When traveling abroad, it’s essential to have a credit card that will help you save money on foreign transaction fees. These fees can add up quickly, especially if you’re making multiple purchases.
The good news is that several miles cards offer 0% foreign transaction fees. This means you can use them to make purchases in any currency without having to pay extra.
To help you choose the best miles card for overseas spending, we’ve compiled a list of the top 5 options. These cards offer a range of benefits, including generous welcome bonuses, high rewards rates, and valuable travel perks.
Best Miles Cards for Overseas Spending
| Card | Welcome bonus | Annual Fee | Rewards rate | Foreign transaction fee |
|---|---|---|---|---|
| Chase Sapphire Reserve® | 60,000 points after spending $4,000 on purchases in the first 3 months | $550 | 2x points on all travel and dining purchases, 1x point on all other purchases | 0% |
| The Platinum Card® from American Express | 100,000 Membership Rewards® points after spending $6,000 on purchases in the first 6 months | $695 | 5x points on flights and prepaid hotels booked through American Express Travel, 2x points on dining and small businesses, 1x point on all other purchases | 0% |
| Capital One Venture X Rewards Credit Card | 75,000 miles after spending $4,000 on purchases in the first 3 months | $395 | 2x miles on all purchases, 5x miles on flights and hotels booked through Capital One Travel | 0% |
| Citi Premier® Card | 80,000 ThankYou® Points after spending $4,000 on purchases in the first 3 months | $95 | 2x points on dining and gas purchases, 1x point on all other purchases | 0% |
| U.S. Bank Altitude® Go Visa® Signature® Card | 40,000 points after spending $2,000 on purchases in the first 3 months | No annual fee | 2x points on all purchases | 0% |
It’s important to note that the welcome bonuses, rewards rates, and annual fees for these cards can change at any time. It’s always a good idea to compare the latest offers before applying.
How to choose the best miles card for overseas spending
When choosing a miles card for overseas spending, there are a few things you should keep in mind:
Fees: The best miles cards for overseas spending will have 0% foreign transaction fees. This means you can use them to make purchases in any currency without having to pay extra.
Rewards rate: The rewards rate you earn on your purchases is another important factor to consider. The higher the rewards rate, the more miles you’ll earn for every dollar you spend.
Welcome bonus: Many miles cards offer a welcome bonus when you sign up. This can be a great way to boost your miles balance and get started on your next trip.
Other benefits: In addition to fees, rewards rates, and welcome bonuses, you should also consider the other benefits that come with each card. These benefits can include travel perks such as airport lounge access, free checked bags, and travel insurance.
Pros and cons of using a miles card for overseas spending
There are several pros and cons to using a miles card for overseas spending:
Pros:
- Earn miles on every purchase
- Redeem miles for free or discounted travel
- Avoid foreign transaction fees
- Get other travel perks, such as airport lounge access and free checked bags
Cons:
- Annual fees can be high
- Rewards rates may not be as high as other types of credit cards
- Redeeming miles can be complex
Effective strategies for using a miles card for overseas spending
Here are a few effective strategies for using a miles card for overseas spending:
- Use your card for all purchases: To maximize your miles earnings, use your miles card for all purchases, both large and small.
- Take advantage of welcome bonuses: Many miles cards offer a welcome bonus when you sign up. This can be a great way to boost your miles balance and get started on your next trip.
- Redeem your miles for free or discounted travel: The best way to use your miles is to redeem them for free or discounted travel. You can redeem miles for flights, hotels, and other travel expenses.
- Be aware of the terms and conditions: Before using your miles card for overseas spending, be sure to read the terms and conditions. This will help you avoid any unexpected fees or penalties.
FAQs
Q: What is a foreign transaction fee?
A: A foreign transaction fee is a fee that is charged by your credit card issuer when you make a purchase in a foreign currency.
Q: How can I avoid foreign transaction fees?
A: The best way to avoid foreign transaction fees is to use a miles card that offers 0% foreign transaction fees.
Q: What are the best ways to earn miles?
A: The best ways to earn miles are to use your miles card for all purchases, take advantage of welcome bonuses, and refer friends and family to your miles card.
Q: How can I redeem my miles?
A: You can redeem your miles for free or discounted travel, gift cards, merchandise, and more.
Q: What are the best miles cards for overseas spending?
A: The best miles cards for overseas spending are those that offer 0% foreign transaction fees, high rewards rates, and valuable travel perks.
