
For paying travel expenses abroad, using credit cards is sometimes more practical than using cash and travelers checks. Why? Carrying cash usually entails a small amount risk: you can lose your wallet, or get mugged on the road, while travelers checks can be too bothersome to convert to local currency and sometimes incur a hefty amount of transportation cost.
Paying with plastic is much more convenient and efficient. Converting USD to local currency through credit cards on certain occasions can save you money. This is because credit cards base their conversion rate on the foreign exchange's best price for that day. Even with the added foreign transaction fee, this may be a whole lot cheaper than converting cash instead.
Every purchase made abroad is charged with a foreign transaction fee or a currency conversion fee. This is how credit card companies receive profits from consumers. This fee usually amounts to 2% to 3% of total purchase price, which serves to cover foreign exchange expenses and to discourage fraud. It is therefore prudent to choose a credit card with the lowest foreign transaction fees or a no foreign transaction free credit card when you go abroad as these extra charges can add up to much bigger expenses.
Thankfully, there are still credit card companies who offer a no foreign transaction fee credit card. The most popular one being Capital One, having no foreign transaction fee whatsoever, the 1% percent Visa or MasterCard charge is absorbed by the company instead of charging it to the customers. Captical One offer the best no foreign transaction fee credit card.
All in all, it pays to know exactly how much your credit card will cost you. Being aware of these extra fees and surcharges can be a great help. As much as possible, choose a credit card that charges no transaction fees, there are still lots more that are offered by other companies.
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| N/A | N/A | 11.9% - 19.9% (V) | $59, No Annual Fee For the 1st year | Yes | Excellent Credit |
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| 0% | 6 months on purchases & balance transfers | 10.99%-16.99% | No Annual Fee Credit Card | Yes | Excellent Credit |
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| 0% intro APR on purchases* | until December 2011* | 13.9% - 19.9% (V)* | None* | Yes* | Excellent Credit* |
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| 0% intro APR on purchases and balance transfers | until August 2012 | 10.9% - 18.9% | None | Yes | Excellent Credit |
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| N/A | N/A | 13.99%-21.99% (Variable) | $125; waived for the first year | N/A | Excellent Credit |
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| N/A | N/A | 15.24% Variable | $0 for the first year, then $95 | Yes | Excellent Credit |
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| 3.99% | 15 full months on Balance Transfers and 12 months on Purchases | 11.99% - 20.99% | $0 | Yes | Excellent Credit |
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| N/A | N/A | 15.24% Variable | $75.00 | 15.24% Variable | Excellent Credit |
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| 0% intro APR on purchases | Until Jan 2012 | 13.9% ~ 24.9% | None | Yes | Excellent Credit |
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
| N/A | N/A | Variable, As low as 14.24% | $95 | Yes | Excellent Credit |
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