No Foreign Transaction Fee Credit Cards in NZ

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.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Receive 300 bonus Airpoints Dollars™ when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

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*Terms and conditions apply

Updated: 24 Nov, 2024

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Card	Description	Purchase Rate (p.a.)	Balance Transfer	Cash Rate (p.a.)	Annual Fee	Interest Free Days
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 More Info » Apply Now »
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 More Info » Apply Now »

^ 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.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Receive 300 bonus Airpoints Dollars™ when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

More Info »

*Terms and conditions apply

Understanding Foreign Transaction Fees

What is foreign transaction fee?

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.

How are foreign transaction fees calculated?

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.

Common Misconceptions about No foreign exchange fee credit cards

• Fees are the same for all cards: The percentage charged as a foreign transaction fee can vary significantly between different credit cards.
• Only purchases in foreign currency incur fees: Even if a transaction is made in New Zealand dollars but processed by a foreign bank, it may still incur a foreign transaction fee.

Benefits of No Foreign Transaction Fee Credit Cards

Savings on foreign transaction fees

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.

Convenience for Travelers

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.

Additional Perks

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.

How to Choose the Right No Foreign Transaction Fee Credit Card

Assessing Your Travel Habits

Understanding your travel habits will help you identify a credit card that is aligned with your needs. Consider the following questions:

• How frequently do you travel abroad
• Your typical destinations
• How often do you spend money overseas including online transactions
• Do you prefer certain airlines or hotel chains?

Compare Credit Card Features

When comparing [no foreign transaction fee credit cards], pay attention to the following features:

1. Rewards Rates: Look for cards that offer high rewards rates on travel-related purchases.
2. Sign-up Bonus: Some cards provide substantial sign-up bonuses that can be very beneficial.
3. Annual Fees: Consider if the benefits of the card outweights any annual fees.
4. Travel Benefits: Check for additional travel benefits such as travel insurance, airport lounge access, and concierge services.

Reading the Fine Print

It is important to read the fine print before committing to a no foreign transaction fee credit card. Pay particular attention to the following:

• Hidden Fees: Look out for any hidden fees that might offset the benefits of no foreign transaction fees.
• Interest Rates: Be aware of the credit card’s interest rates, especially if you plan to carry a balance on the card.
• Redemption Policies: Understand the policies for redeeming rewards to ensure they align with your spending habits.

Tips for Using No Foreign Transaction Fee Credit Cards Abroad

Avoid Dynamic Currency Conversion

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.

Monitor Your Statements

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.

Maximise Rewards

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.

Common Pitfalls to Avoid

Hidden Fees

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.

Overlooking Other Benefits

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.

Frequently Asked Questions

What is a foreign transaction fee?

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%.

How can I avoid foreign transaction fees?

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.

Are there any downsides to no foreign transaction fee credit cards?

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.

Who benefits the most from no foreign transaction fee credit cards?

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.

Do all credit card issuers offer no foreign transaction fee options?

No, not all credit card issuers offer no foreign transaction fee options.

What other perks do no foreign transaction fee credit cards offer?

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.