We’ve reviewed and compiled a list of No Foreign Transaction Fees credit cards in NZ to help you choose the Best No Foreign Transaction Fee credit card to suit your needs.
No foreign transaction fee credit cards charge no foreign transaction fees when you use your credit cards for purchases while overseas or to make purchases in foreign currencies. Compare No Foreign Transaction Fee Credit Cards below to find the Best No foreign transaction fee credit card to meet your neds.
Updated: 14 Oct, 2024
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Card | Description | Purchase Rate (p.a.) | Balance Transfer | Cash Rate (p.a.) | Annual Fee | Interest Free Days |
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Westpac Fee Free MasterCard Credit Card
Platinum Award | Comes with a low rate of just 12.90% p.a. plus 5.95% p.a. for the life of the balance transferred to this card. it also comes with no annual fee, no cash advance fee and no foreign transaction fees. | 12.90% p.a. | 5.95% for life of balance transferred | 19.95% p.a. | $0.00 | 55 days
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Flight Centre Mastercard Credit Card
Gold Award | Earn 1.5 Flight Centre Reward for every NZ$100 you spend on a Purchase and 3 Flight Centre Reward points if purchased from Flight Centre. Flight Centre Mastercards has a $50 annual fee and a $55 establishment fee on your first purchase using Long Term Finance. This card charge no foreign transaction fees. The establishment fee reduces to $35 for subsequent Long Term Finance Purchases. Reward Points Cash Equivalent: $100 spend earns $0.66 cash equivalent^. | 24.99% | N/A | 26.99% | $50.00 | Up to 44 days
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^ To help you compare reward points across different credit cards and rewards programs, we provide an estimate of the cash-equivalent of the reward points that you will get back for every $100 you spend on eligible purchases with your card. The cash equivalent value given is an estimate only based on a specific redemption example. In some cases you might earn less or more depending on how you redeem your ponts and some reward points cannot be redeemed for cash directly. Click on the card to find out how the estimate was calculated.
A foreign transaction fee is a charge imposed by a credit card issuer or bank for each transaction conducted in a country outside your country of residence. These fees typically range between 1% and 5% of the purchase amount and can therefore save you a lot if you tend to spend a lot overseas.
Foreign transaction fees are generally calculated by adding a predetermined percentage fee to the purchase cost made with a foreign merchant. For example, if you make a foreign purchase of $100 and your credit card has a 3% foreign transaction fee, your total cost will be $103.
Using a no foreign transaction fee credit card can save frequent international travellers a lot on fees. Traditional credit cards often charge a fee ranging from 1% to 3% on every transaction made abroad. By opting for credit cards with no international fees, you can avoid these additional fees, allowing you save a bit of cash.
A no international transaction fee credit card offers convenience for travellers as they can use their credit card overseas without without worrying about incurring extra charges, whether you are dining at a local restaurant, shopping at an international store, or booking a hotel. This convenience extends to online shopping from international websites, making it easier to purchase items from around the world without additional fees.
Many credit cards that do not charge foreign transaction fees come with additional benefits including free travel insurance, Airpoints or travel rewards, Access to airport lounges, Concierge services, Purchase protection and extended warranties.
Zero foreign transaction fee credit cards are designed to offer more than just savings and often provide a range of benefits suitable for international travellers. By choosing a credit card that has no foreign transaction fee, you save money on foreign transaction fees but also access benefits that can enhance your travel experience.
Understanding your travel habits will help you identify a credit card that is aligned with your needs. Consider the following questions:
When comparing [no foreign transaction fee credit cards], pay attention to the following features:
It is important to read the fine print before committing to a no foreign transaction fee credit card. Pay particular attention to the following:
When using credit cards without international fees, always opt to pay in the local currency rather than your home currency. This helps you avoid dynamic currency conversion (DCC) fees, which can be higher than the standard exchange rate. Merchants may offer to convert the currency for you, but it is generally more cost-effective to let your credit card issuer handle the conversion.
Regularly check your credit card statements to ensure that all charges are accurate. This is especially important when using credit cards with no overseas transaction fees, as it helps you catch any unauthorised transactions or errors promptly. Set up alerts for transactions to stay informed in real-time.
Take full advantage of the rewards programmes offered by credit cards with no international exchange fees. Use your card for purchases that earn the most points or cash back, and be aware of any special promotions or bonus categories. This way, you can maximise the benefits of your credit card without overseas transaction fees while travelling.
While no foreign transaction fee credit cards can save you money, it is essential to be aware of other potential hidden fees. These may include annual fees, late payment fees, and cash advance fees. Always read the terms and conditions carefully to understand all possible charges associated with your card.
No foreign transaction fee credit cards often come with additional benefits such as travel insurance, purchase protection, and rewards programmes. Make sure to take full advantage of these perks to maximise the value of your card. Familiarise yourself with all the benefits and how to utilise them effectively.
A foreign transaction fee is a charge assessed by your credit card issuer when you make a purchase in a foreign currency or through a foreign bank. This fee is typically a percentage of the transaction amount, usually around 3%.
You can avoid foreign transaction fees by using a credit card that does not charge these fees. Many credit cards, especially those geared towards travelers, offer no foreign transaction fees as a feature.
While no foreign transaction fee credit cards can save you money, they may come with other fees or higher interest rates. It’s important to read the fine print and understand all the terms and conditions and take into consideration how you plan to use the card.
Frequent international travelers benefit the most from no foreign transaction fee credit cards, as they can save a significant amount of money on fees. However, anyone who makes purchases in foreign currencies can benefit.
No, not all credit card issuers offer no foreign transaction fee options.
In addition to no foreign transaction fees, these cards often come with other brenefits such as travel insurance, rewards points, cash back, and access to airport lounges.