As a frequent traveler, you may have heard of the American Express Blue Cash credit card. This card offers many rewards and benefits to its users, but it also charges foreign transaction fees. In this article, we will explore the American Express foreign transaction fee for Blue Cash cardholders and provide insights on how you can avoid these fees.
Introduction: What is American Express Blue Cash?
Before we delve into foreign transaction fees, let’s first understand what American Express Blue Cash is. This credit card is designed to provide cashback rewards to its users, and it comes in two variants: Blue Cash Everyday and Blue Cash Preferred. Both cards offer cashback rewards on everyday purchases, such as groceries, gas, and streaming services.
Understanding Foreign Transaction Fees
A foreign transaction fee is a charge imposed by credit card companies for transactions made outside of the country where the card was issued. This fee typically ranges from 1% to 3% of the transaction amount and can add up quickly if you frequently travel abroad.
American Express Foreign Transaction Fee
Like many other credit card companies, American Express charges foreign transaction fees for its cardholders. The foreign transaction fee for Blue Cash cardholders is 2.7% of the transaction amount. For example, if you make a $100 purchase while traveling abroad, you will be charged an additional $2.70 in foreign transaction fees.
How to Avoid Foreign Transaction Fees
The good news is that there are ways to avoid foreign transaction fees. Here are some tips:
Use a Different Card
One of the easiest ways to avoid foreign transaction fees is to use a different credit card that does not charge these fees. Many credit card companies, including Capital One and Chase, do not charge foreign transaction fees on their credit cards.
Get a Card with No Foreign Transaction Fees
Another option is to get a credit card that does not charge foreign transaction fees. If you are a frequent traveler, this may be a better option for you. Some credit cards that do not charge foreign transaction fees include the Capital One Venture Rewards Credit Card, the Chase Sapphire Preferred Card, and the Discover it Miles card.
Use Cash
If you are traveling to a country where credit cards are not widely accepted, it may be better to use cash. This way, you can avoid foreign transaction fees altogether.
Conclusion
In conclusion, American Express Blue Cash is a great credit card that offers many rewards and benefits to its users. However, if you plan to use this card while traveling abroad, you will need to factor in the foreign transaction fee. Luckily, there are ways to avoid this fee, such as using a different card or using cash. With these tips in mind, you can make the most of your American Express Blue Cash credit card while traveling abroad.
FAQs
- What is the foreign transaction fee for American Express Blue Cash? The foreign transaction fee for American Express Blue Cash is 2.7% of the transaction amount.
- Can I avoid foreign transaction fees with American Express Blue Cash? No, you cannot avoid foreign transaction fees with American Express Blue Cash. However, you can use a different credit card that does not charge these fees.
- What are some credit cards that do not charge foreign transaction fees? Some credit cards that do not charge foreign transaction fees include the Capital One Venture Rewards Credit Card, the Chase Sapphire Preferred Card, and the Discover it Miles card.
- Is American Express Blue Cash a good credit card for travelers? Yes, American Express Blue Cash offers many rewards and benefits to its users, making it a great credit card for travelers.
- Can I use cash to avoid foreign transaction fees? Yes, you can use cash to avoid foreign transaction fees.