No Annual Fee Credit Cards with No Foreign Transaction Fees

Information verified correct on October 21st, 2016

If you enjoy online shopping or if you’re going overseas, compare and save with cards which have no foreign transaction fees and no annual fees.

Credit cards typically charge 2-3% for overseas transactions. No foreign transaction fee credit cards waive this charge and let you make purchases without the extra fees. This type of credit card is ideal for shopping online and making purchases whilst overseas. Compare this type of credit card with $0 annual fee to save even more.

Compare No Foreign Transaction Fee Credit Cards with $0 Annual Fee

Rates last updated October 21st, 2016
Purchase rate (p.a.) Overseas ATM Withdrawal Fee Foreign Currency Conversion Fee (MC) Annual fee
Bankwest Zero Platinum MasterCard
Complimentary travel insurance, 24/7 Concierge service. Plus no foreign transaction fees for online and overseas purchases.
17.99% p.a. $0 0% of transaction value $0 p.a. Go to site More info
28 Degrees Platinum MasterCard
This credit card offers no annual fee, no currency conversion fees and no international transaction fees.
21.99% p.a. $0 0% of transaction value $0 p.a. Go to site More info

Card issuers with no foreign transaction fees in Australia

Card IssuerStandard Foreign Transaction FeeCredit Card
28 Degrees                           0%28 Degrees Platinum MasterCard
ANZ                           0%Rewards Travel Adventures card
Bankwest                           0%Platinum credit cards only
Coles                           0%Rewards credit card only

What fees can you be charged when making transactions overseas?

  • Currency conversion fees. Charged for converting the foreign currency back to AUD.
  • Foreign transaction fees. Charged for making the overseas transaction.
  • Overseas ATM withdrawal fee. Charged on top of the cash advance fee for withdrawing money whilst overseas.

How this type of credit card can benefit you on your next trip

  • No annual fee. This type of credit card doesn’t charge the yearly service fee as well as the fee for making international purchases.
  • No currency conversion fee. Cover the cost of your bank converting money into a foreign currency and are usually around 2% – 3% of the transaction amount. This fee is waived when using this type of credit card.
  • No foreign transaction fees. This fee is charged for making purchases overseas and is less common amongst Australian credit cards.

From the example below it is clear that travel credit cards can save you a considerable amount since you don’t have to pay any currency conversion or foreign transaction fees or overseas ATM withdrawal fees.

How much can you save with a travel credit card? – Example of fees and charges

28 Degrees MasterCardOther Credit Card with standard fees
Foreign Transaction Fee0%3%
Currency Conversion Fee0%3% of transaction value
Overseas ATM Withdrawal Fee$0$3 per withdrawal
Amount of Purchases made$3,000$3,000
Amount of withdrawals made55
Total cost of using credit card overseas over 12 months$0$195

Rates and fees only used for example purposes only. 

Compare more travel credit cards

How to compare no annual fee credit cards with no foreign transaction fee

  • Currency conversion fee. Outstanding offers in this category will charge 0% for converting foreign currency back to AUD. This will allow you to make overseas purchases without extra charges.
  • No annual fee. Competitive offers will provide $0 annual fee so you can save by paying less fees and spend on the things that you want.
  • Complimentary insurances. If you’re a regular traveller, then you may want to consider a credit card that has complimentary travel insurance. This includes medical and hospital cover, loss/damage/theft, delayed baggage, as well as car hire insurance excess. Otherwise, there are other insurance covers like purchase security cover, purchase extended warranty, purchase price guarantee as well as complimentary concierge.
  • Interest-free days on purchases. Most credit cards offer interest-free days on purchases, which allow you to enjoy purchases without paying interest for longer than 30 days.
  • Complimentary travel insurance. If you’re looking to make purchases overseas and during your travels then complimentary travel insurance may be of great benefit. These insurance policies are included with the credit card and provide cover for overseas emergency medical assistance, cancellation and rearrangement expenses, trip disruption and loss of luggage and personal items.

Things to consider when choosing this type of card


  • No fees. These cards don’t charge an annual fee or foreign transaction fees, which means that you could potentially save up to hundred of dollars per trip.
  • Internationally friendly. Most of these credit cards are designed for online shoppers and those who travel frequently, so if you fit into that category these credit cards may be able to save you a lot of money.


  • No rewards program. To make up for the annual fee, these credit cards are not linked to a reward program. So while you make big purchases or fly on airlines, you can’t offset part of the cost with the rewards or miles.

Frequently asked questions about no annual fee credit cards with no foreign transaction fees

What is the *best credit card for travel?

Outstanding travel credit cards typically possess the following benefits: no foreign currency conversion fees and transaction fees, $0 overseas ATM withdrawal fees and interest-free days on purchases. To make a full comparison please see our travel money page.

Where can I find out more about exchange rates?

To find out more about exchange rates and bank fees, please see this page about the basics of foreign exchange rates and foreign currency.

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13 Responses to No Annual Fee Credit Cards with No Foreign Transaction Fees

  1. Default Gravatar
    Neil | August 22, 2016

    Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees

  2. Default Gravatar
    Gary | November 11, 2015

    I am moving to Cambodia from Australia. I belong to ANZ but they charge the cash conversion rate but not the withdrawal fee. Is there a card that I can get that abolishes both conversion and withdrawal fees there. This NOT for purchases, simply ATM withdrawals only. I intend to transfer money from my bank to it on a monthly basis.
    Thanks Gary

    • Staff
      Jonathan | November 11, 2015

      Hi Gary, thanks for your inquiry!

      Please see this page for credit cards with no overseas ATM withdrawal fees.



  3. Default Gravatar
    Gary | October 5, 2015


    We have a trip to Thailand organised and I am considering the 28 Degrees Platinum Mastercard as there are no currency conversion or transaction fees. Are the currency conversion rates offered at the time you make a purchase likely to be similar between all banks? Is this card recognised and accepted widely in thailand?

    Also this card does not have complimentary travel insurance but we currently have a Platinum Awards Mastercard and Amex with Commonwealth, so I am thinking of using this for the travel insurance. Just confirming my thinking is along the correct lines. Thanks Gary L

    • Staff
      Sally | October 6, 2015

      Hi Gary,

      Thanks for your questions.

      That is correct, the 28 Degrees Platinum MasterCard doesn’t charge currency conversion or international transaction fees.

      According to the 28 Degrees website, ‘The foreign exchange rate is calculated by MasterCard International on a daily basis according to daily foreign exchange fluctuations. The conversion will consist of two calculations if the transaction is made in foreign currency – it will first be converted to US dollars and then converted to Australian dollars for listing on your transactions.’

      MasterCard is widely accepted internationally, so you shouldn’t have any trouble accessing your funds in Thailand wherever MasterCard is accepted.

      That’s correct, the 28 Degrees Platinum MasterCard doesn’t offer complimentary insurance. If you already have another card that comes with complimentary insurance (and you meet the eligibility requirements), this could be an option for you. To decide which insurance cover is best for you, read the terms and conditions to understand what you’ll be covered under and the eligibility requirements you’ll need to meet.

      Please see our Thailand Travel Money Guide for further information.

      I hope this has helped.



  4. Default Gravatar
    chan | January 23, 2015

    If I have money in credit in my credit card and withdrawal the money in an ATM overseas, will I still be charged interest?

    • Staff
      Jonathan | January 23, 2015

      Hi Chan,

      Thanks for your inquiry!

      Depending on the credit issuer overseas ATM withdrawals can attract fees such as currency conversion fees and international ATM cash advance fees, with certain cards including interest free periods on purchases which can be taken advantage of to pay less interest.

      Was there a specific credit card issuer you were inquiring about that I can help you with?

      I hope this has helped,



  5. Default Gravatar
    Mindy | July 1, 2014

    Can you tell me which is the best Business Credit Card, preferably with no Annual Fee and no Foreign Transaction Fees?

    • Staff
      Shirley | July 1, 2014

      Hi Mindy,

      Thanks for your question.

      Please compare business credit cards on this page. While some may no annual fee, its a lot harder to track down one that doesn’t charge currency conversion fees.


  6. Default Gravatar
    Mellingtons | June 5, 2014

    I was wondering what would be the best way to use my money overseas. My partner and I are getting married in Ireland later this year so we will need to bring money to pay for the wedding.

    Since we will be bring more than the average holiday money I was looking for some advice with the best options.

    1. Exchange the currency into cash
    2. Transfer into an Irish bank account
    3. Get 3 or 4 currency card
    4. Use a credit card and cash

    Thanks for your help


  7. Default Gravatar
    Stev | March 1, 2014

    With the change of the 28 degree cash advance fee; any other suggestions for a fee free credit card with no cash advance fee for a credit card with positive credit ?

Credit Cards Comparison

Rates last updated October 21st, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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