Best business credit cards with no foreign transaction fees

Foreign transaction fees are just one of several annoying travel fees that can be added to your purchases when you use a credit card to pay overseas. Thankfully, many business credit cards waive these fees, which may be just what you need if your business frequently travels abroad.

The best business credit cards can also earn rewards for business-related purchases and offer various perks and benefits.

Here are some of our top choices for business credit cards with no foreign transaction fees.

Top business credit cards with no foreign transaction fees

Best for travel rewards

Ink Business Preferred® Credit Card

Learn more in Bankrate's review

• Bankrate’s view

  This business card has a modest annual fee of $95 and a solid rewards rate on travel and business purchases. As a cardholder, you also get access to comprehensive travel protections and valuable redemption options.

  That said, mind the $150,000 spending cap in combined purchases per year that applies to bonus rewards. If you’re likely to spend beyond that amount, the cap will limit your earning potential.

• Pros and cons

  

  Pros

  • Its low annual fee gives business owners an affordable option for accessing generous rewards, perks and value.
  • It has an impressive welcome bonus that could significantly increase your earning potential during the first year of use.

  

  Cons

  • When compared to other business cards, the welcome bonus has a high spending requirement in a short timeframe.
  • Beyond the rewards and free employee cards, the business-focused benefits are slim.

Best for bonus categories

American Express® Business Gold Card

Learn more in Bankrate's review

• Bankrate’s view

  While this card has an annual fee of $375, it stands out among reward-earning business cards thanks to its flexible and powerful reward categories. You can also get a solid welcome offer to boost your Membership Rewards balance and earn high rewards on select categories.

  You can combine these flexible travel points with any Membership Rewards-earning business or personal card and transfer them to any American Express transfer partner. The monthly flexible business credit can help offset your annual fee while providing a powerhouse for reward earnings.

• Pros and cons

  

  Pros

  • The reward rates structure offers great flexibility for business owners who can plan their spending accordingly.
  • The ability to transfer to Membership Rewards travel partners provides potential for outsized value when redeeming points.

  

  Cons

  • While the card has no set credit limit, bonus earnings in the top categories have an annual cap of $150,000 which can limit some businesses.
  • The card doesn’t offer airport lounge access or other luxury perks despite the comparatively high annual fee.

Best for flat-rate cash back

Capital One Spark Cash Plus

Learn more in Bankrate's review

• Bankrate’s view

  The Capital One Spark Cash Plus is a top flat-rate cash back option for business cards, offering 2% cash back on all purchases. This is ideal for business owners who prefer simplicity or primarily spend outside traditional bonus categories. The lack of foreign transaction fees also keeps things simple abroad.

• Pros and cons

  

  Pros

  • The annual fee waiver makes this card an excellent choice for higher-spending businesses.
  • Since this is a charge card, there is no preset sending limit.

  

  Cons

  • There are no bonus categories to boost earnings.
  • You’ll need to pay in full monthly to avoid penalty fees.

Best for travel perks

The Business Platinum Card® from American Express

Learn more in Bankrate's review

• Bankrate’s view

  While its rewards rates aren’t great, The Business Platinum Card® from American Express offers an excellent laundry list of perks, which include an up to $200 airline fee credit with a select airline each year, airline lounge membership, a fee credit for Global Entry or TSA PreCheck membership, shopping credits with Dell, wireless credits, elite status with multiple programs and much more.

• Pros and cons

  

  Pros

  • The value of the card’s numerous perks and credits can far outweigh the high annual fee.
  • This card offers elite status with many programs and has one of the most comprehensive offerings for lounge access.

  

  Cons

  • The annual fee is very high and can be difficult if you don’t travel enough to take advantage of the travel benefits.
  • The card likely isn’t worth it unless you maximize most benefits.

Best for fair credit

Capital One Spark Classic for Business

Learn more in Bankrate's review

• Bankrate’s view

  If you only have fair credit but need a business credit card for your travels, the Capital One Spark Classic for Business* is more accessible than many other top options. You’ll also earn a flat 1% cash back on all purchases and 5% back on hotels and rental cars booked through Capital One, which is solid for a credit-building card.

  While better cards come with superior benefits, the Spark Classic for Business can be a practical choice to help build your business credit while working towards better cards.

• Pros and cons

  

  Pros

  • This card offers a solid reward rate for a credit-building business card.
  • It comes with several business accounting tools that can help keep your business organized.

  

  Cons

  • The card has mediocre earning rates when compared to cards with greater credit requirements.
  • There are no intro offers to help consolidate your debt or make large purchases.

Best for no annual fee

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

• Bankrate’s view

  With the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card*, you earn a respectable flat rate of 1.5X points on all other purchases you can redeem on travel for maximum value.

  The card also combines a decent welcome bonus and intro APR offer on purchases, which adds significant up-front value to a no-annual-fee card. This can help cover larger purchases for your business while providing breathing room for repayment and a decent return on spending.

• Pros and cons

  

  Pros

  • The welcome offer and intro APR offer great day-one value for a no-annual-fee card.
  • Earning rates can be as high as 2.625% if you have Preferred Rewards status, which is the highest unlimited flat rate available on a card

  

  Cons

  • You can only receive maximum point value when you redeem your points on travel.
  • There are no bonus categories to boost earnings on specific purchases.

Comparing the best business credit cards with no foreign transaction fees

How to choose the best business credit cards with no foreign transaction fees

Many business credit cards come with no foreign transaction fees, so there are other card aspects you’ll want to consider when choosing a business credit card. Here’s what you should take into account when comparing your options.

1. Find rewards that fit your spending and travel

If you typically spend in specific categories month-over-month, look for cards that offer bonuses on those expenses. You’ll also want to make sure those cards provide the same bonuses while abroad. For example, many American Express cards only offer rewards on U.S.-based spending, meaning you won’t earn a bonus if you spend in that same category while abroad.

2. Consider benefits and welcome bonuses

Make sure the cards you choose offer benefits you can use, whether that includes airport lounge access, or statement credits for business-related services or expenses. If you’re considering a business credit card with a high annual fee, ensure the perks and benefits offer enough value to justify the fee. 

Avoid the situations where you’d have to spend more than you usually do just to offset the annual fee. If that’s a possibility, you’ll probably be better off with a simpler card with lower fees.

3. Compare rates and fees

Business cards with no foreign transaction fee can range from no annual cost to over $300 each year, and there can be significant variety in the fee structure and APR rates. Select a card with fees favorable to your needs, especially if the annual fee is high. If the fee seems like too much work to offset, and you’re unsure you want to put in the effort (or spending), it’s better to settle on a card with a lower annual fee — even if it offers less in terms or perks or rewards.

Foreign transaction fees vs. currency conversion fees

While foreign transaction fees and currency conversion fees both occur after purchases abroad, they are very different fees.

• Foreign transaction fees

  Issuers assess foreign transaction fees on purchases you make with your credit card outside of the United States. Depending on the card issuer, these fees can range between 2.7 to 3% of the purchase amount. For example, if your credit card charges a 3% foreign transaction fee on a $100 purchase, you would see an additional $3 charge for that purchase on your credit card statement. This fee can apply even if you’re shopping in the U.S. but the vendor is from outside the country, which is more common with online shopping.

• Currency conversion fees

  Merchants charge currency conversion fees for converting a purchase into U.S. dollars before making the transaction. While these fees vary, they are typically at least 1% of the purchase amount. You may end up paying foreign transaction fees on top of these fees if you use the wrong card. For instance, if you buy an item that costs 100 euros, you may see an option to convert it to U.S. dollars marked up to $115.

  Local currency is almost always the better payment option for reducing costs. Currency exchange rate apps can help you compare other currencies to U.S. dollars to see when you are losing value with a currency conversion fee. When paying, tell the merchant that you want to pay in local currency, as they may charge you by default in U.S. dollars.

The bottom line

Business credit cards with no foreign transaction fees can help business owners avoid overpaying for purchases abroad. Many of these cards offer excellent spending rewards and numerous benefits and perks.

That said, the right business credit card will differ for every business owner. Not having foreign transaction fees is becoming a standard feature on credit cards, so it shouldn’t be a deciding factor in choosing a card. Consider all aspects of a business credit card before making your decision.

Frequently asked questions

• Which issuer has the best currency exchange rates?

  If all other factors — such as rewards or other fees — are similar, you’ll typically get more favorable exchange rates with Mastercard. Visa and American Express are a bit more expensive than Mastercard.

• Will issuers waive foreign transaction fees?

  While credit card issuers aren’t required to do so, if you feel you paid a foreign transaction fee accidentally — paying for an online transaction in a foreign currency, for example — you may get a one-time exception if you call and plead your case.

• Can any credit card be used internationally?

  While Visa and Mastercard are accepted virtually worldwide, American Express and Discover are accepted on a more limited basis. Always check whether the credit card will work abroad where you travel. It’s a good habit to carry more than one type of business card when you travel if your first option isn’t accepted.

*The information about the Capital One® Spark® Classic for Business and Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has been collected independently by Bankrate. The card details have not been reviewed or approved by the issuer.

For Capital One products listed on this page, some of the above benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.