[UPDATE: Some offers mentioned below have expired and/or are no longer available on our site. You can view the current offers from our partners in our credit card marketplace. DISCLOSURE: Cards from our partners are mentioned below.]
With the price of flights to Europe dropping faster than dominoes, it’s no wonder people are thinking of going abroad. But while scoring a cheap flight is nice, there’s nothing like packing a credit card with no foreign transaction fees. Even better: When that card has no annual fees the first year.
1. Capital One VentureOne Rewards
The Pros: Capital One VentureOne Rewards (read our review here) members earn 1.25X miles per dollar, which can be redeemed for one cent each as a statement credit toward travel purchases, including airfare, hotels, car rentals and cruises. New applicants also receive a whopping 20,000 miles, worth $200, after spending $1,000 within the first 3 months of opening the account.
The Cons: The rate of return on rewards is less than the double miles offered by Capital One’s alternate version of no-foreign-transaction-fee travel plastic, the Capital One Venture Rewards card.
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2. Chase Sapphire Preferred
The Pros: Chase Sapphire Preferred (read our full review here) cardholders earn double points for all dining and travel charges, and one point for every dollar spent everywhere else. They can also redeem points directly through Chase’s Ultimate Rewards travel portal at a rate of 1.25 cents per point. Other rewards — such as gift cards, swag and cash back — are also offered at a rate of one cent per point.
The Cons: The annual fee
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Remember, it’s important to read the fine print of any credit card you’re considering to be sure it’s right for you. And, before you apply, it’s good to have an idea of where your credit stands, as this will help determine what kind of terms and conditions you may qualify for. You can view a free snapshot of your credit report, updated each every 14 days, on Credit.com.
At publishing time, the Capital One VentureOne Rewards and Citi AAdvantage Platinum Select MasterCard cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for these cards. However, this relationship does not result in any preferential editorial treatment.
Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.
Image: ArtMarie