This premium rewards card is a dual currency credit card that bills overseas purchases in US Dollar instead of Philippine Peso, saving you from the high cost of exchanging a foreign to local currency. Your rewards will never expire! Pay for airline tickets and hotel accommodations with your Metrobank Travel Platinum Visa card. Some issuers, like American Express at 2.7%, charge slightly lower. Foreign currency transaction fee: 2.50%; Credit Cards with No Annual Fee Promo (Limited Time Only) Citi Rewards Card Ideal for: Shoppers and reward seekers Minimum monthly income requirement: PHP 15,000 if you have another credit card, PHP 20,833 if none. Fortunately, with the right credit card, you can cushion the blow. Learn about the top 5 no Foreign Transaction Fee credit cards to take with you when you travel internationally. Foreign currency transaction fee: 3.50% Earn regular miles with every 30 PHP spend, and enjoy a 5% discount on select flights via Philippine Airlines when you book them at the official website. Service fees may also be charged to cover costs incurred to discharge the amount(s) due to Mastercard and/or acquiring bank and/or foreign merchant affiliates. Plus, you’ll always get 24/7 Card … Use of this site constitutes acceptance of our Terms and Conditions and Privacy Policy. Compare business credit cards with no foreign transaction fee If you or your staff frequently travel overseas for business, choose a credit card that won't charge punishing fees to convert currencies on foreign transactions. Or it will decline your overseas transactions. Many banks also charge anywhere between 0.99% and 2.5% of the amount as mark-up fee. But 3% is about industry standard. One of the best international credit cards to use abroad is the BPI Visa Signature—a travel and lifestyle card made for frequent overseas travelers. Save big abroad with zero foreign transaction fees. It’s the credit card with complete travel features and lets you earn one mile for every 17 PHP you spend overseas, making it the best credit card in the market for accumulating air miles. Foreign transaction fee: 3.525% (inclusive of Visa’s 1% assessment fee) Cash advance fee: 3.00% of the borrowed amount or PHP 500, whichever is higher; Ideal for: Spenders looking for rewards for smaller purchases. There’s no cheaper way to exchange money than using a 0% foreign transaction fee credit card. Double-check the information on the receipts, paying close attention to the foreign currency you’re charged. The EastWest KrisFlyer World Mastercard offers the lowest foreign transaction fee credit card in the Philippines at 1.70%. If you don’t want to carry a lot of cash with you, you can simply use this card for hotel or restaurant expenses, car rentals, or even tour and entertainment packages. Dela Costa, Salcedo Village, Makati City. APR: Almost 70% of no foreign transaction fee cards have a minimum APR of between … Published: October 26, 2020 | Updated: January 13, 2021 | Posted by: Venus Zoleta | Credit Card, Published: October 26, 2020 Updated: January 13, 2021 Posted by: Venus Zoleta | Credit Card. UnionBank’s premium air miles credit card awards higher points for travel expenses, so the more you travel, the higher rewards you accumulate. Filipinos who travel overseas a lot need a reliable credit card that can be used for international purchases. Ultimately, choosing a card with no foreign transaction fees can help you avoid paying extra abroad. A 0% foreign fees credit card may have a higher APR than other types of credit cards, but it will save you quite a lot in fees if you travel often and don’t carry a balance on the card. For starters, you automatically receive 2,000 Mabuhay Miles upon card activation. Travel rewards: No foreign transaction fee cards tend to be a good choice for travel rewards, with more than 80% earning at least 1.5 points or miles per dollar on travel purchases. 💸 Fees and Charges. Dont worry, we take data privacy very seriously. The Meridian Visa Infinite Travel Rewards Card isn’t a no foreign transaction fee credit card per se, but it does offer 3% in rewards points on foreign purchases. These credit cards can help you save money while earning reward points for your purchases. And when you accumulate 100,000 PHP worth of transactions in Philippine Airlines within your first year, you receive 10,000 Mabuhay Miles. The Amazon Prime Visa card could be an attractive option for people who already have, or intend to get, Prime membership. © 2009 – 2019 Catapult Ventures Pte Ltd. All rights reserved. Simply select Philippine Peso as your card’s currency and the currency of your transaction, and then enter the amount and bank fee (the foreign currency transaction rate). Security Bank credit cards, including the Platinum Mastercard, don’t charge a foreign currency transaction fee. No Foreign Transaction Fee Credit Card FAQs How Much Are Foreign Transaction Fees? Not only can you cut your expenses by 3% or more by choosing a card that charges no foreign transaction fees, but you can boost your value by selecting one with great rewards, no annual fee, or a convenient chip-and-pin configuration. No Annual Membership Fee: No Annual Membership Fee: Charge2Phone: Free: NA: Citi Cash Back: Php 3,500 (Until January 19, 2021) Php 4,500 (Effective January 20, 2021) Php 1,750 (Until January 19, 2021) Php 2,250 (Effective January 20, 2021) Citi PremierMiles: Php 5,000: Php 2,500: Citi Prestige: EXISTING: Php 12,000 NEW: Php 18,000 (Postponed until further notice) Welcome bonus: 25,000 points, worth $250 in travel statement credits, after making $1,000 in new purchases within 90 days of account opening: Rewards: Earn unlimited 1.5 points for every $1 you spend on all purchases; Annual fee: $0: Advantages: Valuable sign-up bonus If your issuing bank is not informed beforehand, chances are it will suspend your account for security purposes when it detects transactions from unusual locations. You’ve read…, Most banks have credit card rewards programs where you can exchange points for exclusive items,…, Looking for private lenders that offer personal loans in the Philippines? Yes, nobody’s stopping you from swiping your card—the only problem is that it can be really costly if you’re using just a regular card and not any of the available international credit cards. Our credit cards have no foreign exchange fees, waived annual fees for the 1st year, plus exclusive perks & promos. With all these credit card choices, which one do you think you’ll go for? Aside from the travel benefits typically offered by other international credit cards, BDO gives something extra on its Platinum Mastercard. Credit cards that waive international fees often come with other travel benefits, too. 6. Foreign Transaction Fee on Top Credit Cards ), 14 Online Gadget Stores for Your Tech and Gaming Needs This ECQ, Best International Credit Cards Philippines, Maybank Platinum Visa / Platinum Mastercard, EastWest Singapore Airlines KrisFlyer World Mastercard, How to Use an International Credit Card Abroad, Compute the Currency Conversion Rate for Your Overseas Transaction, Choose to Pay in the Local Foreign Currency, 6 Dual Currency Credit Cards for Filipino Travelers, 9 Best Travel Credit Cards in the Philippines for 2020, 14 Best Air Miles Credit Cards for Cheaper Travel in the New Normal, Senior Citizen Discount and Benefits Plus Important Facts You Might Not Know, 5 Festivals You Should Check Out This May 2017, Professional License Guide for Uber and Grab Drivers, Best International Credit Cards in the Philippines for Overseas Trips, 4 bonus points per PHP 20 overseas and online spend (Points can be redeemed for miles at 1 air mile per PHP 25 spend. This makes the Platinum Mastercard for families who often travel abroad. Get exclusive offers from all around the world that you can only avail from American Express Selects. After accounting for foreign transaction fees, that works out to about a 0.5% return on purchases made in a non-Canadian currency – so you’ll still come out ahead. $10 per exchange) and hidden commissions padded into poor exchange rates (especially the … Unlike the majority of other credit cards, a 0% foreign fees credit card does not charge a foreign currency conversion fee for transactions made in a foreign currency. Individual cards often have their own foreign transaction fees, but some providers avoid them altogether, on all of the credit cards they offer. To give you an idea of the potential savings a credit card with foreign transaction admin fees waiver, let’s say you spend $5,000 while you’re travelling overseas. Annual fee: PHP 5,000 (free for the first year) Interest rate: 2%. The EastWest KrisFlyer World Mastercard offers the lowest foreign transaction fee credit card in the Philippines at 1.70%. Plus, you’ll always get 24/7 Card … This processing or service fee applies to all transactions involving foreign currencies converted to PHP at point of sale, whether executed abroad, in the Philippines or online. 3 Top Ways To Plan Your Dream Wedding On a Budget, How To Open A Bank Account In The Philippines As a Student, 4 Top Tips For Freelancers: How To Survive In The Freelancing World, Best Travel Deals: 8 Clever Tips For Travel-Lovers In 2019, The Credit Card Substitutes Millennials Can Get Today. Do you own a BDO JCB Platinum credit card? APR: Almost 70% of no foreign transaction fee cards have a minimum APR of between … The service fee shall likewise apply to transactions involving foreign currencies converted to PHP at point of sale, whether executed in the Philippines, abroad, or online. I withdrew money from an ATM in the Philippines … This is great because you don’t need to worry about running out of cash and looking for the nearest foreign exchange place. Not all credit cards are equal. Alternatively, cards with low foreign transaction fees are BPI Family Credit Card (0.75%), HSBC Platinum Visa, and BDO American Express Cash Back (2.50%). Pay for airline tickets and hotel accommodations with your Metrobank Travel Platinum Visa card. ), 3 bonus points per PHP 20 spend on dining and shopping, Exclusive privileges at over 27,000 establishments in 160 countries worldwide, Up to PHP 10 million travel insurance coverage, Golf privileges worldwide, including access to 100 golf clubs in 23 countries, Exclusive discounts and privileges in the Philippines and abroad, Instant SMS notification for every approved transaction anywhere in the world, 15,000 KrisFlyer miles per PHP 200,000 spend within 12 months from card approval date, Free access to over 1,100 lounges in over 500 airports worldwide for cardholder plus three guests, Dining, shopping, and wellness offers at airports, Up to PHP 20 million travel insurance coverage, Lowest Hotel Rate Guarantee and Hotel Stay Guarantee, Up to PHP 2 million travel insurance coverage, Discounts and privileges on airport amenities worldwide, Free access to Pacific Club Lounge in NAIA 3, Special foreign exchange rates when buying foreign currencies, Additional 10,000 Mabuhay Miles upon reaching PAL transactions worth PHP 100,000, Year-round discount on select international flights booked via PAL website, Priority check-in at PAL Business Class Counters at NAIA 1, 2, and 3, World Assist travel and medical concierge service, Up to PHP 10 million free travel insurance coverage, Up to PHP 250,000 free purchase protection insurance, PHP 250,000 fraud transaction insurance (for only PHP 120 per year), 1.5 points per PHP 25 travel-related spend, Free access to over 1,000 airport lounges worldwide, Dining, pre-flight massage, and shopping discounts during a flight, 24/7 Global Emergency Services for credit card-related concerns, 50% discount in dining establishments at BDO partner hotels, Exclusive rates and packages at partner hotels and resorts, Automatic cashback at participating overseas merchants, Free access to  over 1,000 lounges at 500 airports worldwide for the cardholder and one guest, Free unlimited access to the Sky View Lounge at NAIA 3, Up to PHP 1 million travel insurance and purchase protection insurance, Free access to select airport lounges for the cardholder and one travel companion. Learn about International Transaction and Foreign Currency Transaction Fees, and when they may apply to your card. BDO Visa Platinum. Ideally, these are the features to look for in a credit card: Foreign transaction fee of 0%; Competitive points or cash-back rewards program (at least 1% of … Maybank Platinum Mastercard and Visa credit cards offer the same set of benefits for international travelers. When you have collected enough points, you can choose to redeem air miles, cash rebates, or shopping vouchers. Read more: 6 Dual Currency Credit Cards for Filipino Travelers. A no foreign transaction fee credit card is a card that does not charge cardholders any fees while traveling internationally or making purchases from foreign-based merchants. You’ll get 1.5% cash back on every purchase you make. MoneySmart Philippines (2020), Updated Credit Card Rates, Cap and Fees in the Philippines 2020 – 2021 by BSP, Best Credit Cards for New Cardholders in the Philippines (2020), Compare the Lowest Interest Rates of Credit Cards in the Philippines (2020), MoneySmart Tips for First-Time Credit Cardholders (2020), The Best Secured Credit Cards in the Philippines. A foreign transaction fee is imposed by a credit card issuer on a transaction that takes place overseas or with a foreign merchant. What details should you share with the bank aside from your plan to use your card internationally? Credit cards that bear the logo of Mastercard, Visa, or American Express are accepted as a payment mode for transactions around the world. With this in mind, some of the best no foreign transaction fee credit cards include the following: Chase Sapphire Preferred®Card: If you want points for dining at restaurants worldwide, the Sapphire Preferred is a fan favorite. You don’t need to stress about converting your payments from PHP to USD. There’s no additional annual fee, and the zero foreign transaction fee is a major plus if you want to use your credit card abroad. Others might charge higher. This PNB credit card is a must-have if you often fly to international destinations with Philippine Airlines (PAL). Cash advance of up to 30% of the credit limit, Free travel insurance with coverage of up to 20 million PHP, Waived annual fees with 600,000 PHP spend for the year, Up to 6 supplementary cards with free annual fees for life, Access to JCB airport lounges in Thailand, Korea, Singapore, Hong Kong, China, Japan, and Hawaii, Access to airport lounges in NAIA Terminals 1 and 3 and Clark International Airport, Up to 20 million PHP travel and accident insurance, Separate billing statements for your overseas purchases, Lounge access in over 500 airports with LoungeKey, Mastercard Traveler Rewards (cashback offers from participating merchants overseas), Special exchange rates for foreign currency purchases at any BPI branch, Up to 20 million PHP travel insurance coverage, Rewards from My BPI Rewards and Real Thrills Rewards Premium catalogues, Limo transfers and lounge access at airports, Free annual fees for first supplementary card, Free gifts and special deals at partner M Here establishments, Free travel insurance with coverage of up to 10 million PHP, 24/7 global customer service and travel assistance, Waived annual fee for the next year with a 200,000 PHP annual spend, Travel insurance coverage of up to 1 million PHP, Zero interest installment for international purchases. Applying to the Chase Sapphire Preferred no foreign transaction fee credit card will give you many benefits while traveling. No Foreign Transaction Fee Credit Cards ... switching to a card with a 0% foreign transaction fee would save you $72 per year. A foreign transaction fee is a fee, generally a percentage of the purchase, charged by a bank when a credit card is used to make a purchase in a foreign currency. But 3% is about industry standard. You also have the option to convert your purchases into monthly installments in PHP or USD. You should do this before you leave so that you can use your card internationally without any problem. There are different types of international fees that apply when you use your NAB Visa Debit cards or NAB credit cards with an overseas merchant. Points don’t expire, so you have the option to just keep earning and collecting for that big trip with the family, that dream honeymoon, or that solo trip you have been planning for ages. Best Credit Cards With No Foreign Transaction Fees. Using a card abroad for the first time? HSBC offers a generous rewards system to Platinum Visa cardholders who use their card abroad (except for cash advance), with 4x bonus points for every qualified transaction. Nothing could be more exciting than buying a house. When you get back home, review your receipts and check them against your billing statement. A foreign transaction fee (also known as a foreign currency exchange fee) is an extra charge for credit card purchases made in foreign currency. Metrobank Travel Platinum Visa. Outside of work, she’s crazy about cats and Korean dramas. Also, your annual fee is automatically waived if your transactions with the BDO Platinum Mastercard reach at least PHP 600,000 in a year. Earn as many reward points as you can and save them for as long as you want. Not bad, especially when you buy high-ticket items in international retail stores. Use your points to redeem PAL Mabuhay Miles or Cebu Pacific GetGo Points. Review our expert-recommended cards here. Depending on your card, you may be charged a foreign transaction fee if you’re traveling and making purchases outside the U.S., or just buying something from a merchant based outside the States. You also earn one reward point for every 36 PHP you spend. If you had a card that charged a 1% admin fee and 2% for other foreign transaction fees, … If you want to own a premium credit card that also offers low exchange rates, the BPI Visa Signature card is just right for you. Out of all the charges, credit card charges are the most outrageous, especially foreign transaction fees. It comes with a low annual fee, interest rate, and foreign transaction fee. Best Budget Apps for a Finance Healthy 2021, 10 Cool Gift Ideas for the Tech Lovers in Your Life (Plus Win Apple AirPods! Depending on your card, you may be charged a foreign transaction fee if you’re traveling and making purchases outside the U.S., or just buying something from a merchant based outside the States. Some cards have low foreign transaction fees, while others have great rewards programs for international purchases. In comparison, most other credit cards charge a fee of 2–3% of each international transaction you make. Others have no foreign transaction fees, while others offer exclusive travel-related perks. The number should match. Also, BDO offers no annual fee for life for up to six supplementary cards. Use of this site constitutes acceptance of our Privacy Policy. Earn travel rewards with no annual fee and no foreign transaction fees. Read on to find out the best international credit cards for overseas spending. Weighing the Pros and Cons of Buying a Repossessed Car, Number Coding Guide for Filipino Motorists in 2021, How to Get Car Insurance for Second Hand Vehicles, How to Redeem Credit Card Points in the Philippines, Different Ways to Pay for Your Credit Card Bill, Complete Guide to Secured Credit Cards in the Philippines. The Citi PremierMiles Visa Card is heralded as among the best travel credit … Apart from no foreign transaction fee, cardholders can also enjoy travel insurance, free concierge services, and free access to airport lounges. You also don’t need to pay for any foreign currency transaction fees. Like balance transfers, a typical foreign transaction fee is 3% of the total purchase, give or take. No Foreign Transaction Fee Credit Card FAQs How Much Are Foreign Transaction Fees? This saves you money on your credit card bills. We have picked out credit cards in the Philippines that you can use whenever you fly to an international destination and decide to splurge on shopping, dining, or entertainment. The Capital One Quicksilver Cash Rewards Credit Card is a simple flat cash back card with no annual or foreign transaction fees. You also earn one point for every 40 PHP you spend. Banks typically charge 3%, or more, to convert your money in person and the rate for doing it online is usually about the same unless you are converting large sums of cash. No Foreign Transaction Fee Credit Card vs. Cash. Find a card that doesn't charge foreign transaction fees, and you'll save up to 3% on each purchase overseas. People who enjoy shopping when traveling abroad can maximize their spending with this premium lifestyle credit card. If you’re new to credit cards, or even new to online or cross border shopping, a credit card that offers no foreign transaction fees might not be high on your “must have” list. When comparing your options for a credit card with no foreign transaction fees, it’s a good idea to consider some of the following fees: Currency conversion fee You will likely be charged a relatively minor currency conversion fee when making a purchase to convert your Aussie dollars to … Never miss out on promos and finance tips! All rights reserved with its registered address at 6th floor, ACT Tower, H.V. Shop Credit Cards Balance Transfer Cards Reward Cards Travel Cards Cash Back Cards 0% APR Cards Business Cards Cards for Bad Credit Cards for Fair Credit Secured Cards Search Credit Cards. While waiting until it’s safe and less restrictive to travel abroad, you can use your credit card to collect points and air miles for your future overseas trips. Whenever you conduct a transaction overseas, banks and credit card networks charge a fee to convert the denominations. Citi PremierMiles Visa. If you say yes to that, you’ll be charged a higher exchange rate for converting to PHP by the overseas bank that handles the transaction. If you want to be sure of avoiding foreign transaction fees, a Capital One ¹ or Discover ² credit card is a safe bet: none of them charge foreign transaction fees … Sign up for our newsletter for financial tips, tricks and exclusive information that can be personalised to your preferences! Whenever you use this card for purchases abroad, you enjoy a conversion rate of 1.85%, lower compared to other credit cards. When travelling abroad, it’s smart to carry a bit of cash in your wallet (usually $100 or less), which you can use for small purchases, taxi rides, public transit rides, and tips. When paying with your credit card abroad, you’ll be given an option to use your home currency (PHP), which is called Dynamic Currency Conversion[2]. On top of that is a low foreign currency conversion rate of 1.75%, making it one of the top choices for international credit cards in the Philippines. These fees are typically 1%–3% of the value of transaction … It’s the credit card with complete travel features and lets you earn one mile for every 17 PHP you spend overseas, making it the best credit card in the market for accumulating air miles. However, there’s no justification for credit card issuers imposing foreign transaction fees, which are just pure profit for card issuers.