Best Debit Cards For International Travel – what is the best credit card, or debit card that has no foreign transaction fees. There’s a few. There’s more than a few actually. I can give you a few recommendations of cards that I actually have myself The first one is the Capital One Venture Card. That credit card is excellent. It’s actually an excellent travel rewards credit card, if you’re looking for one. The Charles Schwab High Yield Investor Checking Account comes with a debit card that has also has no foreign transaction fees. This is really handy because if you’re anywhere in the world, you can slide your card at a restaurant or whatever and there’s zero foreign transaction fees.
So, huge, huge, huge. Must have. Last but not least, one more recommendation for you is the United Mileage Plus Explorer Card. This card is a must have and it does offer the no foreign transaction fees. I highly recommend it. So, in order I would go Schwab, Capital One Venture Card and United Mileage Plus Explorer Card.
Standard Citibank account. No losses of any form.
The most important factor OP has left out is “spread”. Some companies weasel their fees by saying “no transaction fees”, but exchange at 10% below market rate. Always check the difference between their price and the market rate. A simple google search gives you the approximate current market rate.
While fee-free debit cards present a valuable option for those visiting undeveloped nations for extended periods of time, there is still no real reason to use them over a fee-free credit card that can generate a greater return through transferable currencies such as Ultimate Rewards or AMEX points..
The main flaw in the debit card argument is the pegging of CC rewards’ value at 1-2%. Any savvy traveler knows that they can get 5 cents (or 5%) out of their miles. The un-savvy travelers are the ones using 40,000 miles to travel to Colombia instead of looking up the prices and realizing that tickets to Bogota are $350.
These cards are good if one is insistent on using cash wherever they go. This could potentially be valuable if I’m running around rural Cambodia where cash is king, but I am a frequent visitor to countries such as China and Colombia, where I can use a credit card for all of my purchases.
Therefore, barring any issues with credit, I would always recommend to use a credit card (many of which offer no foreign-transaction fees) and then transfer their points to a valuable currency. That being said, any of these debit cards are useful for that first time when you land in the country when you should withdraw all of your spending cash for that particular trip, but still not more valuable than a credit card.Best Debit Cards For International Travel