topic Re: For frugal travelers - no FTF and no annual fee cards in Credit Cards

No foreign transaction and no annual fee cards

csryang — Sun, 20 Aug 2017 20:21:04 GMT

Last Updated: 8/20/2017

I am wondering if you all can help me reach a list of best cards, good for frugal travelers.

I do understand that there are AF cards that offer great bonuses which can offset the AF. I have several of them already.

I am just thinking long term. This is also for those who are lazy to churn cards or to put spend for the initial bonus.
Looking for best personal credit cards with no annual fee, no foreign transaction fee, available to most people, and easy redemption etc

Here's what we come up with (I will update whenever I get some feedback from you):

Everything (none category/general spend) -

PenFed Power Cash - 2% cash back everything (if some easy conditions met) (PIN capacity)

Capital One Quicksilver, Discover it Miles, NASA Platinum Cash Rewards - 1.5% cash back everything
Other contenders:

USAA Limitless - 2.5% cash back (need to be a service member or related to one)

Citizens Bank Cash Back - 1.65% cash back (need relationship to apply, 1.8% if redeem back to bank account)
BOA Travel Rewards - 1.5% cash back (1.65% if redeem back to bank account or up to 2.7% back depending on money deposited) (redeem only against travel charges)
USAA Preferred Cash Rewards or NavyFed cashRewards - 1.5% cash back (PIN capacity) (need military status or relationship)

Northrop Grumman Federal Credit Union - 1.5% cash back (limited geography - LA county)

Rotating Categories -
Discover it - 5% cash back
Other contenders:

Grocery -

PenFed Platinum Rewards - 3X points (about 2.55% cash back) (PIN capacity) (sometimes visa gift card redemption is not available)

The JetBlue Card - 2X points (about 2-2.8% cash back value for JetBlue flights) (PIN capacity)

Other contenders:

Huntington Voice - 3% back (limited geography)
USAA Cashback Rewards Plus Amex - 2% cash back (PIN capacity) (up to 3k spend per yr) (need military status or relationship)

Dining -

Capital One Premier Dining Rewards - 3% cash back

Sam's Club MC - 3% cash back, redeem once a year at Sam's (need Sam's Club membership)

Other contenders:

Barclay Arrival - 2% back (PIN capacity) (such value only when redeem against travel charges)

The JetBlue Card - 2-2.8% cash back value for JetBlue flights (PIN capacity)

Security Service Power Travel Rewards - 3.3% back (redeem for only gift card) (limited geography)
Huntington Voice - 3% back (limited geography)

NavyFed GoRewards - 3% back (PIN capacity) (need military status or relationship)

Gas -
Sam's Club MC - 5% cash back, redeem once a year at Sam's (need Sam's Club membership)
Other contenders:

PenFed Platinum Cash Rewards (Old Version, not available now) - 5% gas (only at the pump)
Fort Knox FCU Visa - 5% gas (paying gas inside likely not code as gas, not sure FTF) (limited geography)
USAA Cashback Rewards Plus Amex - 5% cash back (PIN capacity) (up to 3k spend per yr) (need military status or relationship)
Security Service Power Travel Rewards - 3.3% back (redeem for only gift cards) (limited geography)
Huntington Voice - 3% back (limited geography)

Travel -

AAA member rewards visa - 3X (about 3% cash back), min 5k points redemption, 1:1, points expire in 5 years

Barclay Arrival - 2X back (PIN capacity) (such value only when redeem against travel charges)
Other contenders:

PenFed Premium Travel Rewards Amex - 5X (about 4.25% back) on airfare only (PIN capacity) (sometimes visa gift card redemption is not available)

First National Bank TravElite - 3X (limited time, not available now)

Security Service Power Travel Rewards - 3.3% back (redeem for only gift card) (limited geography)
Huntington Voice - 3% back (limited geography)

As a side note...for international purchases:

Always pay in local currency with your card to avoid Dynamic Currency Conversion

Best debit cards to get cash at Foreign ATMs with reimbursed ATM fees:

Charles Schwab debit card (no minimum balance with high yield investor account, HARD pull on credit check)

Fidelity CMA checking account debit card (no fee getting ATM cash withdrawals but 1%FTF if used for purchases)

TD Premier account debit card (need $2500 minimal account balance)(limited geography)

Re: For frugal travelers - no FTF and no annual fee cards

UncleB — Sat, 02 Jul 2016 20:46:26 GMT

@csryang wrote:
I am just wondering if you all can help me reach a list of best cards, good for frugal travelers
- particularly best cards with no annual fee, no foreign transaction fee, and easy for redemption etc

Here's what I come up with (I will update whenever I get good feedback from you):

1.8% Everything - Citizens Bank Cash Back
Grocery - ?
Restaurant - ?
Gas - ?
Travel - ?

Other contenders:
Fort Knox FCU Visa - pay gas inside likely not code as gas, not sure FTF
Security Service power - redeem for only gift card
Huntington Voice - 3% Gas, Groceries, Restaurant, or Travel but geographic limitation

The first thing that comes to mind that meets all your stipulations is a Quicksilver Visa.

1.5% cash back on everything, no FTF, and easy cash back redemption.

$100 bonus for new accounts isn't too bad either for a no-AF card.

(Note that I would probably actually apply for Venture, get the even better sign up bonus and 2% the first year, then before the AF is due PC to a Quicksilver)

Re: For frugal travelers - no FTF and no annual fee cards

Anonymous — Sat, 02 Jul 2016 20:51:03 GMT

well a frugal traveler is going to probably want to get a few cards with sign on bonuses. but this list you are developing would be for long term or in between opening cards.

Re: For frugal travelers - no FTF and no annual fee cards

Anonymous — Sat, 02 Jul 2016 21:28:22 GMT

BOA Travel Rewards comes to mind; they're my no-FTF no-AF go-to when I'm travelling internationally. 1.5% back, 1.65% if redeemed into a BOA account, currently offering a $200 bonus with $1000 spend. There's a redemption threshold (I think it's $25) and technically you have to apply the redemption to a travel purchase, but that's never been an issue for me since a huge variety of things count as "travel" for redemption puposes.

Re: For frugal travelers - no FTF and no annual fee cards

csryang — Sat, 02 Jul 2016 21:29:34 GMT

@Anonymous wrote:
well a frugal traveler is going to probably want to get a few cards with sign on bonuses. but this list you are developing would be for long term or in between opening cards.

Well sure - A frugal traveler, if he or she is smart enough, MS or churning credit card bonuses will definitely put them WAY ahead.

That is not the point of this post.

I just thought that maybe we could build a list of some unique great cards for travelers who are firm with no fee cards with easy redemption.

I do not think this kind of topic was discussed much at all.

Re: For frugal travelers - no FTF and no annual fee cards

Anonymous — Sat, 02 Jul 2016 23:17:35 GMT

Well, I just got back from overseas travel. So, here are my thoughts:

I took four cards with me (five, if you count Discover, which has no FTF, but also not widely accepted outside of the US, but I did use it at airport restaurants coming and going)

AAdvantage

Southwest

Quicksilver

Sams Club

Both QS and Sams have no AF.

However, sometimes the AF is worthwhile. AAdvantage is waived the first year. But it also pays for Global Entry ($100), which includes TSA PreCheck, and trust me, it is WELL WORTH IT. (How soon are you travelling? Make sure you have enough time to apply before going). Also, AAdvantage has really nice worldwide car rental coverage. To me, it has a lot of benefits and will have a place in my wallet for a long time.

OP, what airline are you flying? One big reason for my liking the AAdvantage card, is the airlines it gives me access to (Qantas, especially), so if you have a preferred airline or one that you are specifically flying for this trip, even more than the AAdvantage card, look at that airline's card. Many if not most of them have these same benefits.

Re: For frugal travelers - no FTF and no annual fee cards

Open123 — Sat, 02 Jul 2016 23:29:05 GMT

No fee options for use abroad:

1. QS - 1.5%.

2. BofA Travel rewards - best in class when used in conjunctin with Preferred rewards.

3. CU options - I'm sure there are some, but my knowledge on CU options are limited.

4. Discover - limited acceptance

5. Cap One Debit to use with cash back option for foreign currency.

6. Fid Amex - use for foreign currency at ATMs with all fees reimbursed

A few tips. Always insist on local currency and refuse home currency (dynamic exchange rubbish). Never buy currency, but exchange at airport from a Bank ATM, and NOT one of those forex ticket machines. Always, ALWAYS use a no fee ATM Bank option or cash back after a purchase with a no FTF debit card.

Re: For frugal travelers - no FTF and no annual fee cards

Open123 — Sat, 02 Jul 2016 23:42:38 GMT

@Anonymous wrote:
@Open123 wrote:
No fee options for use abroad:

1. QS - 1.5%.
2. BofA Travel rewards - best in class when used in conjunctin with Preferred rewards.
3. CU options - I'm sure there are some, but my knowledge on CU options are limited.
4. Discover - limited acceptance
5. Cap One Debit to use with cash back option for foreign currency.
6. Fid Amex - use for foreign currency at ATMs with all fees reimbursed

A few tips. Always insist on local currency and refuse home currency (dynamic exchange rubbish). Never buy currency, but exchange at airport from a Bank ATM, and NOT one of those forex ticket machines. Always, ALWAYS use a no fee ATM Bank option or cash back after a purchase with a no FTF debit card.
Ive always read that its far better to take out local currency at a bank's ATM once you arrive at your travel destination. You're saying its better to do an exchange at the airport?

Yes, I should have been more clear. Use the ATM at the arriving airport (the local currency you want to use), not departing one (USA for me).

Re: For frugal travelers - no FTF and no annual fee cards

Anonymous — Sun, 03 Jul 2016 00:31:42 GMT

@Open123 wrote:

6. Fid Amex - use for foreign currency at ATMs with all fees reimbursed

Do you mean Fid Amex (which I think has a 1% FTF and will soon cease to exist) or the Fidelty CMA debit card?

Re: For frugal travelers - no FTF and no annual fee cards

Anonymous — Sun, 03 Jul 2016 00:36:05 GMT

@Open123 wrote:
@Anonymous wrote:
@Open123 wrote:
No fee options for use abroad:

1. QS - 1.5%.
2. BofA Travel rewards - best in class when used in conjunctin with Preferred rewards.
3. CU options - I'm sure there are some, but my knowledge on CU options are limited.
4. Discover - limited acceptance
5. Cap One Debit to use with cash back option for foreign currency.
6. Fid Amex - use for foreign currency at ATMs with all fees reimbursed

A few tips. Always insist on local currency and refuse home currency (dynamic exchange rubbish). Never buy currency, but exchange at airport from a Bank ATM, and NOT one of those forex ticket machines. Always, ALWAYS use a no fee ATM Bank option or cash back after a purchase with a no FTF debit card.
Ive always read that its far better to take out local currency at a bank's ATM once you arrive at your travel destination. You're saying its better to do an exchange at the airport?
Yes, I should have been more clear. Use the ATM at the arriving airport (the local currency you want to use), not departing one (USA for me).

thanks for the clarification. Im trying to figure which debit card to use in Australia because NFCU, PenFed and USAA all hit you with international transaction fees for atm withdrawals.

Re: For frugal travelers - no FTF and no annual fee cards

Open123 — Sun, 03 Jul 2016 01:13:28 GMT

@Anonymous wrote:
@Open123 wrote:

6. Fid Amex - use for foreign currency at ATMs with all fees reimbursed

Do you mean Fid Amex (which I think has a 1% FTF and will soon cease to exist) or the Fidelty CMA debit card?

This! Really sloppy with my writing today.

Re: For frugal travelers - no FTF and no annual fee cards

Open123 — Sun, 03 Jul 2016 15:06:47 GMT

@Anonymous wrote:
thanks for the clarification. Im trying to figure which debit card to use in Australia because NFCU, PenFed and USAA all hit you with international transaction fees for atm withdrawals.

You're going to have a great time! F on Virgin Atlantic is an incredible experience. When you're there, try their Peking Duck. Believe it or not, the best Peking duck I've ever had was in Sydney, not HK, Beijing, or anywhere in Asia. Though, with no tipping, it may take 2 hours from order to when the duck actually shows up. But, worth the wait!

Not sure if you have time to set this up, but my here's what I usually do. The moment I land, I look for any Bank ATM (avoid the forex ones) and withdrawl local currency with my Fidelity CMA (Fid Debit reimburses all ATM fees). Since my Fidelity brokerage (with all the funds) is separate from the CMA, I transfer funds from brokerage to CMA when necessary. Need international data or Wifi (should be readily available).

When in town, I'll buy a small item with my Cap One Debit, and request cash over. There's no forex and no currency conversion. This cashback (from any grocer) is probably the most efficient, assuming you need to (1) buy a small item, and (2) can live without the 1.5% cashback you'd earn from a non-forex CC.

Have a great trip!

PS - Can't stress this enough, always select local currency. Even some Bank ATMs will try to trick you by giving you an option for the dynamic currency conversion. Any time you see the "convenience to be charged in your home currency," sternly refuse. Always, always pay with local currency.

PS 2 - Never exchange foreign currency stateside and never exchange with anything other than a local Bank ATM (with any Debit that reimburses ATM fees) or the cashback option with a non-forex debit card. Never, ever use foreign exchange machines or retail forex services.

PS 3 - Exception - if you're a high enough value client, some US Banks will give you near market conversion rates. However, I don't like to (1) have that much foreign currency (will be earning rewards, not using cash), and (2) having tons of cash going through airports.

Re: For frugal travelers - no FTF and no annual fee cards

Anonymous — Sun, 03 Jul 2016 15:05:56 GMT

This is exactly why USAA's 1.5% Visa is my next card. No annual fee and no FTF, plus cash back. Although I will admit that the Capital One Quicksilver is hands down the best card in this scenario. $100 cash bonus, there's a zero APR period, and they have that partnership with Uber.

I think all of the 5% cash back cards have heavy foreign transaction fees. So I think finding cards like the Quicksilver, which only offer 1.5%, is really the best option. I currently have my Delta, but it's AmEx, and I travel to Europe a lot...so I definitely need a Visa/MC. Some annual fee cards can be worth it, but generally the cards I mentioned is a better option if all you're concerned about is saving money on fees.

And aside from credit cards, it helps to have a debit card that has minimal fees. Schwab refunds all ATMs worldwide, as does Fidelity, however Fidelity does have a 1% FTF. I travel a lot and personally use USAA, which refunds me on ATMs worldwide but does have a 1% FTF. But yes, always choose local currency and always use the ATM to get cash.

Re: For frugal travelers - no FTF and no annual fee cards

Open123 — Sun, 03 Jul 2016 15:12:44 GMT

@Anonymous wrote:
And aside from credit cards, it helps to have a debit card that has minimal fees. Schwab refunds all ATMs worldwide, as does Fidelity, however Fidelity does have a 1% FTF. I travel a lot and personally use USAA, which refunds me on ATMs worldwide but does have a 1% FTF. But yes, always choose local currency and always use the ATM to get cash.

Right, likewise, since I don't have the Schwab, I use two cards. When abroad, Fid Debit for ATMs and Cap One for Debit purchase cashback. For those with Schwab, they havve an all-in-one option, which is incredibly convenient!

Re: For frugal travelers - no FTF and no annual fee cards

Anonymous — Sun, 03 Jul 2016 15:17:15 GMT

@Open123 wrote:
@Anonymous wrote:
And aside from credit cards, it helps to have a debit card that has minimal fees. Schwab refunds all ATMs worldwide, as does Fidelity, however Fidelity does have a 1% FTF. I travel a lot and personally use USAA, which refunds me on ATMs worldwide but does have a 1% FTF. But yes, always choose local currency and always use the ATM to get cash.
Right, likewise, since I don't have the Schwab, I use two cards. When abroad, Fid Debit for ATMs and Cap One for Debit purchase cashback. For those with Schwab, they havve an all-in-one option, which is incredibly convenient!

I have long considered switching to Schwab. When I'm traveling, I actually use cash more than cards. Many of the countries I travel to are behind the times with cards. I was in Hungary recently for example, and almost no places take cards there because of how high the fees are...so it's definitely a cash society. And I find myself eating at small restaurants that only take cash.

But I could do much worse than what I have now...1% FTF isn't THAT bad, I could still be saving some money though if I went over to Schwab.

Re: For frugal travelers - no FTF and no annual fee cards

Anonymous — Sun, 03 Jul 2016 15:35:31 GMT

I know a lot of people who are happy with Schwab for ATM fee reimbursements. I use TD Bank, which has a checking account that reimburses all ATM fees and doesn't charge FTF as long as my balance is over $2500. Saved me at least $150 in the past year while traveling, probably more!

Re: For frugal travelers - no FTF and no annual fee cards

Closingracer99 — Mon, 04 Jul 2016 01:45:31 GMT

The JetBlue card? They have an AF free version which gets you points and has no FTF...

Re: For frugal travelers - no FTF and no annual fee cards

csryang — Mon, 04 Jul 2016 18:41:10 GMT

@Anonymous wrote:
Well, I just got back from overseas travel. So, here are my thoughts:

I took four cards with me (five, if you count Discover, which has no FTF, but also not widely accepted outside of the US, but I did use it at airport restaurants coming and going)

AAdvantage
Southwest
Quicksilver
Sams Club

Both QS and Sams have no AF.

However, sometimes the AF is worthwhile. AAdvantage is waived the first year. But it also pays for Global Entry ($100), which includes TSA PreCheck, and trust me, it is WELL WORTH IT. (How soon are you travelling? Make sure you have enough time to apply before going). Also, AAdvantage has really nice worldwide car rental coverage. To me, it has a lot of benefits and will have a place in my wallet for a long time.

OP, what airline are you flying? One big reason for my liking the AAdvantage card, is the airlines it gives me access to (Qantas, especially), so if you have a preferred airline or one that you are specifically flying for this trip, even more than the AAdvantage card, look at that airline's card. Many if not most of them have these same benefits.

I think Sams does charge FTF?

I definitely understand that there are AF cards that offer tons of benefits but down the road, I might need one with no AF. I do have CSP and Amex plat that offer great coverage for CDW worldwide.

I do not really have a specific airline that I fly though... and I have tons of miles already. I just need to use them wisely

@Open123 wrote:
No fee options for use abroad:

1. QS - 1.5%.
2. BofA Travel rewards - best in class when used in conjunctin with Preferred rewards.
3. CU options - I'm sure there are some, but my knowledge on CU options are limited.
4. Discover - limited acceptance
5. Cap One Debit to use with cash back option for foreign currency.
6. Fid Amex - use for foreign currency at ATMs with all fees reimbursed

A few tips. Always insist on local currency and refuse home currency (dynamic exchange rubbish). Never buy currency, but exchange at airport from a Bank ATM, and NOT one of those forex ticket machines. Always, ALWAYS use a no fee ATM Bank option or cash back after a purchase with a no FTF debit card.

Awesome suggestions and great information for all travelers. Thank you!

Fid Amex debit has a 1% FTF I think?

@Anonymous wrote:
This is exactly why USAA's 1.5% Visa is my next card. No annual fee and no FTF, plus cash back. Although I will admit that the Capital One Quicksilver is hands down the best card in this scenario. $100 cash bonus, there's a zero APR period, and they have that partnership with Uber.

I think all of the 5% cash back cards have heavy foreign transaction fees. So I think finding cards like the Quicksilver, which only offer 1.5%, is really the best option. I currently have my Delta, but it's AmEx, and I travel to Europe a lot...so I definitely need a Visa/MC. Some annual fee cards can be worth it, but generally the cards I mentioned is a better option if all you're concerned about is saving money on fees.

And aside from credit cards, it helps to have a debit card that has minimal fees. Schwab refunds all ATMs worldwide, as does Fidelity, however Fidelity does have a 1% FTF. I travel a lot and personally use USAA, which refunds me on ATMs worldwide but does have a 1% FTF. But yes, always choose local currency and always use the ATM to get cash.

I agree with your point and updated my first post.

@Anonymous wrote:
I know a lot of people who are happy with Schwab for ATM fee reimbursements. I use TD Bank, which has a checking account that reimburses all ATM fees and doesn't charge FTF as long as my balance is over $2500. Saved me at least $150 in the past year while traveling, probably more!

Great suggestion. I updated my first post.

@Closingracer99 wrote:
The JetBlue card? They have an AF free version which gets you points and has no FTF...

I did not know about this card at all. Nice suggestion. First post updated.

Re: For frugal travelers - no FTF and no annual fee cards

creditfan — Mon, 04 Jul 2016 18:55:51 GMT

@Open123 wrote:
@Anonymous wrote:
@Open123 wrote:
No fee options for use abroad:

1. QS - 1.5%.
2. BofA Travel rewards - best in class when used in conjunctin with Preferred rewards.
3. CU options - I'm sure there are some, but my knowledge on CU options are limited.
4. Discover - limited acceptance
5. Cap One Debit to use with cash back option for foreign currency.
6. Fid Amex - use for foreign currency at ATMs with all fees reimbursed

A few tips. Always insist on local currency and refuse home currency (dynamic exchange rubbish). Never buy currency, but exchange at airport from a Bank ATM, and NOT one of those forex ticket machines. Always, ALWAYS use a no fee ATM Bank option or cash back after a purchase with a no FTF debit card.
Ive always read that its far better to take out local currency at a bank's ATM once you arrive at your travel destination. You're saying its better to do an exchange at the airport?
Yes, I should have been more clear. Use the ATM at the arriving airport (the local currency you want to use), not departing one (USA for me).

give schwab bank a thought, their debit card reimburse all fee worldwide. It's good to withdraw currency at foreign countries

Re: For frugal travelers - no FTF and no annual fee cards

UncleB — Mon, 04 Jul 2016 19:11:10 GMT

@csryang wrote:

I think Sams does charge FTF?

Sam's did away with the FTF on 3/1/2016.