Best Travel Cards with No Annual Fees [2024 Guide]: Debit & Credit Options
Travel cards are optimized for international use, with extras like ways to hold a foreign currency balance, extra rewards when you spend overseas, or easy ways to avoid foreign transaction fees.
Travel cards can be either debit or credit cards, and may be issued by major banks, card networks, or specialist non-bank alternatives like Wise or Revolut. Whichever you choose, picking a card with no annual fee can mean you get all the perks when you travel, but don’t have to pay ongoing costs.
This guide walks through 5 of the best travel cards with no annual fee for US customers, so you can see if any might fit your specific spending needs.
Key points: Best cards with no annual fees
Here are the cards we’ll investigate in more detail as we dive into the best travel cards with no annual fees:
- Wise Travel Debit Card: Hold 40+ currencies, and spend with the mid-market exchange rate and low fees from 0.43% in 150+ countries
- Revolut Travel Debit Card: Hold 25+ currencies, and pick your account plan to suit your needs and spending pattern – no-fee currency exchange available to fixed plan limits
- Capital One 360 Debit Card: Spend internationally with no foreign transaction fee – and very few fees to worry about overall; network exchange rates apply
- Bank of America Travel Rewards Travel Credit Card: Spend and earn rewards, with no foreign transaction fee and no annual fee
- Discover Travel Credit Card: Travel credit card with no foreign transaction fee and extra perks like reward points that never expire
We’ll take a look at each provider more in detail, later.
Are there travel cards with no annual fee?
Yes, you can get travel cards without annual fees, including debit and credit cards. Generally travel cards have some features specific to international use, whether that’s ways to hold a foreign currency balance, no foreign transaction fees, or extra cash back when you spend overseas.
Picking a card with no annual fee – or no monthly fees – means you can use your card as and when you like, with no ongoing costs to cover. This guide looks at both debit and credit cards, including major bank options – and some alternatives you may like to consider, like Wise and Revolut.
Best international travel cards with no annual fees 2023
This guide walks through a selection of no annual fee travel cards from different provider types. We’ve got a couple of smart international debit cards from non-bank providers, plus a debit card from a major bank, and 2 travel credit cards. This gives a great overview into the options available for US customers – let’s start with a head to head comparison, and dive into the detail right after:
| Travel card | Annual or monthly fee | Card features | Fees | Exchange rates |
|---|---|---|---|---|
| Wise Travel Debit Card | No annual, or monthly fees | Hold and exchange 40+ currencies Spend in 150+ countries
| Exchange fees from 0.43%; no foreign transaction fee Some free ATM withdrawals monthly, 1.5 USD + 2% fees after that | Mid-market rate currency exchange |
| Revolut Travel Debit Card | Standard plans have no monthly fee Premium plans – 9.99 USD/month Metal plans – 16.99 USD/month | Hold and exchange 25+ currencies Spend in 150+ countries Accounts for under 18s available | Some no fee ATM withdrawals monthly, 2% fees after that 1% out of hours currency conversion fee | Mid-market rate currency exchange to plan limit; fair usage fee of 0.5% after that |
| Capital One 360 Debit Card | No annual, or monthly fees | Checking account and card from major bank Brach services available Very few fees to pay | Domestic wire fees 30 USD International wire fees 30 USD – 40 USD where available – you may not be able to send money overseas with this account | Network rate |
| Bank of America Travel Rewards Travel Credit Card | No annual, or monthly fees | Earn rewards as you spend No foreign transaction fee | 18.24% – 28.24% variable APR after introductory offer 3% cash advance fee | Network rate |
| Discover Travel Credit Card | No annual, or monthly fees | No foreign transaction fee | 17.24% to 28.24% variable APR after introductory offer 10 USD or 5% cash advance fee | Network rate |
*Details correct at time of writing – 7th December 2023
Wise Travel Debit Card
Who is it for? Customers looking for low cost ways to hold, send, spend, and exchange 40+ currencies with a handy, low cost travel debit card
Wise is a specialist provider which has digital account options you can use to hold 40+ currencies and spend internationally with a linked debit card which is accepted globally.
Add money in USD and simply allow the card to make the conversion at the point of transaction, or convert your funds to the currency you need ahead of time. In either case you get the mid-market rate and low, transparent fees – plus some free ATM withdrawals globally every month.
- Hold and exchange 40+ currencies
- Manage your money with just your phone
- Mid-market currency exchange with conversion fees as low as 0.43%
- Spend in 150+ countries
- No ongoing fees or minimum balance
| Wise card pros | Wise card cons |
|---|---|
| ✅ Hold multiple currencies, with no fee to spend currencies you hold ✅ Mid-market exchange with fees from 0.43% ✅ Convert in advance or let the card do it for you – the fee is the same ✅ Spend in 150+ countries, send payments to 160+ countries ✅ Ways to receive payments from others in multiple currencies, too | ❌9 USD card order fee ❌ 1.5 USD + 2% ATM fee once free withdrawals are exhausted ❌ You may wait a few days for your card to arrive by mail |
Wise fees: 9 USD card order fee: 1.5 USD + 2% ATM fee once free withdrawals are exhausted; currency exchange from 0.43%
Here’s how to order your Wise card:
- Register a Wise account online or in the Wise app
- Add a currency balance in USD or another supported top up currency
- Tap the Cards tab in the app, and follow the prompts to order your card
- Complete any required verification step
- Pay the one time fee, and your card will be mailed to you
Revolut Travel Debit Card
Who is it for? Customers looking for a travel debit card for 25+ currencies, which also comes with extras like accounts for under 18s, and options to upgrade to an account with annual/monthly fees for more perks
Revolut offers various different account options for US customers, including the Standard plan which has no monthly or annual fee. If you’d prefer you can upgrade to an account with monthly costs, which also unlocks extra benefits and higher no fee transaction limits. This gives flexibility to pick the account that suits your spending habits.
All Revolut accounts can hold and exchange 25+ currencies, and come with a linked debit card for global spending. You’ll get mid-market exchange rates to your plan’s limits, then pay a 0.5% fair usage fee. There are also some no fee ATM withdrawals monthly with all accounts.
- Hold and exchange 25+ currencies – all accounts have some no-fee currency conversion every month
- Choose from an account with no monthly or annual fee, or upgrade to an account with ongoing fees if you’d rather
- Spend in 150+ countries
- Get extras like accounts for younger family members and ways to save
- In network ATM withdrawals have no fees; accounts have some no fee out of network withdrawals monthly
| Revolut card pros | Revolut card cons |
|---|---|
| ✅ Hold and exchange 25+ currencies ✅ Get some no-fee currency conversion every month, depending on the plan you pick ✅ 3 different account types, so you can upgrade if you use your account often ✅ No fee to have your card delivered ✅ Saving and budgeting features | ❌Some accounts have ongoing fees ❌ Fair usage fees apply once account no fee limits are exhausted ❌ Out of hours currency exchange fees of 1% apply |
Revolut fees Standard plans have no monthly fee, Premium plans – 9.99 USD/month, Metal plans – 16.99 USD/month; Some no fee ATM withdrawals monthly, 2% fees after that; Mid-market rate currency exchange to plan limit; fair usage fee of 0.5% after that; 1% out of hours currency conversion fee
Here’s how to order your Revolut card:
- Register a Revolut account in the Revolut app
- Tap Cards, and then Add new
- Complete any required verification step
- Complete your mailing details, and your card will be mailed to you
Capital One 360 Debit Card
Who is it for? Customers looking for a low fee checking account with no ongoing charges, and a debit card which has no foreign transaction fees
If you’d prefer a travel card which is linked to a checking account from a major US bank, the Capital One 360 account may appeal. It’s a low fee account, with very few transaction costs and no annual or monthly charge for either the card or the underlying account. You’ll not pay any foreign transaction fee, making this a good option for international use as well as home spending. Some features on this account – such as options to make international payments – may be limited, so it’s important to read through the terms and conditions carefully if you intend to use this as a primary checking account.
- No fuss, low fee checking account from an established bank
- No foreign transaction fee when you’re abroad
- No monthly or annual fee to pay for the account or card
- Get all the options you’d expect from a bank – additional services and products are easily available for existing customers
| Capital One 360 Debit Card pros | Capital One 360 Debit Card cons |
|---|---|
| ✅No ongoing fees, and very few transaction fees to worry about ✅ Branch network for face to face service ✅ No foreign transaction fee when you’re abroad ✅ Ways to pay with Zelle, plus ways to deposit cash if you ever need to ✅ Major bank, with plenty of other account and card options if you decide to change or upgrade | ❌ Some features may be limited ❌At least 30 USD for wire transfers ❌ No multi-currency balance options |
Capital One 360 Debit Card fees: 30 USD domestic wire fee, where available, international wires cost 30 USD – 40 USD; some fees for checking services apply
Here’s how to order your Capital One card:
- Go to the Capital One website and hit Open Account
- Enter your name, address and SSN
- Add a balance
- Once your balance is cleared and your identity is verified, your account will be opened and you’ll get your account and routing number
Bank of America Travel Rewards Card
Who is it for? Customers looking for a no annual fee, no foreign transaction fee credit card with reward options and great global acceptance
The Bank of America Travel Rewards Card offers rewards on spending, which you can trade in for flights, hotel stays, vacation rentals, baggage fees, and at restaurants. There are attractive opening offers – at the time of writing these include extra bonus points for new customers and an initial 0% APR. After any opening offers expire, you’ll pay a variable interest on your spending if you don’t repay your bill in full every period, and as with other credit cards, penalty fees may apply if you miss a payment or don’t pay at least the minimum required amount.
- No annual fee and no foreign transaction fee – making this good for overseas use
- Great offers for new customers, including reduced costs and extra bonus points
- Trade in your rewards flexible, for a good range of treats and practical items
- Relatively low cash advance fees – but still more costly than using a debit card
| Bank of America Travel Rewards Card pros | Bank of America Travel Rewards Card cons |
|---|---|
| ✅ Extra bonus offers for new customers ✅ Earn reward points on all spending which you can trade for travel benefits ✅ No annual fee, no foreign transaction fee ✅ Spread the cost of purchases over a few months if you need to ✅ Secure way to spend | ❌ Interest and penalty fees apply ❌ Subject to meeting eligibility criteria and a credit check ❌ 3% cash advance fee if you use your card at an ATM |
Bank of America Travel Rewards Card fees: 18.24% – 28.24% variable APR after introductory offer; 3% cash advance fee
Here’s how to order your Bank of America card:
- Go to the Bank of America website and hit Apply now
- Enter your personal and contact information
- Follow the prompts to enter the details needed for eligibility checks
- Once your account is approved, you’ll be sent your card in the mail
Discover Travel Credit Card
Who is it for? Customers looking for a travel credit card with great rewards which have flexible redemption options
Discover doesn’t have foreign transaction fees on any of its cards – but we’ve picked out this one in particular as the reward options can be cashed in for travel credit, or cash to make your foreign travel that bit more luxurious. There’s no annual fee, but it’s worth bearing in mind that the cash advance fees are pretty high so you may decide not to use this card to get cash from an ATM to cut your costs overall. Discover isn’t the most popular global network – so it’s also worth checking if it’s commonly available in your destination.
- No foreign transaction fee and no annual fee to pay
- Good reward options including bonus perks for new customers
- Cash in your rewards for different things, depending on your personal preference
- Get access to your FICO credit score as part of the package
| Discover Travel Credit Card pros | Discover Travel Credit Card cons |
|---|---|
| ✅ No foreign transaction fee, no annual fee ✅ Earn rewards as you spend, which don’t expire and don’t have blackout dates for redemption ✅ Rewards can be used as cash, credit against travel, or on Amazon or PayPal ✅ Secure option for overseas spending ✅ Access your FICO score | ❌ Discover network is not as popular in some countries as in the US – may not be accepted in certain locations ❌ Interest and penalty fees apply ❌ Cash advance costs are fairly high |
Discover Travel Credit Card fees: 17.24% to 28.24% variable APR after introductory offer; 10 USD or 5% cash advance fee
Here’s how to order your Discover card:
- Go to the Discover website and hit Apply now
- Enter your personal and contact information
- Follow the prompts to enter the details needed for eligibility checks
- Once your account is approved, you’ll be sent your card in the mail
How can you avoid paying an annual fee?
Avoiding annual fees can keep down the costs of your spending overall, and allow you to get a card which you use primarily when you travel, with no extra charges to worry about.
Here are a few tips to help you pick out the right travel card:
- Look out for debit or prepaid cards in particular – as they often don’t have any annual fee
- Read your card’s terms and conditions carefully to make sure you’re not caught out by surprise ongoing costs
- See if you can find a card which waives the annual fee for new customers – this can be a low risk way to see if a travel card suits your needs
- Pick a card from a non-bank alternative like Wise or Revolut which both have account options with no annual or ongoing fees
How do no-annual-fee travel cards work?
A no annual fee travel card allows you to get your card without paying fixed annual, monthly or ongoing charges. You’ll still find some fees apply in most cases – for example, a one time order fee or a card delivery fee, or fees based on how you transact. However, the advantage here is that you can choose a card which only charges you for the specific services you need, so you can use it as and when you need to without having fees to pay when the card is simply sitting at home.
Pros and cons of no annual fee travel cards
Pros:
- No ongoing charges so just pay the for transactions and services you use
- Cut the costs of international spending
- Cards are convenient and safe to use, at home and abroad
- Travel cards have international benefits, which can include multi-currency balances and no foreign transaction fees
- Cards are available from banks, direct from card networks, and from non-bank alternatives – giving you a great range to choose from
Cons:
- You may not get all the features and benefits you would with a card which has annual fees
- Transaction fees still apply, which can include cash advance or currency conversion charges
- You’ll need to complete your application for a new card, and wait for it to arrive in most cases – it’s not an instant option
How to get a travel card with no annual fees
Each travel card has its own application process, but in most cases you can order your card online or in an app, and complete all the verification and eligibility checks needed with nothing more than your laptop or phone.
Here’s what you’re likely to need to do to get a travel card with no annual fees:
- Research which card provider might suit your specific needs
- Go to the provider’s app or website and hit Open Account, or Register
- Enter your personal and contact information – usually name, address and SSN
- Complete any verification or eligibility checks needed
- Add a balance if you’re ordering a debit card
- Once everything is checked and approved, your account will be opened and you’ll get all you need to use and manage your card by mail
How to choose the best card for your travel
The right travel card for your needs will depend on how you plan to use it – including how frequently you’ll transact, how often you’ll be transacting overseas, and whether you prefer a debit or credit card. Here are a few things to consider:
If you’ll travel often: Picking a card that lets you hold multi-currency balances – like the Wise or Revolut cards – can reduce the costs of spending in multiple different currencies, without ongoing fees
If you’ll only use your card occasionally: No annual fee cards can be the best bet, particularly debit cards which tend to be cheaper and more flexible overall
If you want to spread the costs of travel: You’ll want to prioritize credit cards, but look carefully at the interest, including any introductory offers which may help you to reduce costs in the short term
If you want to reduce your costs as much as possible: Debit cards are usually cheaper overall than credit cards, and you can’t accidentally spend more than planned or run up an unexpected bill.
Related: Best travel cards without foreign transaction fees
Conclusion
No annual fee travel cards can offer lots of benefits for anyone who travels frequently – but because there are no ongoing costs, they’re also super helpful for people who only occasionally transact internationally. You’ll only pay for the services you need, and many card providers also have ways to upgrade if you find you use your card regularly and would prefer to pay ongoing charges to unlock more benefits.
If you’re thinking of a debit card which has low costs and lets you hold foreign currency balances, check out the Wise Travel Debit Card which is flexible enough to hold and exchange 40+ currencies, and offers mid-market exchange rates and low, transparent fees. Or if you want to spread the costs of travel over a few months, you might prefer a travel credit card like the Bank of America Travel Rewards Card. You’ll earn rewards as you spend, and although there will be interest to pay, this does allow you to pay back your costs gradually if you choose to.
Use this guide to get you started in picking the right no annual fee travel card for your needs.
FAQs: No annual fee travel cards
Why do some cards have annual fees?
Different travel cards are designed for different customer needs. You’ll be able to find some with no annual fees, such as the flexible debit cards from Wise and Revolut – but if you’re a frequent card user you might prefer a card with an annual fee which can also often have extra perks and benefits as part of the package.
Is a travel card with an annual fee worth it?
Whether or not a travel card will be worthwhile for you depends on how often you travel and how you prefer to manage your money. The benefit of a no annual fee card is that you can test it out with little risk – check out the no annual fee options from Wise and Revolut if you want a flexible debit card which has no ongoing costs and low service charges.
