With summer travel on the horizon, WalletHub released the results of a nationally representative International Credit Card Survey gauging people’s opinions on various aspects of spending money abroad, along with editors’ picks for the Best International Credit Cards of 2025 and a new Currency Exchange Study that highlights easy ways to save.
Key Findings:
- Predatory Practice: More than 4 in 5 Americans say foreign transaction fees are a rip-off.
- Ill-Informed Cardholders: Nearly 1 in 3 Americans don’t know whether their credit card has a foreign transaction fee.
- Few Understand Foreign Fees: Only 12% of Americans understand when foreign transaction fees apply.
- Exchange Rate Savings: 81% of Americans don’t know that using a credit card gets them the best exchange rate when traveling abroad.
- Receipts in Local Currency: More than 4 in 5 Americans don’t realize that it’s better to have the receipt in the local currency (not USD) when making a purchase with a credit card while traveling abroad.
- Prepared to Switch Banks: Nearly 3 in 5 people say they will consider switching credit card companies the next time they get charged a foreign transaction fee.
- Savvy Traveler Savings: A no foreign transaction fee credit card saves travelers an average of 8.59% relative to airport currency exchanges and 5.57% compared to exchanging currency at the average bank.
- Best International Credit Cards: Based on a comparison of 1,500+ credit cards, the WalletHub Award for 2025’s Best International Credit Card goes to the Chase Sapphire Preferred® Card. It has great travel rewards and no foreign fees.
“If you’re planning an international trip, make sure to apply for a credit card that does not charge foreign transaction fees but does offer a big initial bonus early in the planning process. Around 90% of credit cards charge foreign fees, which more than 4 in 5 people say are a rip-off, according to a new WalletHub survey. The best travel rewards cards not only lack foreign fees, but they currently offer bonuses worth $1,000+ in travel.
Hundreds of dollars in free money could make a trip abroad much more affordable, as could a lower exchange rate. Credit cards automatically offer the best exchange rates, saving you nearly 9% compared to exchanging hard currency at the airport. So, instead of waiting to get charged a foreign fee before switching credit card companies, as nearly 3 in 5 people say they would do, go on the attack and seek out savings wherever you can find them. When the time comes to use your card abroad, make sure to sign your receipts in the local currency rather than U.S. dollars. Letting the merchant convert the total to U.S. dollars can cost you up to 10%.”
- John Kiernan, WalletHub Editor
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