Best business credit cards with no foreign transaction fees

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Having a dedicated business credit card can make your life easier in so many ways. Not only can you keep business purchases separate from personal spending and simplify your finances for tax purposes, but you can also earn rewards for your business-related purchases and enjoy the perks and benefits that come with it

Some business credit cards waive foreign transaction fees, which means you can use them to make purchases outside the United States without paying extra. If you’re planning to travel abroad in the future and want a business credit card that will let you make overseas purchases without an additional charge, keep reading to learn about the top options available to you.

Bankrate’s picks for the best business credit cards with no foreign transaction fee:

  • Best for flexible travel rewards: Ink Business Preferred® Credit Card
  • Best for earning cash back: Capital One® Spark® Cash for Business
  • Best for frequent flyers: CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®
  • Best for travel perks: The Business Platinum Card® from American Express
  • Best with no annual fee: Discover it® Business card

Ink Business Preferred® Credit Card

  • Earn 100,000 bonus points (worth $1,250 in travel) when you spend $15,000 within three months of account opening
  • Earn 3X points on up to $150,000 each year on combined travel, shipping, Internet, cable and phone services and select advertising purchases (then 1X points); also 1X points on all other purchases
  • $95 annual fee
  • No foreign transaction fees

Why it’s the best business card for flexible travel rewards

The Ink Business Preferred is an excellent option if you want to earn rewards on all your business’ spending. The 3X categories offered by this card are generous, and that’s especially true since you can earn rewards on up to $150,000 in combined spending each year. The current welcome bonus of 100,000 points is also one of the highest available, although it’s important to note the bonus’ equally high spending requirement of $15,000 within three months.

Chase Ultimate Rewards points are insanely flexible considering you can redeem them for cash back, statement credits, gift cards, experiences or travel through the Chase Ultimate Rewards portal. You’ll even get 25 percent more value for your points when you redeem them for airfare, hotels and more through Chase.

Further, you can transfer these points to Chase travel partners at a 1:1 ratio, allowing you to convert Chase points to airline miles or hotel points with World of Hyatt, Marriott Bonvoy, Southwest Rapid Rewards, United MilagePlus and plenty of other programs.

This card comes with no foreign transaction fees, and you’ll also receive trip cancellation and interruption insurance, purchase protection against damage or theft, extended warranties, cell phone protection and other cardholder perks.

Capital One® Spark® Cash for Business

  • Earn a $500 bonus when you spend $4,500 on your card within three months of account opening
  • Earn an unlimited 2 percent cash back on all purchases
  • $0 annual fee the first year, then $95
  • Free employee cards and no foreign transaction fees

Why it’s the best business card for earning cash back

The Capital One® Spark® Cash for Business is ideal for easy cash back earning as you receive a flat 2 percent back for each dollar you spend with no bonus categories to keep track of. The $500 welcome bonus is also generous, and you can redeem your cash back at any amount.

You’ll receive cardholder benefits like secondary auto rental coverage, purchase protection against damage and theft, emergency card replacement and extended warranties on eligible items. The annual fee is also waived on this card for the first year. After that, you’ll pay $95.

CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®

  • Earn 70,000 miles when you spend $4,000 on your card within four months of account opening
  • Earn 2X miles on eligible American Airlines purchases, gas stations, cable and satellite providers, select telecommunications merchants and car rentals; also earn 1X miles on all other purchases
  • $0 annual fee the first year, then $99
  • No foreign transaction fees

Why it’s the best business card for frequent flyers

The CitiBusiness® / AAdvantage® Platinum Select® card is best for frequent travelers who want to earn airline miles in an international frequent flyer program without having to pay foreign transaction fees. This card starts you off with 70,000 miles when you spend $4,000 within four months of account opening, and you’ll also earn miles for each dollar you spend on your card.

According to American Airlines rewards charts, the initial bonus on this card alone is enough for at least two round-trip domestic flights when MileSAAver award availability is found, or more than enough for a round-trip flight to Europe during peak or off-season dates.

The CitiBusiness / AAdvantage Platinum Select waives the annual fee for the first year, and you’ll get a first checked bag free on domestic American Airlines flights for you and up to four travel companions. There are no foreign transaction fees either, so you can use this card for purchases no matter how far from home your journey takes you.

The information about the Citibusiness Aadvantage Platinum Select World Mastercard has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

The Business Platinum Card® from American Express

  • Earn 75,000 Membership Rewards points when you spend $15,000 on your card within three months of account opening
  • Earn 5X points on flights and prepaid hotels booked through AmexTravel.com, as well as 1X points on other purchases
  • Get 50 percent more points on purchases of $5,000 or more (up to 1 million points per year)
  • $200 airline fee credit
  • $595 annual fee
  • No foreign transaction fees
  • Terms apply

Why it’s the best business card for travel perks

The Business Platinum Card® from American Express makes it easy to earn rewards within the American Express Membership Rewards program, which lets you redeem points for gift cards, merchandise or travel through AmexTravel.com. Amex Membership Rewards points can also be transferred to an array of airline and hotel partners, ranging from Hilton Honors to the Delta SkyMiles® program.

While its rewards structure is great, this card is really all about the perks, including no foreign transaction fees. Other major cardholder benefits include a $200 airline fee credit with a select airline each year, an annual $200 Dell statement credit, airline lounge membership with access to more than 1,200 lounges worldwide and a fee credit for Global Entry or TSA PreCheck® membership. You’ll also get an airline bonus of 35 percent of your points back (up to 500,000 points back per year) when you use Membership Rewards points to book flights with your select airline or any first or business class flight through AmexTravel.com. Finally, you’ll get automatic gold status with the Hilton Honors and Marriott Bonvoy programs.

Discover it® Business Card

  • Earn 1.5 percent cash back on all purchases
  • Discover will match all the cash back you earn at the end of your first year
  • No annual fee
  • No foreign transaction fees
  • Intro zero percent APR on purchases for 12 months, followed by a variable APR of 12.99 percent to 20.99 percent

Why it’s the best business card with no annual fee

The Discover it® Business Credit Card keeps things simple with no annual fee and no foreign transaction fees. You’ll also earn a flat 1.5 percent cash back for each dollar you spend, and Discover will match all the cash back rewards you earn at the end of your first year.

Interestingly, this card can help you save money in interest on large transactions with its intro zero percent APR offer on purchases. You’ll avoid interest on everything you buy with your card for the first year, after which you’ll pay a higher variable APR.

This card doesn’t come with a lot of perks, but it’s a good option for anyone who wants a card without foreign transaction fees or an annual fee.

Don’t see the card for you? Our CardMatch feature can help you find a card that best fits your needs.

 

What to look for in a business credit card with no foreign transaction fees

When looking for a business credit card that doesn’t charge foreign transaction fees, you should also consider other aspects of each card. Here’s everything you should take into account as you compare your options.

Consider each card’s international acceptance

While Visa and Mastercard boast broad international acceptance, this isn’t necessarily the case for American Express or Discover. American Express acceptance can be hit or miss overseas, and Discover has significant gaps in terms of where you can use it worldwide — particularly in Africa, the Middle East and parts of South America.

Focus on rewards structures relevant to your travel style

Compare rewards programs and make sure you’re earning rewards toward the spending you do most often. While some business credit cards let you earn airline miles or hotel points, others offer flexible points or cash back.

Compare credit card fees

When comparing cards, see how each stacks up in terms of their credit card fees and annual fees. If you’re considering a business credit card with a high annual fee, make sure the perks and benefits more than make up for it.

Aim for perks you can use

Finally, make sure the cards you’re considering offer benefits you actually want, whether that includes airport lounge access, airline fee credits or a myriad of other popular credit card perks.

Frequently asked questions (FAQ)

What is a foreign transaction fee?

Foreign transaction fees are fees that are added to your purchases when you use a credit card to pay overseas. If your credit card charges a 3 percent foreign transaction fee on a purchase that would normally cost $100 USD, for example, you would ultimately see a $3 charge for that purchase on your credit card statement.

How expensive can foreign transactions be?

Foreign transaction fees typically include both an issuer and card network fee. The total cost of these fees is usually between 2.7 percent to 3 percent depending on the card issuer. If you’re curious about your credit card’s foreign transaction fee, you can find the details in your cardholder agreement.

While this may not seem like a big charge, keep in mind that foreign transaction fees can add up fast. If you travel often and spend thousands of dollars overseas each year, you should strive to minimize foreign transaction fees or avoid them altogether.

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. Make sure to check whether the credit card issuers you’re considering are likely to be accepted where you travel most often. Also, consider carrying more than one type of business card when you travel so that you’ll have a backup should your first option not be accepted.

The information about the Discover it Business Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.