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Should you send a credit card travel notice?

April 25, 2024 | 3 min read

There was a time when credit card issuers and banks requested travel notices so they’d know when you’d be using your card while you were away from home. But that’s generally a thing of the past.

However, it’s still helpful to double-check that your contact information is up to date in case you need to be reached while traveling. 

Key takeaways

• A travel notice can help your credit card issuer or bank know when any transactions are made while traveling.  
• You may not need to notify your bank or credit card issuer of your travel plans, thanks to improvements in fraud detection technology and security. 
• You don’t need to alert Capital One of your travel plans, and your credit card is covered for unauthorized purchases if your card is lost or stolen. 1  
• It’s a good idea to make sure your contact information is up to date in case your bank or credit card issuer needs to reach you during your trip. You might want to also have your credit card’s contact information saved so you can easily refer to it if you need it.

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What is a credit card travel notice?

A credit card travel notice is a way for you to alert your credit card company about your upcoming travel plans. An advance notice tells your credit card company to expect charges from another city, state or country . But it’s not as common as it used to be to set a travel alert before you use your credit card abroad or somewhere different. 

Do credit card companies require a travel notice?

Many credit card companies, including Capital One, no longer request travel notices. They’re generally not necessary these days due to improvements in fraud detection technology and the added security of EMV chips and contactless cards . But if you need to contact your credit card issuer, you might want to make sure you have the contact information saved somewhere so you can easily refer to it.

How to notify a bank or issuer about your travel plans

If your bank or card issuer requires you to set a travel notice, you might do it online, over the phone or through an app. Check with your bank or card issuer to learn how it handles travel notices.

Capital One travel notices

There’s no need to tell Capital One about your travel plans—even if you’re traveling abroad. Just make sure the contact information associated with your account is up to date. That way, Capital One can contact you if there are any issues with your card.

Traveling with a Capital One credit card

If you’re a Capital One cardholder and your card is lost or stolen, you can instantly lock your credit card to prevent it from being used for purchases. 2 And if you find it, you can unlock it just as easily to use your card again. The card lock feature is simple to use and takes just a few taps on the Capital One Mobile app . 3

You’re also covered by Capital One’s $0 liability for unauthorized charges policy. If your card is lost or stolen, you won’t be responsible for charges you did not authorize. 1

Want even more peace of mind? Add your mobile phone number to your account to automatically get alerts if Capital One notices potential suspicious activity. Capital One will message you from the same number every time so you can be confident it’s Capital One texting you. 4

These are just some of Capital One’s credit card security features .

Credit card travel notices in a nutshell

Your credit card company or bank may not need to be notified before you take a trip. That’s because of improvements in fraud detection technology and security. If you choose to set a travel alert, you can usually do it over the phone, online or in your bank’s or credit card issuer’s mobile app. But it’s a good idea to check with your bank or card issuer to see if it’s necessary to set a travel notice. 

Are you looking for a card with travel benefits, security features and no travel notices required? A Capital One travel credit card could be right for you. Compare Capital One’s travel rewards cards today. 

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5 Best Banks for International Travel

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Using the right bank can save you money when traveling abroad. When researching the best banks for international travel, features we considered included:

Low wire transfer charges.

Decent currency conversion rates.

International ATM fee reimbursement.

Foreign currency delivery to your home.

Here are our favorite banks for international travel.

Charles Schwab Bank: Best for using ATMs.

Capital One 360: Best on foreign transaction fees.

HSBC Bank: Best for expats with high balances.

Citibank: Best for wiring money.

Revolut: Best for nonbank multicurrency account.

Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to make sure our coverage is fair and accurate, so you can choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions .

Best Banks for International Travel

Our pick for

Schwab Bank

Why We Like It

Schwab Bank customers who use the Investor Checking Account get fees refunded from any ATM in the world. That kind of perk is usually only available for premium checking accounts at other banks.

Plus, the bank doesn't charge foreign transaction fees.

Pros: - Refunds on all ATM fees worldwide. - No foreign transaction fees. - Account earns interest. - No minimum balance requirement and no monthly fee. - Free travel and emergency assistance services, including emergency messaging, medical and legal referrals, emergency translation and lost luggage location.

Cons: - Checking account must be linked to a Schwab One brokerage account (but the account doesn’t have a minimum balance requirement).

Foreign transaction fees

Capital One

Though it’s not the only bank that doesn’t ding you for international purchases, Capital One 360 is a NerdWallet favorite because its fees are low across the board.

Capital One 360 doesn’t charge a foreign transaction fee for using your debit card outside the U.S. or for any transactions made in a foreign currency. If you want to use cash, the bank won’t charge you a fee for taking money out at an ATM (but it also won’t refund you if the ATM owner charges you a fee).

In comparison, many banks charge special fees when you make purchases abroad, or even if you buy something online from a retailer based outside the U.S.

Pros: - No foreign transaction fees. - No ATM fees. - No monthly maintenance fees.

Cons: - No refunds for fees charged by ATM owner.

Expats with high balances

In the U.S., HSBC only offers premium accounts that require a high balance to open. But for those who can swing the balance, this bank can be handy while living abroad. A few features make this bank handy for expats or frequent globetrotters: The bank doesn’t charge foreign transaction fees on debit card purchases; it lets depositors monitor and move money between HSBC accounts in multiple countries; and if you lose your wallet while traveling, you can access up to $10,000 in emergency cash.

Pros: - Can access up to $10,000 in emergency cash in U.S. dollars or local currency if you lose your wallet while traveling. - No foreign transaction fee on debit card purchases. - Account holders can receive international wire transfers for free.

Cons: - In the U.S., HSBC only offers premium accounts with high minimum balance requirements. - Outgoing international wire transfers may come with a fee if the receiving account is not also an HSBC Premier account holder. - Mobile apps are poorly rated.

Wiring money

Citibank, N.A.

While many banks offer customers a way to send remittances directly without going through a third-party wire transfer service, few do it as elegantly as Citibank, which offers free international transfers to other Citi accounts through the Citibank Global Transfers service.

Plus, if you need cash while you’re abroad, Citibank offers free withdrawals at its ATMs in more than 20 countries. And if you often find yourself in a hurry before a trip with too much to do, the bank will deliver foreign currency by the next business day to a Citibank branch, your home or office.

Pros: - Foreign currency delivery before a trip. - Free international transfers to other Citi accounts. - Citibank ATMs available in more than 20 countries.

Cons: - Non-premium accounts are subject to out-of-network ATM fees from the ATM owner. - If you need to wire money internationally to someone who doesn’t have a Citibank account, the fee could be as high as $35.

Nonbank multicurrency account

The Revolut account lets you hold and send money in more than 28 currencies and uses a real-time exchange rate. Exchanges done in the app, exchanges for a transfer and exchanges for a payment use the same rates. One catch is that Revolut will charge an exchange fee for transactions on the weekends.

Pros: - Can withdraw up to $400, $800 or $1,200 fee-free per month at out-of-network ATMs, depending on your plan. - Can hold and send money in more than 28 currencies. - Account earns interest.

Cons: - Foreign currency exchanges made on the weekends incur a fee. - Premium accounts have a monthly fee of about $10-$17, which can’t be waived.

More top choices for best banks for international travel

BECU: No foreign transaction fee ( read full review ).

Axos Bank: ATM foreign currency conversion fee reimbursements with World Checking account ( read full review ).

Navy Federal Credit Union: Branches in just under 10 foreign countries ( read full review ).

Varo: No foreign transaction fee ( read full review ).

Wise (formerly TransferWise): Multicurrency account with a debit card that doesn’t charge foreign transaction fees ( read full review ).

More strategies to keep banking costs down while traveling

Using money abroad can incur costs, but switching banks isn’t your only way to avoid them. Here’s a breakdown of different approaches and accounts to consider:

When spending money abroad:

Try a multicurrency account : Spend and hold different currencies in one account. This option is usually best if you live or work outside the U.S. for extended periods. Two mainstream providers are the financial tech firms Wise and Revolut .

Find a credit card with no foreign transaction fees : For everyday purchases when you can use physical cards or mobile wallets, a travel-friendly credit card can be useful.

When dealing with cash abroad:

Use a debit card with no foreign transaction or ATM fees : This is especially good for cash withdrawals, especially in countries where cash is heavily used. Generally, these debit cards, and the checking accounts they’re connected to, don’t have foreign transaction fees either.

Take advantage of currency exchange services from your bank : For cash you’ll bring on your next trip, see if your bank or credit union has this service since it’s cheaper than using kiosks at the airport.

When sending money abroad:

Consider nonbank money transfers : If you're sending a wire overseas while still in the U.S., companies such as Wise and OFX offer stand-alone transfers internationally that have competitive rates and low to no fees.

When managing wealth abroad:

Look into private banking : Private banking offers a personalized experience for high-net-worth individuals, which can include overseas considerations.

Open an offshore bank account : If you need help managing international business or investments, or if you'll be traveling long term, consider the merits of an offshore bank account.

Last updated on November 15, 2023

Methodology

We took a close look at over 90 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

Financial institutions and providers surveyed are: Affirm , All America Bank , Alliant Credit Union , Ally Bank , Amalgamated Bank , America First Credit Union , American Express National Bank , Andrews Federal Credit Union , Associated Bank , Axos Bank , Bank of America , Bank5 Connect , Bank7 , Barclays , Bask Bank , Bethpage Federal Credit Union , BMO , BMO Alto , Boeing Employees Credit Union , Bread Savings , BrioDirect , Capital One , Carver Federal Savings Bank , Charles Schwab Bank , Chase , Chime , CIBC U.S. , CIT Bank , Citibank , Citizens , Citizens Bank , City First Bank , Climate First Bank , Commerce Bank , Community First Credit Union of Florida , ConnectOne Bank , Connexus Credit Union , Consumers Credit Union , Current , Delta Community Credit Union , Discover Bank , E*TRADE , EverBank (formerly TIAA Bank) , Fifth Third Bank , First Foundation , First National Bank , First Tech Federal Credit Union , Flagstar Bank , FNBO Direct , Global Credit Union , GO2bank , Golden 1 Credit Union , Greenwood , Hope Credit Union , Huntington Bank , Industrial Bank , Ivy Bank , KeyBank , Lake Michigan Credit Union , LendingClub Bank , Liberty Bank , Live Oak Bank , M&T Bank , Marcus by Goldman Sachs , Navy Federal Credit Union , NBKC , One , OneUnited Bank , Pentagon Federal Credit Union , PNC , Popular Direct , Quontic Bank , Regions Bank , Revolut , Salem Five Direct , Sallie Mae Bank , Santander Bank , SchoolsFirst Federal Credit Union , Security Service Federal Credit Union , Securityplus Federal Credit Union , Self-Help Credit Union , Service Credit Union , SoFi , State Employees’ Credit Union of North Carolina , Suncoast Credit Union , Synchrony Bank , TAB Bank , TD Bank , Truist Bank , U.S. Bank , UFB Direct , Upgrade , USAA Bank , Varo , Vio Bank , Wells Fargo and Zynlo Bank .

How we rate banks and credit unions

To recap our selections...

NerdWallet's Best Banks for International Travel

• Schwab Bank : Best for Using ATMs
• Capital One : Best for Foreign transaction fees
• HSBC : Best for Expats with high balances
• Citibank, N.A. : Best for Wiring money
• Revolut : Best for Nonbank multicurrency account

Frequently asked questions

Banks that don’t make it expensive for you to use your debit card when you’re out of the country are best for international travelers.

Here are NerdWallet’s picks for best banks for international travel :

Some banks offer international bank accounts that U.S. citizens can open. International bank accounts generally require a high minimum balance.

Some banks allow you to make purchases and perform other transactions in other countries without charging a fee. Banks that don’t charge foreign transaction fees include Capital One 360, Discover Bank, HSBC Bank and Schwab Bank.

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• Checking Accounts

3 Best Debit Cards for International Travel

• Fidelity Cash Management
• Schwab High Yield Investor Checking
• Capital One 360 Checking

Frequently Asked Questions (FAQs)

There's a long checklist of things to be sure you've covered when you're traveling out of the country—like making sure you can spend money. Before jet-setting off to your next big destination, take a few extra steps to make sure you can access your funds if you need to without paying a ton of extra fees. For example, some debit cards charge a foreign ATM fee when you use an ATM in another country. You might also have to pay additional currency conversion or foreign transaction fees on each transaction you make. The best debit cards for international travel will help you reduce, or even eliminate, those fees.

Using a debit card over a credit card can be beneficial, because it's linked to your bank account. When you swipe, the funds are taken out of your checking account. That means you won't have to worry about repaying a credit card balance.

Using a debit card for international travel is useful for withdrawing local currency from an ATM for expenses like tipping or paying merchants who don't accept credit or debit cards. You wouldn't want to use a credit card at an ATM, since the transaction would be treated as a more expensive cash advance . So which are the best debit cards for international travel? Let's take a look.

Fidelity Cash Management Account

As a customer of the Fidelity Cash Management Account, you'll receive the Fidelity Visa Gold Check Card, which is one of the best debit cards for international travel. You'll pay a low 1% foreign transaction fee on transactions completed outside the United States.

You can also access more than one million ATMs worldwide and get reimbursed for ATM fees you're charged from other ATMs. EMV technology ensures that your information is safely transmitted when you're making purchases and withdrawals from ATMs, protecting your account from future fraud.

The card doesn't just save on ATM fees, it also includes a few extra perks that may come in handy while you're traveling internationally. With the Fidelity Visa Gold Check Card, you'll also get a 90-day extended warranty, travel and emergency assistance, worldwide travel accident insurance, and an auto rental collision damage waiver.

With the Fidelity Cash Management Account, you'll pay no monthly fees. You don't have to maintain a minimum monthly balance. Your deposits will be insured up to $1.25 million, which is more than traditional checking and savings accounts at other banks.

Schwab High Yield Investor Checking Account

With the Schwab High Yield Investor Checking account, you won't pay any fees on your checking account at all. That means no ATM fees when you use an ATM in another country, and no foreign currency conversion fee if you withdraw funds in another currency. Keep in mind that when you use an ATM outside your bank's network, the ATM operator may also charge you a fee.

You can't avoid the ATM fee, but Charles Schwab will refund it with no limits on the refunds. There are also no service fees or account minimums.

You'll need to open and link a Schwab One brokerage account, which can be opened and maintained with no fees. A brokerage account offers the ability to trade stocks, mutual funds, and other financial products.

Capital One 360 Checking Account

If you don't like the sound of opening a brokerage account, consider the Capital One 360 Checking Account for a debit card for international travel. Capital One doesn't charge a foreign transaction fee on transactions made in other currencies, which means you can use your debit card for purchases without paying for the currency conversion.

If you can locate a Capital One or Allpoint ATM while you're traveling, you won't have to pay an ATM fee on cash withdrawals either. The Allpoint network includes over 55,000 ATMs all over the world. You can download an app to your smartphone to locate an Allpoint ATM near you.

You can open a Capital One 360 Checking Account with no minimum deposits and no minimum balance requirements. You can also earn 0.10% APY on your balance.

Do you need to let your bank know when you travel with your debt card?

It's always a good idea to contact your bank before you use a debit card while traveling. Banks and credit card issuers try to protect you from fraud and will block transactions that look suspicious or outside your normal patterns of behavior. If you don't notify your bank that you'll be spending money far from home, your transactions may be declined, creating unnecessary headaches on your trip.

Should you travel with a debit card?

Yes. Your debit card gives you much-needed access to cash when you're traveling, and it allows you to carry less cash at any given time. You should, of course, be careful not to lose the card—and call your bank immediately to freeze it if you do.

Wells Fargo. " Wells Fargo Consumer and Business Account Fees ."

Capital One. " Is There a Fee When I Use My Debit Card Abroad? "

Discover Bank. " How to Avoid Common Credit Card Fees ."

Fidelity Investments. " Debit Card Agreement and Disclosure Statement ." Page 2.

Fidelity Investments. " Cash Management FAQs: ATM/Debit Card ."

Fidelity Investments. " Cash Management From Fidelity ."

Consumer Financial Protection Bureau. " Amendments to Disclosures at Automated Teller Machines (Regulation E) ," Page 2.

Charles Schwab Corporation. " Brokerage and Trading Account ."

Charles Schwab Corporation. " Schwab Bank High Yield Investor Checking® Account ."

Capital One. " Is There a Free When I Use My Debit Card Abroad ?"

Allpoint. " What is Allpoint? "

Capital One. " What’s a 360 Checking® Account? "

TravelAsker

Can I use my Capital One debit card internationally?

Travel Destinations

January 7, 2024

By Kristy Tolley

Capital One Debit Card

Capital One is a well-known financial services company that offers a range of products and services, including credit cards, loans, and banking services. One of the most popular products offered by Capital One is their debit card, which allows customers to access their money for everyday transactions. However, many customers wonder whether they can use their Capital One debit card internationally.

Where Can I Use My Capital One Debit Card?

The Capital One debit card is widely accepted in the United States, and customers can use it to withdraw cash, make purchases, and pay bills at millions of locations that accept Mastercard. Some of the places where you can use your Capital One debit card include grocery stores, restaurants, gas stations, and online retailers.

International Usage of Capital One Debit Card

Yes, you can use your Capital One debit card internationally. However, you should be aware that there may be fees associated with using your card abroad, including foreign transaction fees and ATM fees. Additionally, some merchants may not accept debit cards, so it’s important to have alternative forms of payment, such as cash or a credit card.

Do I Need to Notify Capital One Before Traveling?

Yes, it’s a good idea to notify Capital One before traveling internationally. This will help ensure that your card is not flagged for fraud and that you can use it without any issues. You can notify Capital One of your travel plans through their website or by calling the customer service number on the back of your card.

What Are the Fees for Using My Debit Card Abroad?

There may be fees associated with using your Capital One debit card abroad, including foreign transaction fees and ATM fees. The foreign transaction fee is typically around 3% of the transaction amount, while ATM fees can vary depending on the bank and location. It’s important to check with Capital One to understand the fees associated with your specific account.

How Do I Avoid Foreign Transaction Fees?

One way to avoid foreign transaction fees is to use a credit card that does not charge these fees. However, if you prefer to use your debit card, you can try to find an ATM that does not charge fees or use a bank that has a partnership with Capital One to avoid ATM fees.

What Are the Exchange Rates for Capital One Debit Card?

The exchange rate for your Capital One debit card will depend on the current market rate at the time of the transaction. Capital One uses the Mastercard exchange rate, which is typically more favorable than other exchange rates.

Is My Capital One Debit Card Protected Abroad?

Yes, your Capital One debit card is protected abroad. Capital One offers fraud protection, so if your card is lost or stolen, you can report it and Capital One will help you resolve any issues. Additionally, many Capital One debit cards come with travel insurance and other benefits that can help protect you while traveling.

What Happens if I Lose My Debit Card Abroad?

If you lose your Capital One debit card abroad, you should report it immediately by calling the customer service number on the back of your card. Capital One will help you cancel your card and issue a new one, which can be sent to your location abroad.

How Do I Get Cash with My Capital One Debit Card?

You can get cash with your Capital One debit card by using an ATM. However, it’s important to be aware of ATM fees and to make sure that the ATM accepts your card. You can also get cash back at some merchants when making a purchase with your debit card.

How Do I Contact Capital One Customer Service Abroad?

You can contact Capital One customer service abroad by calling the customer service number on the back of your card. However, it’s important to be aware that international calling rates may apply. You can also contact Capital One through their website or mobile app.

Conclusion: Capital One Debit Card for International Travel.

If you’re planning to travel internationally, the Capital One debit card can be a convenient and secure way to access your money. However, it’s important to be aware of the fees associated with using your card abroad and to take steps to protect your card while traveling. By following these tips, you can use your Capital One debit card with confidence while exploring the world.

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Kristy Tolley

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A Little Advice… Handling Money for Travel: Credit, Debit, & Cash

Last updated on October 22, 2023 by Shannon

Handling money on the road is an important practicality for any international traveler. Let’s specifically discuss the best credit and debit cards for travel, with a note at the end about when and how to handle your cash (important since many developing countries are cash-based economies).

Although every traveler can benefit from the right card, long-term travelers and expats especially benefit from using cards that eliminate any and all foreign transaction fees. 

Together, my debit and credit cards and I have been through the good (no withdrawal fees), the bad (two percent transaction fees), and the ugly (whaddaya mean withdrawals and transactions are blocked in Slovenia? … I’m in Slovenia right now).

After more than ten years traveling, finding seamless banking solutions for international travel has made a huge positive impact on my travels. 

Let’s talk about all things money on the road. We’ll cover what should know about debit and bank cards, the best credit cards in general, and the best travel  rewards credit cards (those cards offering miles or points you can exchange for flights, hotels, etc.).

Table of Contents

Five Considerations for Travel Credit & Debit Cards

1. transaction fees.

Many credit card companies tack on a 1% to 3% foreign transaction fee to the total price of what you buy. For long-term travelers, this is a clear no-go. Luckily, you have options to circumvent these fees if you research ahead of time.

You must find out the percentage for foreign transactions made on your current cards. That means read the fine print—cards designed for use in the U.S. may charge you several percentage points to use the card internationally.

Check your credit cards, but check your debit card that you’ll use for travel, too. Since you can use debit cards as credit cards (swiped rather than used to withdrawal cash at an ATM), you need to check that fine print as well.

Jot these notes down in a spreadsheet or notebook so you can compare options.

2. Withdrawal Fees

Many banks charge a flat fee every time you use an international ATM. Ask before you leave. Many international banks  also charge a withdrawal fee, so you might get hit twice if your bank card charges a withdrawal fee on your travel debit card!

Only by researching your current bank cards fees can you determine if you should shop around for a travel-friendly bank account. Also look into if your bank has international branches in your destination city where you could use the local branch to avoid fees.

3. Are any countries blocked?

Believe it or not, you might not be able to withdraw any cash in some countries. Back in 2008, my local credit union blocked all transactions from Thailand and Slovenia—my small bank had designated them as locations “highly likely for fraudulent activity.”

And in 2023, my mother visited me in Spain and her credit union’s Mastercard credit card just couldn’t figure out its business—she had put a travel notice on her card but we never got it working throughout her two weeks, despite at least six phone calls.

Now that I use a different bank for primary debit card accounts, including when I travel, this is no longer an issue. If you’re also using a local credit union, talk with them in person about your planned trip. And consider carrying two separate bank debit cards to circumvent any issues accessing your money.

4. Online Banking

Can you access your account balance abroad, and even more, can you handle issues from overseas? You might assume yes, but again, it really can depend on the bank—local credit unions might have an IP address block outside the U.S. (mine does!).

Some banks also demand your personal presence to replace a lost card; other times banks only ship to the address on file. These are all huge potential headaches that you don’t want to know about when you’re traveling and have a credit card problem.

Basically, you want a bank that can handle remote support in case you need assistance from abroad—this particularly important for long term travelers.

Nowadays, most banks also offer a handy app you can use from your smartphone, which is ideal since logging in from random browsers and computers all over the globe is not safe.  

5. Carry Different Brands of Debit Cards

Visa and MasterCard are the most widely accepted credit and debit cards and you should to carry one of each type of card. As strange as it sounds, some countries primarily accept just one of the two brands.

Is There Really a Best Debit Card for Travel?

A resounding, yes! Most banks either charge foreign withdrawal fees every time you use your debit card at an ATM outside of your home country, or fees for withdrawals outside of your banking network.

Either way, those fees add up—if you’re on the road for a month and modestly withdraw money twice a week, you’ve blown $30 just on bank fees. Then, stack on top of your bank’s fee the fact that all overseas banks also charge a withdrawal as high as six dollars in many cases, and you are looking at $70 in banking fees—all money that is much better spent on your trip.

The Best Debit Card for International Travel

Charles Schwab is an online-based bank with unparalleled advantages for travelers—even after nine years since I signed up for my Schwab checking account, I have yet to hear of any other U.S. bank that even comes close to offering the range of free services Schwab offers travelers..

The Pros of Schwab for Travelers:

• no foreign transaction fees
• no ATM withdrawal fees
• reimburses withdrawal fees charged by any other bank
• never requires appearance at a bank branch to access services
• telephone customer service is a cinch, and email responses questions are prompt

The Cons of Schwab for Travelers

• there’s no bank branch where you can sit across from a human and demand answers (since nothing has ever gone wrong, I’ve never missed this)
• transferring funds around between accounts outside Schwab is not seamless (though customer service goes out of their to help ease the process)  

How to Avoid Paying Bank Fees When Traveling

When I left on my world travels , the U.S. had just entered the 2008 recession and I was moderately content with the $1 foreign withdrawal fee tacked onto ATM withdrawals from my local credit union checking account. Fast forward nine months.

As the recession hit hard, my credit union upped the fee to $2.50 per withdrawal. That hit my travel budget harder.

Once I returned Stateside, I switched to Schwab. Across nine years and 50+ countries, Schwab has lived up to its fee-less withdrawal promise. At the end of every month, Schwab reimburses my account for any withdrawal fees charged by another bank.

Considering Spanish and Thai banks charge $5+ per withdrawal, I love seeing a credit of $25+ bank into my account each month. This single feature is a huge asset for any travelers, but long-term travelers specifically.

You can’t afford to not bank with Schwab—to my knowledge, no other U.S. bank offers this feature.

Other great debit cards for international travelers:

• ING Direct : Read through the comments below—other people have raved about the ease of money transfers and service with ING.
• Capital One Direct Banking : This option also comes highly recommended in the comments for its easy online interface and lack of transaction fees.
• Caxton FX Global Traveller : This prepaid MasterCard has a diehard contingent of fans among some long-term world travelers.

In addition to ensuring my bank and credit cards cover these main areas, my father is also listed on my bank accounts in case surprising issues crop up (and they have over the years).

If you have a trusted family member or friend, consider allowing them to work on your behalf, if necessary. It takes good faith, because my dad has fully authority on my account, but if you have someone you absolutely trust, it’s handy to have them on your local accounts.

Travel Rewards Credit Cards—Necessary or Folly?

Sinking into deep debt for travel is not likely a great choice for most of us. Although I had debt when I left to travel, I actually spent less on world travel than I had living in Los Angeles and paid off my debt a few years into my long-term travels.

Afterwards, I was leery of credit cards—they fall into dangerous territory if you’ve ever abused them in the past (I had).

That said, things happen and it’s wise to travel with a credit card. They come in handy and should anything happen to your bank account (like no bank withdrawals in Slovenia!), and it’s the preferred way to secure a rental car.

I use my travel credit cards for things where cash won’t work (flights), and when I don’t want to swipe/risk my bank card (I rented a car in South Africa and was so glad that I used it instead of my bank card since they overcharged me and it took months to resolve!).

Then there is the subject of travel hacking—if you’re prepared to invest some time in seeking out good deals, you can amass a decent stash of airline miles or points before you even leave on your trip. You can then exchange those points can for flights, accommodation, rental cars, and more. Let’s assume you’re game for a travel rewards credit card—here are the best ones depending on your personal situation.

Travel Hacking: A Quick Overview

If you’re new to the idea of travel hacking, it boils down to this: You earn reward miles or points that you can then exchange for free travel. The majority of this activity centers on the U.S. market, where U.S. credit card companies offer deals and incentives for those willing to use credit cards and generally chase down special offers.

I am not an expert travel hacker by any stretch of the imagination—that Chase Reserve is my sole gambit into that world. As such, I won’t get into specific tips and advice of how to travel hack. I will just note that even if you approach it lightly, it can be an effective way to offset a few travel expenses.

If you have a long timeline before you leave on your world travels, look into the travel rewards cards so you can accumulate points throughout your daily life as you plan and save for your trip.

Even with just a light amount of travel hacking, it’s easy to offset at least a few plane flights or hotel nights. From just eight months of use on my first travel rewards card, the Chase Sapphire Preferred credit card, I bought a $1,200 flight to Africa.

That’s not an insignificant sum! And that was light travel hacking (Matt gets into what more serious travel hacking looks like). The Chase Sapphire Rewards cards are a truly great deal and have many devotees in the travel hacking crowd, not just me.

How to get started in travel hacking through credit cards:

• Sign up for credit cards with generous rewards programs : Many credit cards offer rewards programs that allow you to earn points or miles for every dollar you spend. These points or miles can often be redeemed for flights, hotel stays, or other travel-related expenses.
• Look for sign-up bonuses : Many credit cards offer large sign-up bonuses to new customers who meet certain spending requirements. For example, you might get 50,000 points if you spend $3,000 on the card within the first three months.
• Use your credit card for all of your expenses : To maximize your rewards, you should use your credit card for as many of your expenses as possible, as long as you pay off the balance in full each month to avoid interest charges.
• Join loyalty programs : In addition to credit card rewards, you can also earn points or miles through loyalty programs with hotels, airlines, and rental car companies. By staying at the same hotel chain or flying with the same airline repeatedly, you can earn rewards that can be redeemed for free or discounted travel.
• Look for promotions and deals : Keep an eye out for promotions and deals that can help you save money on travel. For example, you might find discounted flights if you book during a certain time period, or you might be able to save money on a hotel stay by booking during the off-season.

To dive deeper into this subject, head to the authorities on this topic:

• The Points Guy
• BoardingArea
• Canadian Travel Hacking
• Rewards Canada
• Head for Points UK
• Chris Guillebeau Travel Hacking

Chase Sapphire Reserve: My Concession to Travel Hacking

My first entry into the world of travel hacking happened in the summer of 2013, when I opened a Chase Sapphire Preferred  account as a way to earn enough miles to pay for my flights to Africa.

The card had a 40,000 point signup bonus, attractive ways to earn extra miles, and great international policies on rental car coverage and things of that nature. In 2018, I switched to the Chase Sapphire Reserve , which is even better—it offers priority lounge access, triple points on travel, and more.

Both cards carry annual fees, however. This turned the right option for me, but read on to decide if you’re better off going with a non-rewards travel card, which has no fees and could be better for a round the world trip, or if you’re still paying off your debt .

The Pros of Chase Reserve for International Travelers

• Chase travel cards offer no foreign transaction fees tacked onto international purchases.
• You earn either 40,000 and 50,000 bonus miles if you meet the spending requirement in the first three months—after that, the cards offer either two or three times the points on travel, depending on the card.
• The international customer support is top notch.
• You have full online account access and slick, intuitive interface.

The Cons of Chase Reserve for International Travelers

• The Sapphire cards carry an annual fee, so it’s best if you truly are playing the game of using the card to earn miles, otherwise you can receive many similar travel transaction fee the benefits on cards without annual fees.
• Rewards cards—most truly great travel and airline miles credit card—carry higher fees all around. If you’re prone to carrying a balance on your card, go with a credit card with lower fees.

Another option I have used in the past is Capital One. CapOne is a frequent traveler choice because it doesn’t charge foreign transaction fees. I carried this card until 2013. I hated the company’s customer service, but I couldn’t fault its offerings.

For travelers looking for many of the great benefits of a travel rewards card, but without the annual fee, then look at Capital One VentureOne . Capital One has consistently been the one North American credit card that never charges international transaction fees.

I carried my CapOne card throughout all 15 countries on my world trip itinerary and it worked in every single place. It doesn’t have any annual fees, so it could be a good option.

Now that I pay a hefty annual fee for my Chase Reserve card ($550 with a $300 refundable annual travel credit), I use that card exclusively to amass points there that buy my flights home to Florida see my family now that I am based in Barcelona .

Selecting the Right Credit & Debit Card for Your Travel Needs

I carry my Chase Reserve credit card in my arsenal because it lacks international transaction fees, it offers me lounge access at airports all over the world, and I earn three times the points on all travel dollars charged. The Preferred and Reserve are two of the bested rated travel points credit cards on the market.

If you’re shopping for an airline miles card, look at the Gold Delta SkyMiles by American Express. And for hotels cards, the Marriott Rewards Premier Credit Card is a Chase Visa card and is a good bet. Note, however, American Express is not widely accepted internationally, but it’s a great way to earn miles if you’re traveling in the U.S., or if you’re several years out from your long-term travels.

Best Credit & Debit Cards for Europe

Contactless payment is huge across all of Europe and the UK and you will feel like a Luddite without credit and debit cards with chips that allow for “tap and pay” features. There’s a good hack though, which turns all of your U.S. cards into European-friendly debit and credit cards.

Add your primary rewards card to your Apple Wallet—then it’s easy to tap and and pay and earn points. Since U.S. cards are not equipped with WiFi like European cards, by using Apple Pay you can seamlessly navigate the tap-and-go world on your European travels. There are days here in my home of Barcelona that I only leave with my iPhone since 95% of the locations accept Apple Pay.

In terms of fees—all of my above recommendations stand as the best options for Europe—and the rest of the world too! Because these cards don’t charge withdrawal fees, you don’t need to worry about finding a partner bank while traveling.

Cash: When and How to Carry it Safely

Many developing countries operate on cash economies. Although credit cards are essential in a pinch and work for booking flights, you will spend most of your money in cash when traveling throughout Southeast Asia, Africa, Central America, Central Asia, and many other locations.

It’s this cash-based factor that makes it so important for travelers to use banks that do not charge withdrawal fees.

This cash factor also means there are times you are carrying a lot of money in your pocket, purse, or money belt! It used to wig me out to have several hundred dollars on my person, but now I accept it as a part of the travel experience.

That doesn’t mean I’m going to make myself an easy target though! Here are some ideas about when, why, and how to safely use and carry your cash while traveling.

Carry a safety $100 dollars in USD.

Although you could use Euros or pounds, the USD is a strong secondary currency in many locations. When I traveled with my niece, I carried $175 dollars as our “just in case” fund, and I always stored it in a different spot than my credit and debit cards.

This cash works in a variety of circumstances: If the local ATM is broken, if you need to bribe your way out of a situation, if you’re injured and need to pay for immediate assistance, if your primary wallet is stolen, etc. I mention these because every one of those situations has happened to me over the past decade of travel.

Withdraw a four-to-seven days worth of local currency at a time.

You want enough cash to get you through the next few days, but not enough that you’re out of money if you’re robbed. By withdrawing a few days at a time, you ensure that a broken ATM or an unexpected emergency is easily handled.

Do not exchange money—withdraw from an ATM.

When you arrive at the airport, steer far clear of the exchange booths and instead hit up the ATM. I use the XE.com currency app so that I always know the local exchange rate, or you can usually be certain that the bottom right withdrawal option is for an amount between $80 and $200.

Keep cash in multiple spots.

Consider keeping cash in at least two spots. And if you are traveling as a couple, split credit cards and cash between you both. I always shove two twenties somewhere in a hidden luggage compartment, or I will put it in a bag with dirty socks and underwear if I am in a very sketchy hotel situation.

Another tactic is to carry a muggers wallet with a day’s worth of cash. My primary wallet is often in my purse, but I also carry a daily wallet (usually a small zip pouch) with charge and a wad of small local currency I can use at markets.

If you’re mugged, you would hand over this wallet and leave your main wallet or money belt hidden unless things were to escalate. Several travel friends have successfully used this tactic when mugged in South America.

That about wraps up every money recommendation from my ten years on the road. Between these three areas—debit cards, credit cards, and cash—there is no financial situation you can’t handle on the road.

If you have a favorite tip—be it for a favored card or a safety tip, let me know in the comments below! And use our other resources if you’re planning your world travels and want insider tips on finding great flights , accommodation , travel insurance , and more.

Disclosure: I have no degree in finance and there are no guarantees if you take my advice on using these companies. This is a personal, friendly recommendation from a fellow traveler; no more and no less. No one paid me to recommend these cards—every recommendation comes from personal experience and reader feedback and I personally have all of these recommended cards in my wallet. :)

30 thoughts on “A Little Advice… Handling Money for Travel: Credit, Debit, & Cash”

Great (juicy) information, but I prefer using my TransferWise debit card (Mastercard): the better option to travel around the world!

Thanks Igor for weighing in. I do like Transferwise in the idea of it, but when I signed up and started using it, I found that since I get paid solely in the U.S., that these cards recommended above all had better withdrawal or conversion rates (free and ATM fees reimbursed—never seen this elsewhere), and I didn’t end up using my Transferwise account at all. In what situations do you prefer it over a regular debit card like Schwab, where you get credits back every month for any bank anywhere that charges you a withdrawal fee?

Thanks so much for this! I’ve found many of your extra cash carrying / hiding habits to be very helpful. Additionally, in hotel rooms, I put a cheap loud motion detector in my closeted bags to scare off people rifling through my stuff. It HAS been set off.

Have you looked into the newish Transferwise “Borderless” accounts that come with a debt card (Mastercard waitlist)? They’re supposedly a boon to digital nomads… in particular for being able to send and receive funds in over 40 currencies. I’m not an expert, but the thing that stood out to me is that the “Borderless” account enables being paid in a slightly more traditional way, since it automatically sets one up with a bank account in 4 different currency zones.

From the website: British Pound – Get your own Account Number and Sort Code. Euro – Get your own SWIFT/BIC and IBAN details. US Dollar – Get your own Routing (ABA) and Account Number. Australian Dollar – Get your own BSB Code and Account Number.

I’d be curious to hear from working digital nomads who’ve used this!

So glad that the information has proven useful! I have looked into the Transferwise “Borderless” accounts, and several of my travel friends just love them. I ultimately decided that I didn’t need one because I have a local bank in Europe now that I am an expat, and my Schwab account has allowed me to transfer in currency from everywhere else in the world (including the UK, the EU, and Australia). But it would absolutely make good sense for many travelers who need to be paid in multiple currencies and either don’t have a Schwab account, or those doing serious business in alternate currencies. Again, several travel friends just rave about it so it’s definitely popular in the digital nomad community!

All excellent info. I will also praise ING. I’ve been using them since 2001 and never had any issues. I also use Schwab, love them but only negative is having to transfer funds from brokerage account into checking, and a Capital One MC, no issues with them. Chase recently eliminated international transaction fees. I’m using a British Airways Chase Visa as my main card and have had zero issues.

Thanks for weighing in Mike! I mail in deposits to my Schwab checking, so I hadn’t realized that they make it difficult to transfer funds like that, but you’re not the only one to point that out – a real drawback! As for Chase, if they really have taken away international fees then I just might get an account there, they have so many rewards points programs and the such! :)

As always Shannon, this is a fantastic bit of advice! I have been pondering the money handling question for a while now (starting my RTW in a week) and this answered a lot of my questions. I only wish Canada has comparable options. I’m hoping my American SSN helps me land a Charles Schwab account. I have read that in SE Asia, American dollars are the way to go. Do you happen to know if they are easy to get there, or if it is necessary to carry cash over (yikes!)?

Glad that you found some helpful stuff in this post Kerri! And it is too bad that you don’t have these options in Canada – though I hear that ING Direct is pretty good through the grapevine (ie other comments here in this thread). …As for the question of dollars – you are definitely going to want to bring over American $ rather than Canadian – and I say that you should always have at least US $100 stashed on you at the beginning of you trip – seriously good to have money on you if you get in a pinch, get stuck, lost – it’s just good to have. As far as restocking cash, Cambodia’s ATMs give out US$ when you use them, so you can restock there if need be! :)

I have to admit that I’m glad I brought my Capital One card with em to Italy. I caleld HSBC card to let them know I’m traveling and they say no problem they’ll make a note. When I got to there the card was decline and won’t let me charge anything. However Capital one worked. (And I never called them too). Good thing I had it with me.

That’s precisely why I love having multiple cards, different companies and logos on them – it’s just craptastic when they decide to not work on you! Glad that your CapOne card worked for you, it’s always in my wallet too :)

I have them both. We’re planning to use these 2 cards for our RTW trip and are test driving them right now. So far we really like them, but I guess the real test drive is still upcoming.

These should really do you well, I haven’t hadn’t had a single problem yet :) Just make sure to give them both the travel warning before you leave! :)

What I meant was, there is NOT a single pic in which your prettiness does not shine.

Great list of tips Shannon! This sounds a lot like the one nomadicmatt just did. Like you, I do cash, credit, and debit cards. Some people may not like using credit cards or could get into trouble with it but I love the idea. I’ve always been responsible with money and love my budget spreadsheet about as much as I do my blog. I am very frugal and financially responsible so I have no issues with a credit card. I know others who do online banking only and it seems to work well for them and it does save money on fees.

However, I do have a question for you. Since American credit and debit cards use magnetic stripe and some other countries use the chip and pin, have you ever run into any issues using your cards while traveling?

That’s a really great question – and I actually only encountered that problem in Europe when I was trying to book bus and train tickets online…they wanted a pin number of some sort… not sure what. But, the whole issue with the chips and what-not is why I always, always have a Visa and a MasterCard (and I carry an AmEx in Europe) and that got me through without any real hitches.

(PS – yeah, I saw Matt’s post but already had this queued up so went with it :)

Wow, Shannon, thanks so much for these tips! I have been thinking about this issue on and off for quite awhile, this helps a bunch.

Glad to help! It can make a difference on the road which one you choose, happy travels! :)

I’m a sucker for airline mile cards but for good ol’ fashioned banking I like ING – the online interface is great and makes it an attractive option even if you just use it to transfer money between other banks. It also has a higher than average interest rate on checking and savings :)

I’ll add ING to the list Anil, I haven’t really had much interaction with them but I like the fact that they’re good with online money transfers, that’s apparently an area where Schwab is not so hot. Will look into them! :)

Shannon, I have the Schwab checking account and maybe I have one that’s slightly different than yours because mine has no ATM fees but doing anything online is impossible. In particular, I can’t move funds around online which drives me insane.

We use Capital One Direct Banking for our checking which I really love because they give me a great rate on foreign currency fees, as well as their whole system is online and easy to use.

I love my Capital One No Hassle Miles card! We’ve actually had really good luck with their customer service. They refunded us $400 when Europcar overcharged us in Australia without any hesitation. I could do ads for Capital One . . . that’s how much I love them.

Hmm…I don’t do a lot of moving funds from my Schwab account because I run out of two accounts, and just really use my Schwab for travel (and fund it before I leave)…it seems a little crazy that they would make it that difficult to do your banking online since they’re an online bank!

Great tip on the CapOne banking – I have never looked into that, but I really prefer easy online systems so you’re not having to Skype on horrible connections to get things done!

This is REALLY helpful info!

I use a Capital One card and absolutely love it–although I feel you on the customer service! My only gripe is that it takes 20 minutes just to do one simple thing because they ask you a million repetitive questions–but in the end, they get it done, and that’s what matters. My home bank is Tri Counties, a community bank in Sacramento. They also never charge for ATM withdrawals and reimburse me for other bank’s fees, similar to Charles Schwab. Plus they give me an amazing interest rate and I love dealing with them when I’m at home–so friendly and helpful! Helps that my whole family banks with them, so I can ask any questions through them when I’m abroad. Might look into Charles Schwab though–been hearing lots of good things, although the online only part would take a bit of getting used to.

Christine, I might check out TriCounties to save money. Right now I use Chase and while it’s big, it has cost me money when I travel. And my current interest rates are AWFUL!

Chase has a lot of great programs and cash back incentives when you are in the States, by best friend uses them, but if you are heading out of the country you should definitely look into a bank that isn’t going to charge you ridiculous fees! :)

Thanks for including your local recommendation – I would love to find a bank that good in Florida, becuase I really like the local feel and being able to walk into a branch sometimes. But, Schwab is worth looking into if you need to change banks, or if you are looking to invest since they are really well known for that side of their business to!

I really enjoyed this, Shannon. I found it very interesting and informative. It was something I was curious about without ever really knowing I was curious about it. I am fortunate enough (for the moment) that I am not living paycheck to paycheck, but finances are always one of my concerns and priorities, and something that holds me back from doing all the things I want to do. I really, really enjoyed this article.

P.S. There is a single pic in which your prettiness does not shine!

Glad you liked it Bill and thanks for commenting! :) If you really really want something then it’s worth saving for…where there is a will there’s a way! What are your finances holding you back from?

Training how to SCUBA, then scuba and cage diving with Great White sharks.

Excellent and well worth waiting then! I know that’s one of your Big Dreams :)

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Best Debit Cards for International Travel: Fees, Rates & Features

If you’re planning your next trip overseas, or if you frequently shop online with retailers based abroad, you may be wondering if it’s worth getting an international debit card. International debit cards can cut the costs of currency conversion and foreign payments, making it cheaper and more convenient to spend overseas. 

This guide walks through why a multi-currency travel debit card can be a smart option, and some of the best cards available for US citizens and residents, including the Wise card and Revolut card . Let’s get started.

Quick summary: Best debit cards for international travel

Wise card – Linked to a multi-currency account, the Wise card lets you spend in over 150 countries and includes some fee-free ATM withdrawals. A one-time 9 USD fee is required for your first card.

Revolut card – Choose from three plans and hold and exchange over 25 currencies at the mid-market rate. You can also withdraw up to $1,200 per month or the currency equivalent fee-free, but you’ll need to pay a monthly fee to unlock all account features.

Capital One 360 Checking Account – This Mastercard offers international spending with no foreign transaction fees and uses the Mastercard exchange rate. It only operates in USD and offers an interest rate of 0.10% APY, with potential fees from non-network ATMs. 

Schwab Bank High Yield Investor Account – Offers a debit card with no foreign transaction fees and an interest rate of 0.4% APY, but it doesn’t accept foreign wire payments and you’ll have to open a linked brokerage account.

SoFi Checking Account – Comes with a linked international debit card and a competitive interest rate of 4.6% APY, but includes a small foreign transaction fee of 0.2% and potential out-of-network-fees.

Go to Wise Go to Revolut

Best travel debit cards for international travel: 5 Options in the US

Best international debit cards for travel: a comparison.

Choosing the best international debit card for you will require a bit of research. To help you get started we’ve picked out some of your favorite international debit cards for US citizens and residents – here’s what you need to know:

Wise offers physical and virtual cards to easily spend and make purchases in over 150 countries while enjoying free cash withdrawals of up to 100 USD per month, with low fees once you’ve hit your allowance. Spend in currencies you hold in your account, without any extra fees, and when you don’t have the currency balance you need, your Wise card will use smart conversion technology to automatically convert your money from the currency that has the lowest fees possible. You can also freeze and unfreeze your card in the app for added security while you travel or shop online.

Open a multi-currency Wise Account online or in the Wise app for free, to hold and exchange 40+ currencies with the mid-market exchange rate. You’ll be able to order your linked international debit card for a low one time fee of 9 USD, to spend in 150+ countries. Wise accounts also come with local bank details for 10 currencies including major currencies like USD, EUR, and GBP so you can get paid easily from other countries.

Get Wise Card Learn more here: Wise card review

Revolut card

Use your physical or virtual Revolut debit card to make purchases when traveling the world. Revolut international debit cards allow you to spend any currency you hold with no fees, and withdraw up to 400 USD/month anywhere in the world without any fees. You can also freeze your card for extra security and get a one-use virtual card for secure online shopping at home and when making purchases on international e-commerce sites.

Revolut offers accounts for US citizens and residents which can be operated online or in the Revolut app. You can get a Standard plan or choose to upgrade to an account with monthly fees to unlock more features. All accounts can hold and exchange 25+ currencies with the mid-market rate up to the limits in the specific plan type.

Go to Revolut  

Learn more: Revolut card review

Capital One 360 Checking card

  Capital One’s 360 Checking account offers a linked Mastercard you can use for international spending with no extra foreign transaction fee. You’ll get the Mastercard exchange rate when you spend overseas, which is usually pretty fair, and for peace of mind, if you ever lose, misplace or have your card stolen, you can lock it from your Capital One app in just a few taps. Plus, it comes with other handy security features like identity theft protection and 0 USD liability for any unauthorized charges.

Capital One won’t charge you for ATM withdrawals, but if you use an out of network terminal, the ATM operator might have their own fees you need to pay. 

Schwab Bank High Yield Investor card

If you’re looking for a debit card with no foreign transaction fees that’s linked to an account which offers interest on your balance, the Schwab High Yield Investor account may suit you. Use your card to make purchases abroad and online anywhere Visa is accepted and easily withdraw cash from ATMs globally. You can also enjoy unlimited ATM fee rebates wherever your card is accepted. 

You’ll need to have or open a brokerage account at the same time as you get your card, but there’s no requirement to fund the brokerage account if you don’t want to. Accounts have few fees, but do have some limitations – such as no option to receive foreign wires to the account and card network exchange rates apply. 

SoFi Checking card

The SoFi Checking account and card offer another neat way to open an online account, and get a linked international debit card that you can use in over 130 countries , like the UK, Canada, Australia and Japan. You can make purchases and withdraw cash anywhere the Mastercard is accepted, with funds being withdrawn in the currency of the country. However, there is a small fee when you spend internationally. 

Benefit from interest rates on both checking and savings accounts, including 0,50% APY on checking balances and 4.60% APY at the time of writing on savings balances . But , before you choose this account, weigh up if the interest will cover the costs of international spending to make sure it’s the best option for you.

What is an international debit card?

International debit cards work much like your regular debit card, but provide features which are particularly useful when spending in foreign currencies .

You’ll be able to use your card abroad

• to make payments in person, often with contactless and mobile payment functions,
• to pay online
• to make ATM withdrawals overseas.

There are several different types of international debit cards available for customers based in the US, which we’ll look at in more detail a little later.

How do international debit cards work?

As with your regular debit card, withdrawals and payments made with your international debit card will be deducted directly from your account balance. That can make it easier to budget, and ensures you won’t accidentally run into interest or penalty fees as you may with a credit card.

You’ll be able to use your international debit card to make foreign currency purchases, often with better exchange rates and lower fees compared to using a normal card for payments.

International cards are usually quite convenient to order and activate – the entire process can often be done online or using an app.

How can I use an international debit card abroad?

You’ll be able to use your international debit card for payments and withdrawals anywhere the card’s network is accepted.

• It’s worth knowing as a US customer that international cards are commonly offered via the Visa and Mastercard networks, as these offer great global coverage.
• Amex and Discover aren’t as popular in some destinations, so you’ll need to check if your card will be accepted wherever you’re headed.

Different international debit cards have their own terms and conditions, which can include pretty varied fees and charges, too. You’ll need to double check over all the fees applied by the card issuer – your bank or preferred specialist provider. To help, we’ll look at some of the best options out there to kickstart your research in just a moment.

Important fees to watch out for

• Important fees to look at include any foreign transaction fee or currency conversion cost , and any charge to make ATM withdrawals.
• You’ll also need to look out for ATM service fees applied by the ATM operator,
• Mmake sure to always pay in the local currency wherever you are to avoid the high fees that come with dynamic currency conversion (DCC) transactions.

DCC is where you’re asked if you want to pay in dollars instead of the local currency when you’re abroad – it sounds convenient, but actually DCC can be an expensive option .

Using your international debit card to pay in the local currency is almost always the better choice.

How to get an international debit card for travel

If you choose an international debit card from a traditional bank you’ll usually need to open an account online or by visiting a branch.

Specialist providers like Wise allow customers to register and order a card quickly via an app or desktop site. To show how it works, here’s a look at how to get a Wise international debit card for instant, low cost spending:

• Register for a Wise account online or in the Wise app
• Verify your account by uploading images of your ID documents
• Order your card online or in the Wise app, by paying a one off charge
• Your card will arrive in the post soon after

Get Wise Card

International debit card fees & exchange rates

Here’s a comparison of the key costs involved in the 5 international debit cards we’ve looked at so far.

What are the transaction fees applied to an international travel debit card?

Using an international debit card can make it cheaper to spend in foreign currencies. However there are still likely to be some costs to pay which can vary by provider. Here are the most important ones to watch out for.

Foreign transaction fees

International debit cards may charge a foreign transaction fee or apply a fee for currency conversion. This is usually calculated as a percentage of the cost of the transaction. With standard bank debit cards, the foreign transaction fee you pay can often be around 3% of the total cost.

International debit cards can be cheaper with no foreign transaction fees – let’s look at the examples we’ve mentioned in this article:

Wise : No foreign transaction fees for spending currencies held enough balance of in the account, but currency exchange fees may apply. (details in the section below)

Revolut : No foreign transaction fees for spending currencies held enough balance of in the account, subject to a fair usage limit. (details in the section below)

Capital One : No foreign transaction fees are charged on international purchases.

Schwab : No foreign transaction fees are applied to international transactions.

SoFi : A small foreign transaction fee of 0.2% is applied to international purchases.

Currency conversion fees

Currency conversion fees are charged when you use an international debit card to make transactions in a currency that’s different from USD (your currency at home). These fees compensate for the cost of converting USD into your chosen foreign currency and are typically a small percentage of the transaction amount. 

Wise : Charges currency conversion fees starting from 0.43%, which can vary depending on the currency being converted.

Revolut : No fee for currency exchanges during foreign exchange market hours. Outside these hours, a 1.0% fee is applied. Standard plan users have a monthly limit of $1,000 for exchanges at this rate, after which a 0.5% fair usage fee is charged on additional amounts.

Capital One : No currency conversion fee is applied for international transactions.

Schwab : There are no currency conversion fees for Schwab debit cardholders.

SoFi : A 0.2% foreign conversion fee is applied to transactions, which is included in the transaction amount. Additionally, a 0.9% foreign convenience fee is charged but is covered by SoFi.

ATM withdrawal fees

Most international debit cards will have an ATM withdrawal fee, although this may be waived if you use specific ATMs. You may also find your card allows you to make withdrawals to a fixed limit for free, before applying a charge per transaction.

The operator of the ATM may also charge a fee, especially if you’re using a standalone ATM in a store, bar or shopping center. Learn more about How to avoid international ATM fees .

Wise : Offers up to 2 free ATM withdrawals or up to 100 USD per month, then a fee of 1.5 USD plus 2% of the transaction amount is applied.

Revolut : Provides no-fee in-network ATM withdrawals and up to 1,200 USD per month out-of-network without any fees, with a 2% fee applied after.

Capital One : Doesn’t charge for ATM withdrawals, but out-of-network ATM operators might charge their own fees.

Schwab : Offers free ATM withdrawals globally, with unlimited ATM fee rebates.

SoFi : No fees for ATM withdrawals from SoFi, but out-of-network ATM operators may charge their own fees.

Best debit card for international ATM withdrawal

An ATM card is basically just another way to describe a debit card. While the two terms are often used interchangeably, both refer to cards that let you make everyday purchases and withdraw money from your bank account via an ATM. 

When considering the best debit card for international ATM withdrawals, it’s important to look at the fees, exchange rates, and the global ATM network coverage of each provider:

• Wise : Ideal for travelers looking for a few free ATM withdrawals, Wise offers up to two withdrawals or 100 USD per month free of charge, followed by low fees of 1.5 USD plus 2% for every withdrawal after. They also provide competitive mid-market exchange rates for currency conversion.
• Revolut : Allows free ATM withdrawals up to 1,200 USD per month out of network, with a 2% fee after this limit. Revolut maintains mid-market exchange rates during foreign exchange market hours, making it cost-effective for currency conversions.
• Capital One : With no ATM fees from Capital One (though out-of-network operators may charge), and no foreign transaction fees, this card is a good option for those who prefer using a wide network of ATMs without worrying about additional charges.
• Schwab : Offers unlimited ATM fee rebates and no foreign transaction fees – an advantage for those who frequently withdraw cash while traveling.
• SoFi : SoFi doesn’t charge ATM fees, but out-of-network charges may apply. The card also has a small foreign transaction fee of 0.2%. This option might suit those who withdraw less frequently but want to benefit from occasional international ATM use.

Different types of debit cards for international travel

International cards can usually be broken into 3 categories: prepaid cards, debit cards from traditional banks and cards issued by specialist providers. Each card type has its own benefits and drawbacks – here’s a quick run through of what you need to know when you choose the right one for you.

Prepaid international debit card

Prepaid international debit cards, which are also called travel money cards, are usually issued by specialist providers. You’ll be able to order a card online or in some cases pick one up in a store, before topping up with dollars which can be converted for international spending. Prepaid cards have a range of fees which can include costs for topping up your account and converting to foreign currencies.

International card with traditional banks

If you get an international card from your regular bank you may need to specifically ask for your card to be activated for international spending, and a foreign transaction fee is likely to apply. You may also need to pay a foreign transaction fee whenever you convert from USD to the currency in the country you’re in.

International card with fintech providers

Getting a specific account and card designed for international travel can often be the cheapest and most convenient option available. You’ll be able to open and manage your account online or in an app, and depending on the account you select you may benefit from low transaction costs and currency conversion which uses the mid-market exchange rate.

Advantages of the international debit cards

Still unsure if an international debit card is right for you? Here are a few advantages to consider:

• Depending on the account you choose you may benefit from no foreign transaction fee and mid-market rate currency conversion
• Accounts are usually easy to set up, and can often be managed via an app for convenience and security
• Make local cash withdrawals wherever you are in the world, to avoid high fees to get your travel spending money
• Easy to budget and manage your international spending with no interest fees to pay

Are there any limitations on international ATM cards?

International debit cards aren’t always the best option. Before you decide to get a new card, consider these drawbacks:

• You may not be able to use your debit card to hire a car, or pay at the pump when buying fuel
• Debit cards may not be accepted for security deposits
• Accounts may have holding limits which mean you can’t use them for high value spending
• Chargebacks and refunds may take longer to get back to you

What to look at when choosing an international travel debit card

International debit cards are often linked to online or mobile accounts which let you manage your money easily on the go. There are several great providers available – and the card that suits you will depend on how you expect to use it. Here are a few things to consider when you choose:

• How can you access and manage your money – is the app or online service intuitive and easy to use?
• Can you hold and spend the currencies you need with your selected card?
• Is there a monthly fee for your account – or a minimum balance you need to know about?
• What are the currency conversion fees and how easy is the process?
• What exchange rate is used when you convert currencies?
• Is there a cost for making ATM withdrawals with your card – at home or abroad?
• How can you get customer support, and what languages is help available in?

One of the most important things to look at when selecting an international travel debit card will be the costs of currency exchange. The full fee you pay for converting currencies can be spread across an upfront conversion fee and a markup added to the exchange rate. If markups are used on the exchange rate that can mean you’re paying more than you think for your foreign spending – make sure you know the full details for your chosen account before you sign up.

Key takeaways: Best debit card to use overseas

For each of these providers, account opening, maintenance fees and features all vary, but the best card will all depend on your individual needs, including ATM usage, how often you travel and if you need more than one currency.

Wise – Multi-currency account that lets you hold and exchange over 40 currencies at the mid-market rate. Currency exchange fees start from 0.43% and there are no foreign transaction fees for spending in currencies held in your account. There is a 9 USD one-time fee for delivery when you order your first card. 

Revolut – Hold and exchange over 25 currencies at the mid-market rate within plan limits. Monthly fees range from a fee-free Standard plan to 16.99 USD/month for the Metal plan with additional account features. There are no foreign transaction fees for spending currencies you hold in the account, but there is a fair usage fee for conversions beyond your plan limit. 

Capital One – USD account with no account opening fee, no foreign transactions fees and a free card. Capital One doesn’t charge for ATM withdrawals, but out-of-network operators might, and uses the Mastercard exchange rate. 

Schwab  – USD account with free of charge ATM withdrawals and no foreign transaction fees. A brokerage account is required but there are no account opening or card fees. 

SoFi  – USD account with no fees for ATM withdrawals, although out-of-network charges may apply. There’s a small foreign transaction fee of 0.2% but there are no account opening or card fees.

Conclusion: Which debit card is best for international transactions?

Having an international debit card for your foreign currency spending can be cheap and convenient. It’s also far more secure than relying on carrying cash when you travel. There’s a pretty decent range of international debit cards available for US based customers, including cards from global banking brands and specialist providers. Use this guide to compare a few options and decide which might suit you best.

Get Wise card Get Revolut card

Best ATM cards for international travel FAQs

Does my debit card work internationally.

If you already have a debit card issued by your regular bank you may be wondering if you can just use that when you travel. In most cases it’ll be possible to use your US issued card overseas – however, you may run into relatively high fees. Visa and Mastercard are the most widely accepted networks in Europe and many other major destinations, so if you have Amex or Discover you’ll need to check coverage wherever you’re headed.

It’s also worth remembering that if you get an international debit card from a traditional bank you may need to inform them of your travel plans to ensure your card can be safely used overseas.

What is the best debit card to use abroad?

International debit card fees do vary between providers and can include currency conversion or foreign transaction fees, and charges to make ATM withdrawals. You’ll often find costs are lower when you pick a specialist provider rather than a traditional bank.

Which debit cards do not charge foreign transaction fees?

Several US banks have debit cards which don’t have foreign transaction fees – particularly if you choose a digital only account. Alternatively, online specialists often have debit cards you can use overseas with no fees, and multi-currency functionality. Use this guide to pick the right one for you.

Which banks have no international ATM fees?

When you use an international ATM you may be charged by your own bank, or by the ATM operator. Some online providers and traditional banks will reimburse the out of network fees, but there are usually limits applied. Use in-network ATMs whenever possible.

How to get an international debit card?

Get an international debit card from your regular bank – or for an alternative that may be cheaper and more convenient, register with an online specialist provider and get an account and card without needing to leave home.

What’s the advantage of using an international travel card?

International debit cards usually have features which make it cheaper and more convenient to spend internationally. Get an online multi-currency account from a specialist provider and you may also be able to receive, hold and exchange dozens of currencies in the same account.

What happens if my card gets lost or stolen abroad?

You may be able to block or freeze your card through the bank or provider’s app, or by calling them directly. Depending on the situation you may also need to get a local police report. Ask your provider or bank for advice if you’re unlucky enough to lose your card overseas.

Can I transfer money abroad from a foreign currency account?

With specialist providers you’ll be able to send international payments from your multi-currency account to a broad range of countries and currencies – often with a far lower fee compared to your normal bank.

You earned your Capital One miles sign-up bonus—Here are the 3 best ways to spend it

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Let’s say you recently applied for the Capital One VentureOne Rewards Credit Card, Capital One Venture Rewards Credit Card or Capital One Venture X Rewards Credit Card and secured your 75,000-mile welcome bonus (20,000 with the VentureOne). 

Now that you’ve got a hefty pile of miles, how should you spend it? 

Well, traditional wisdom states that you should redeem your miles through Capital One Travel to score a free flight, hotel or rental car. But in truth, that’s the third best option in terms of value. In fact, while 75,000 points will always be worth $750 via Capital One Travel, our first option here could potentially stretch their value up to 2 cents per point (CPP), or $1,500 in value. 

So without further ado, let’s explore the 3 best ways to spend Capital One miles. 

1. Transfers – up to 2 CPP

It should come as no surprise to veteran travelers that transferring your miles is actually the best way to maximize them. 

But before we discuss which transfer partners present the best value-multipliers, let’s look at a complete list of our options: 

1:1 Transfer Partners

• Aeromexico Club Premier
• Air Canada – Aeroplan
• Cathay Pacific – Asia Miles
• Avianca LifeMiles
• British Airways Executive Club
• Choice Privileges
• Emirates Skywards
• Etihad Guest
• Finnair Plus
• Flying Blue
• Qantas Frequent Flyer
• Singapore Airlines KrisFlyer
• TAP Miles&Go
• Turkish Airlines Miles&Smiles
• Wyndham Rewards

Other transfer partners

• EVA Air (Infinity MileageLands): 1,000 Capital One miles:750 miles
• ALL (Accor Live Limitless): 1,000 Capital One miles:500 points

Now, which program should you move your Capital One miles to for maximum value? 

By our measure, you’ll probably get the most bang-for-buck with Air Canada, where Aeroplan points can be worth up to 2 cents each if you find the right deal. Have a look at the airline’s redemption charts and you’ll notice that one-way flights on partner airlines – including United – start at just 6,000 Aeroplan points. 

Turkish Airlines is another great option, with flights from North American to Turkey starting at just 40,000 points one-way . That means your 75,000-mile welcome bonus could cover the bulk of a round-trip to Istanbul (and the best-tasting baklava in the world). 

On the hotel side, you don’t have many options to begin with so it becomes an easy choice. Accor Live Limitless (ALL) only accepts Cap One Miles at a weak 2:1 ratio and Choice Privileges points are generally worth under a penny each, so neither option is really worth considering. 

That leaves Wyndham Rewards, where thankfully, your points are worth around 1.1 cents each. That means you could theoretically transfer 75,000 Cap One miles and get ~$825 in value booking with brands like Ramada, LaQuinta, Dolce and The Registry Collection. 

Needless to say, if you’re willing to put in a little effort and research, it’s easy to get over one cent per mile out of your Cap One stash through a well-planned transfer. 

Capital One Venture Rewards Credit Card

Intro bonus.

Reward Rates

• 5x Earn 5x miles on hotels and rental cars booked through Capital One Travel
• 2x Earn 2x miles on every purchase
• Flexible travel rewards
• No foreign transaction fee
• Maximizing Capital One Miles requires a learning curve
• Cash redemption value is limited
• The Venture offers travel accident insurance, rental car coverage, extended warranty protection, exclusive access to events through Capital One Dining and Capital One Entertainment

2. Cover Recent Travel Purchases – Up to 1.05 CPP (sort of)

If you’re unable to find a transfer that helps with your upcoming travel plans, your next instinct might be to redeem your miles through Capital One Travel. After all, you’ll get a full penny-per-mile that way–meaning your 75,000 bonus could cover an entire $750 flight to baklava-town. 

But before you start salivating at the thought of a honey-drizzled Mediterranean treat, allow me to point out a massively underrated redemption option: covering your travel purchases.  

See, Capital One allows you to redeem your miles for eligible travel expenses on your Venture card going back 90 days. The redemption rate is one mile per cent, so if you booked a rental car 87 days ago for $150, you could use 15,000 miles to cover the charge from your account. 

According to Capital One, eligible travel expenses generally include: 

• Car rental agencies
• Limousine services
• Cruise lines
• Travel agents
• Timeshare annual fees and rentals 

Now, here’s why redeeming your miles with the travel eraser is actually a better option than redeeming them through Capital One Travel. 

Let’s say you have a $750 flight coming up: 

• If you book the flight through Capital One Travel using 75,000 miles, you won’t pay anything out of pocket–but you also won’t get any rewards from the booking, either. 
• By contrast, if you book your $750 flight on Capital One Travel using your Venture card (VentureOne, Venture or Venture X), you’ll earn 5X or 3,750 miles on the booking worth $37.50 towards future travel. Then, when your $750 charge hits your statement, you can simply cover it with your 75,000 miles.

So even though redeeming for travel technically only has a redemption rate of one cent per mile, it enables you to earn an extra 5X by booking upfront using your Venture card and simply erasing the charge later. In that way, it (sort of) generates 1.05 cents per mile in value. 

Capital One Venture X Rewards Credit Card

Intro bonus.

Rewards Rates

• 10X 10x miles on hotels and rental cars booked through Capital One Travel
• 5X 5x miles on flights booked through Capital One Travel
• 2X 2x miles on everyday purchases
• Annual $300 travel credit and 10,000 Miles upon card anniversary make up for the annual fee
• Airport lounge access
• Capital One Miles require effort to maximize
• Limited cash redemption options

Other benefits

• Travel protections including car rental insurance, trip cancellation/interruption and travel delay protection
• Consumer protections including extended warranty and return protection

3. Capital One Travel – 1 CPP

Even though you’ll earn more miles by booking with your Venture card and covering the expense later, there may still be reasons you’d prefer to book with miles instead. 

Maybe you’re trying to keep your credit utilization low for the benefit of your credit score. Maybe you’re worried the travel expense won’t be eligible for covering later (even though on paper, most flights, hotels and rental cars should be).

Or maybe you just like that feeling of booking a trip for “free.” 

Whatever the case, redeeming your miles through Capital One Travel is definitely still a viable option. To the uninitiated, Capital One Travel is a portal site where you can book flights, hotels and rental cars using cash, miles or a combo of both. It works a lot like KAYAK.com, and it’s just as intuitive: 

Miles are always worth a penny each on Capital One Travel, which keeps things extremely simple. And sometimes, if you’re just looking to get away without having to worry about transfer rates or “eligible” travel expenses, the simplest redemption option may be the best overall. 

The takeaway

Capital One Miles may not be the most versatile points on the market, but that might actually serve to their benefit. With so few redemption options worth at least a penny each, you’re less likely to be paralyzed by choice.  Plus, it’s nice that all three options listed above encourage you to keep traveling. You have to get out of the house in order to maximize your miles, so that trip to Iowa, Italy or Istanbul isn’t just aspirational anymore–it’s logical.

About the author

Chris is a two-time author, keynote speaker and credit card nerd helping Gens Y and Z build better lives through financial fluency and positive psychology. His writing has been featured in Fortune, Fortune Recommends, Forbes Advisor, U.S. News, ConsumerAffairs, Money Under 30 and Investor Junkie. Chris got his start in 2015 when he decided to quit his corporate job, travel to 41 countries and ask 1,000 people what happiness means to them. In 2019 he did a TEDx talk revealing his findings, and still speaks to college students today through a partnership with CAMPUSPEAK. Chris lives in Atlanta with his partner Holly and his rescue pup, Joy.

Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.

EDITORIAL DISCLOSURE : The advice, opinions, or rankings contained in this article are solely those of the Fortune Recommends ™ editorial team. This content has not been reviewed or endorsed by any of our affiliate partners or other third parties.

Best Capital One credit cards of June 2024

If you’re interested in transferable credit card miles and solid cash-back rewards, we recommend these top picks for the best Capital One credit cards. Capital One offers cardholders many benefits, including several ways to earn cash back and miles across its credit card portfolio. You can even transfer miles from select cards to 15-plus transfer partners — most of which offer a 1:1 transfer ratio.

Because Capital One offers so many flexible options for cardholders — ranging from cards with no annual fee to premium cards for jet-setters and ones that offer generous cash-back rewards in varying categories — you’re bound to find a solid option that suits your spending habits.

Check out our curated selection and comprehensive guide on some of the partners offers below.

• Capital One Venture Rewards Credit Card : Best for Travel Rewards
• Capital One Venture X Rewards Credit Card : Best for Best premium travel credit card
• Capital One VentureOne Rewards Credit Card : Best for travel rewards with no annual fee
• Capital One Quicksilver Cash Rewards Credit Card : Best for flat-rate cash back
• Capital One SavorOne Cash Rewards Credit Card : Best for entertainment
• Capital One Venture X Business : Best for businesses with high spending
• Capital One Spark Cash Plus : Best for unlimited business cash back
• Capital One Spark Miles for Business : Best for business travel

Browse by card categories

Comparing the best credit cards, more details on the best credit cards, maximizing capital one credit cards, how we rate cards, what is capital one, how to choose the best capital one credit card, ask our experts, pros + cons of capital one credit cards, frequently asked questions, capital one venture rewards credit card.

When it comes to simplicity and strong rewards, the Capital One Venture Rewards Credit Card is a solid choice for most travelers. You’ll earn 2 miles per dollar on every purchase with no bonus categories to memorize, making it an ideal card for those with busy lives. Read our full review of the Capital One Venture Rewards Credit Card .

• This flexible rewards card delivers a solid sign-up bonus of 75,000 miles, worth $1,388 based on TPG valuations and not provided by the issuer.
• You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories.
• Rewards earned are versatile as they can be redeemed for any hotel or airline purchase for a statement credit or transferred to 15+ travel partners.
• Transfer ratios to a couple of partners are mediocre at less than 1:1 ratio.
• Capital One airline partners do not include any large U.S. airlines.
• Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
• Earn unlimited 2X miles on every purchase, every day
• Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
• Miles won't expire for the life of the account and there's no limit to how many you can earn
• Receive up to a $100 credit for Global Entry or TSA PreCheck®
• Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
• Enrich every hotel stay from the Lifestyle Collection with a suite of cardholder benefits, like a $50 experience credit, room upgrades, and more
• Transfer your miles to your choice of 15+ travel loyalty programs

Capital One Venture X Rewards Credit Card

If you can maximize the $300 credit for bookings through Capital One Travel, the Venture X’s annual fee effectively comes down to $95, the same annual fee pegged to the  Capital One Venture Rewards Credit Card  (see  rates and fees ). Add in a 10,000-mile bonus every account anniversary (worth $185, according to  TPG valuations ) and lounge access, and the card may become the strongest option out there for a lot of travelers. Read our full review of the Capital One Venture X Rewards Credit Card .

• 75,000 miles when you spend $4,000 on purchases in the first three months from account opening
• 10,000 bonus miles every account anniversary
• $395 annual fee
• A $300 credit annually only applicable for bookings made through Capital One Travel portal
• Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
• Receive a $300 annual credit for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
• Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
• Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
• Earn unlimited 2X miles on all other purchases
• Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
• Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
• Elevate every hotel stay from the Premier or Lifestyle Collections with a suite of cardholder benefits, like an experience credit, room upgrades, and more

Capital One VentureOne Rewards Credit Card

If you feel like paying an annual fee negates your will to learn about travel rewards, the Capital One VentureOne is the perfect place to begin. With no annual fee and a simple 1.25 miles per dollar rate on all purchases, you’ll earn miles that can be used for travel purchases or transferred to Capital One’s 15+ airline and hotel partners. Read our full review of the  Capital One VentureOne Rewards Credit Card .

• No annual fee means that beginners can ease into the world of travel rewards with little stress.
• Easy-to-remember 1.25 miles per dollar earning rate on all purchases.
• The sign-up bonus is outdone by most competing credit cards.
• No bonus categories means that you may not necessarily maximize all your purchases to the fullest.
• $0 annual fee and no foreign transaction fees
• Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
• Earn unlimited 1.25X miles on every purchase, every day
• Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card is a decent option for those in need of a straightforward cash back card. However, there are other options that offer more flexibility to redeem your rewards. Read our full  review of the Capital One Quicksilver Cash Rewards Credit Card .

• Unlimited 1.5% cash back on all purchases
• No annual fee
• Cash back doesn't expire
• Limited card perks and benefits
• Other cards offer more potential and upside when it comes to redeeming cash back
• Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
• Earn unlimited 1.5% cash back on every purchase, every day
• Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
• Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
• No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
• 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies

Capital One SavorOne Cash Rewards Credit Card

The Capital One SavorOne is a great cash back credit card for beginners looking for a solid rewards structure and no annual fee. Dining, entertainment and groceries are high-value bonus categories, and it’s rare for a card to hit all three. Read our full review of the Capital One SavorOne Cash Rewards Credit Card .

• Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases
• This card is great for beginners.
• If you spend a lot on dining and entertainment each year, there are cards that provide better value with higher rewards potential.
• The sign-up bonus isn’t anything to write home about (though it is easy to earn)
• Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
• Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024
• Earn 8% cash back on Capital One Entertainment purchases
• No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
• No foreign transaction fee

Capital One Venture X Business

The Capital One Venture X business card has all the Capital One Venture X Reward Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit and lounge access. Read our full review of the Capital One Venture X Business card .

• The Capital One Venture X business card offers the potential to earn a welcome offer of 150,000 bonus miles
• In addition, the card comes with many premium travel perks such as an annual $300 travel credit and airport lounge access, at a reasonable annual fee of $395
• Business owners are also able to add employee cards for free
• The card requires a high spend of $30,000 in the first three months to earn the 150,000-mile welcome bonus
• Another drawback is that the annual travel credit can only be used on bookings made through Capital One Travel
• Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
• This card has no preset spending limit, so you get purchasing power that adapts to your spending needs. The annual fee on this card is $395
• Earn 150,000 bonus miles once you spend $30,000 in the first 3 months from account opening
• Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
• Earn unlimited 10X miles on hotels and rental cars and 5X miles on flights booked through Capital One Travel, where you'll get the best prices on thousands of options
• Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings through Capital One Travel
• Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
• Skip the lines with up to a $100 statement credit on TSA PreCheck® or Global Entry. Then enjoy unlimited complimentary access to Capital One Lounges and a network of 1,300+ lounges worldwide, including Priority Pass™ and Plaza Premium Group lounges
• This is a pay-in-full card, so your balance is due in full every month
• Elevate your stay at luxury hotels and resorts from the Premier Collection with a $100 experience credit and other premium benefits on every booking

Capital One Spark Cash Plus

The Capital One Spark Cash Plus is a business cash-back card that offers 2% on all purchases. If your business spends more than $7,500 annually and doesn’t want to keep up with multiple bonus categories, this is the perfect card for you. Read our full  r eview of the Capital One Spark Cash Plus .

• Unlimited 2% on all purchases
• No foreign transaction fees
• $150 annual fee
• Earn a one-time cash bonus of $1,200 once you spend $30,000 in the first 3 months
• Earn unlimited 2% cash back on every purchase, everywhere—with no limits or category restrictions
• Comes with no preset spending limit, so it can adapt to your needs based on your spending behavior, payment history and credit profile
• Get your $150 annual fee refunded every year you spend at least $150,000
• Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
• Add employee cards for free, and earn unlimited 2% cash back from their purchases
• Spark Cash Plus has no APR because your balance is due in full every month

Capital One Spark Miles for Business

The Capital One Spark Miles for Business offers a simple way to earn rewards on every business purchase, no matter the category. Those miles can then be easily redeemed for travel purchases or by transferring to partners. Read our full review of the Capital One Spark Miles for Business .

• You’ll earn 2 miles per dollar on every purchase, which means you don’t have to juggle different bonus categories.
• Employee cards are free and also earn 2x on all spending.
• It’s an affordable card that only charges $95 in annual fees, and that fee is waived the first year.
• The sign-up bonus is only worth $925 according to TPG valuations, which falls short against some of the top business travel cards.
• The card comes with minimal perks if you’re wanting additional benefits for when you travel.
• Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening
• Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won't expire for the life of the account
• Unlimited 5X miles on hotels and rental cars booked through Capital One Travel
• Transfer your miles to 15+ travel loyalty programs
• Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services
• Skip the lines with up to a $100 statement credit on TSA PreCheck® or Global Entry
• $0 intro annual fee for the first year; $95 after that
• Free employee cards which also earn unlimited 2X miles from their purchases

When it comes to simplicity and strong rewards, the Capital One Venture Rewards Credit Card is a solid choice for most travelers. You’ll earn 2 miles per dollar on every purchase with no bonus categories to memorize. 

Whether you’re a frequent traveler or someone who takes just a few trips a year, this card is ideal for anyone who wants to easily earn miles on every purchase, which can then be redeemed for travel rewards.

“The Capital One Venture is a great card that can add value to pretty much anyone's wallet. I use it to earn 2 miles per dollar on the purchases that fall outside of my other cards' bonus categories. The annual fee is low, Capital One miles are easy to redeem, and the card does come with a few nice perks — including TSA PreCheck/Global Entry application fee reimbursement.” — Madison Blancaflor , senior content operations editor

The Chase Sapphire Preferred® Card card lets you earn bonus points in multiple categories, including 2 points per dollar on travel purchases and 3 points on dining. Plus, the Chase Sapphire Preferred also has the same $95 annual fee as the Capital One Venture Rewards Credit Card (see rates and fees ).

As one of the best premium travel rewards cards on the market, the Capital One Venture X Credit Card offers valuable benefits such as lounge access, a $300 annual credit for bookings through Capital One Travel, and 2 miles per dollar spent on all purchases. 

This rewards card offers lucrative travel benefits and high earning rates of 10 Capital One miles on hotels and rental cars booked through Capital One Travel and 5 miles on flights booked through the portal. Since this card rewards travelers, frequent jet-setters will benefit the most from using this credit card.

“With an annual fee that is less than other premium cards (see rates and fees ), the Capital One Venture X card is my favorite travel credit card. The card comes with an annual $300 Capital One Travel portal credit, which I use to book flights. That effectively brings the annual fee down to $95 per year. Cardholders enjoy a Priority Pass Select membership. Authorized users — you get several at no cost — enjoy their own Priority Pass Select membership and Hertz President's Circle status. I use my Venture X card to earn 2 miles per dollar in spending categories where most cards would only accrue 1 mile (e.g., auto maintenance, pharmacies, medical bills).” — Kyle Olsen , former points and miles reporter

Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.

Though the Chase Sapphire Reserve® has a higher annual fee, this credit card offers cardholders a chance to earn bonus points on travel and dining purchases. Plus, Chase Ultimate Rewards points are worth a bit more than Capital One miles, according to TPG’s valuations . 

If paying an annual fee and keeping track of bonus category spending negate your will to learn more about travel rewards, the Capital One VentureOne is the perfect place to begin. With no annual fee (see rates and fees ) and a simple rate of 1.25 miles per dollar on all purchases, you’ll earn miles that can be used for travel purchases or transferred to Capital One’s 15-plus travel partners. 

Since this card offers an earning rate of 1.25 miles on every dollar, this is a solid credit card option for beginners who want to ease into the world of travel rewards. You can earn bonus miles with each purchase and don’t have to worry about paying a high annual fee. 

“I wanted a credit card that earns Capital One miles without an annual fee, and this is a winner. It doesn’t have the bells and whistles of some other cards, but I’m happy earning 1.25 miles per dollar on all purchases without paying a fee to keep this card year after year. I’ll never cancel this card.” — Ryan Smith , former credit cards writer

If you value cash back over reward points, the Chase Freedom Flex℠ card offers 5% cash back on select bonus categories and travel purchased through Chase Ultimate Rewards. Cardholders will also receive a nice sign-up bonus and pay no annual fee.

The Capital One Quicksilver Cash Rewards Credit Card has no annual fee (see rates and fees ) and no limit on how much cash back you can earn. This is a good card for those wanting to immediately benefit from cash-back rewards, which will never expire.

The Capital One Quicksilver Cash Rewards Credit Card is a decent option for those in need of a straightforward cash-back card for everyday purchases. With no bonus categories, it’s a great beginner-friendly credit card.

Cardholders will earn unlimited 1.5% cash back on every purchase. With no annual fee and a ​​one-time $200 cash bonus — after you spend $500 on purchases within three months from account opening — this card can be beneficial for those looking for a rewards credit card and who value earning cash back over Capital One miles.

The Citi Double Cash® Card (see rates and fees ) offers more cash-back rewards with an earning rate of 2% on every purchase (1% when you make a purchase and another 1% when you pay it off). This card also has no annual fee, which makes it a great alternative to the Capital One Quicksilver Cash Rewards Credit Card.

The Capital One SavorOne Cash Rewards Credit Card offers bonus cash-back rewards on everyday purchases, such as dining, entertainment and groceries. With no annual fee, it’s a great beginner cash-back card (see rates and fees ).

The Capital One SavorOne is a good option for beginners because it offers a solid rewards structure with no annual fee. 

If you love going out to eat or find yourself buying weekly groceries, this rewards card will allow you to earn unlimited 3% cash back on those purchases. With a $0 annual fee, this is a great everyday card for everyone to have in their wallets.

The Blue Cash Everyday® Card from American Express is a great option for people who want to earn cash-back rewards on popular categories, including U.S. supermarkets and U.S. gas stations. Plus, this cash-back card has no annual fee (see rates and fees ).

Capital One's Venture X Business credit card offers a ton of earning potential for a modest annual fee when it comes to premium cards. Airport lounge access, an annual travel credit, 10,000 bonus miles each cardmember anniversary and the ability to add authorized users at no added cost to the main cardholder are just a few reasons we love the Venture X Business.

The Venture X Business card is great for businesses that have higher operating costs. Additionally, this card is also solid for business owners and employees who travel frequently thanks to an earning structure that features 10 miles per dollar on hotels and rental cars and 5 miles per dollar on flights when any of these three are booked via Capital One Travel.

The Venture X Business card features 15-plus hotel and airline partners, meaning cardholders have several options when it comes to choosing who they want to travel with. Plus, with the Venture X Business, you can opt to redeem earned miles for statement credits, gift cards or cash back (but you will typically find that transferring miles offers the most value).

If you're in the market for a premium travel credit card but do not want a business card, consider the Capital One Venture X personal card, as it features many of the same benefits as the Venture X Business but requires a lower spend to earn the welcome bonus.

The Capital One Spark Cash Plus is a business cash-back card that offers 2% on all purchases with no foreign transaction fees (see rates and fees ). Additionally, you can add employee cards for free and earn 2% cash back from their purchases as well.

If your business spends more than $7,500 annually and you don’t want to keep up with multiple bonus categories, this is the perfect card for you.

If you are a business owner, this card will earn you unlimited 2% cash back on every purchase — with no limits or category restrictions.

With the Ink Business Unlimited® Credit Card , you can earn unlimited 1.5% cash back on every purchase made for your business. Similarly to the Spark Cash Plus card, you can earn rewards through employee cards at no additional cost. Plus, this card gives you the ability to set individual spending limits on each card.

The Capital One Spark Miles for Business offers a simple way to earn rewards on every business purchase, no matter the category. Those miles can then be easily redeemed for travel purchases or by transferring to partners.

Since you’ll earn 2 miles per dollar on every purchase, this is a great business card to earn rewards without having to juggle multiple bonus categories. Plus, employee cards are free, and they’ll also earn 2 miles on all spending.

With a high earning rate of 2 miles per dollar on every purchase, plus the ability to earn rewards on employee cards — which are free — this card makes it easy to stack up miles on every purchase made.

The Blue Business® Plus Credit Card from American Express will allow you to earn 2 points on everyday purchases, but only on up to $50,000 per calendar year, then 1 point per dollar after. Since you earn bonus points on all purchases (up to the yearly spending cap), it is a great business card option. 

Recognize your everyday spending habits

Whether you are jet-setting across the Atlantic or making a trip to your local grocery store, Capital One’s extensive credit card portfolio offers customers the chance to earn rewards that can be most beneficial for their lifestyle. For example, to offset the cost of weekly groceries for your family of four, you should consider an unlimited cash-back card . 

However, if you want to earn and redeem miles on travel, a card that offers lucrative travel benefits, such as a $300 statement credit and bonus miles on hotels and rental cars, may be more beneficial to you.

Understand your card benefits to maximize your reward-earning potential

Though some Capital One cards favor travel rewards, others prioritize spending on everyday purchases (i.e., groceries and dining). It’s important to understand the specific reward rates offered on your card to maximize your earning potential. 

For example, the Capital One Quicksilver Cash Rewards Credit Card will earn you unlimited 1.5% cash back on every purchase, while the Capital One SavorOne Cash Rewards Credit Card will earn you 1% cash back on all purchases. However, the SavorOne also earns 3% cash back on dining, entertainment and popular streaming services and at grocery stores (excluding Walmart® and Target®). Therefore, if you are regularly dining out and have monthly subscriptions to Netflix and Hulu, the SavorOne card may be more beneficial in helping you maximize your rewards.

Examine the benefits of having multiple cards

If you’re in good financial standing and are able to pay off your credit card bill each month , you can benefit from having multiple rewards cards. If you’re like most people, you probably take a vacation (or two) every year, as well as spend money on everyday expenses such as groceries and streaming services.

For example, the SavorOne Cash Rewards card offers solid cash-back rewards on select purchases, while the Capital One Venture X Rewards Credit Card gives you a high earning rate on travel booked through Capital One Travel plus an array of other perks . Therefore, with both of these cards in your wallet, you can maximize your reward-earning potential. 

Capital One is an American financial institution that offers a variety of services, including credit cards, banking, savings accounts and loans.

Types of Capital One credit cards

With Capital One’s extensive portfolio of credit cards, consumers are able to choose the card that best fits their needs. Whether you are interested in cash-back rewards with a low annual fee or a high-earning travel credit card to redeem for flights , hotels and more, Capital One’s expansive network can benefit all cardholders. 

This type of rewards card may have a high earning rate for Capital One miles that you can redeem in a variety of travel-related ways (i.e., airfare, hotels or car rentals). Through the use of travel rewards cards , you can save money when booking your next trip by redeeming miles or transferring your miles to a travel partner , mostly at a 1:1 ratio.

Not all cash-back cards are created equal, and while some will offer you a flat rate on all purchases, other cards will give you a higher earning rate when using them on specific items, such as groceries and streaming services. 

Whether this is your first credit card or you would like to build your credit score , a beginner-friendly card with a low annual fee and several reward options can help teach you financial responsibility while also helping you set and achieve realistic goals. 

Student cards can help build your credit score, which is critical when it comes time to apply for a car loan, take out a mortgage or even sign a lease for an apartment. In addition, a cash-back card can help you earn rewards on student expenses such as books, groceries and everyday purchases.

You don’t necessarily need to own a business to have this type of credit card. Whether you own your own company, work as a freelancer or have a small side hustle, this type of credit card can help you keep your personal and business spending separate. 

Business credit cards can offer lucrative cash back or miles on your day-to-day expenses. Plus, depending on the card you choose, there are opportunities to earn bonus rewards on business-related purchases, such as travel, office supplies and more.

Capital One credit card benefits

Being a Capital One cardholder comes with several benefits and perks. These range from a variety of transfer partners when booking travel and solid earning rates across the issuer's card portfolio. Here are other perks you get when you carry a Capital One card in your wallet.

Capital One miles are earned on every purchase made with the Venture X, Venture, VentureOne and Spark Miles credit cards. You can redeem your miles at a fixed value or transfer them to airline and hotel partners . This means your rewards are flexible — they can cover standard airline and hotel charges but also nontraditional travel purchases such as helicopter rides or cruises (neither of which are typically easily covered by points and miles).

TPG currently values Capital One miles at 1.85 cents apiece when you leverage the issuer’s transfer partners. This can offer some terrific value for your rewards.

Capital One offers cardholders the ability to earn statement credits and bonus miles by shopping via its online portal at thousands of retailers. If you book travel through Capital One Travel, you can earn additional bonus miles using eligible cards. Plus, cardholders won’t pay foreign transaction fees when traveling.

Capital One credit cards offer $0 fraud liability: “If your card is lost or stolen, you will not be responsible for unauthorized charges,” per the company’s website . Additionally, the financial institution offers fraud detection alerts via personalized emails or texts if the company detects an unexpected charge or mistake.

Cardholders will surely eat up this perk: With Capital One Dining , you will receive access to hard-to-get reservations at Michelin-starred restaurants, as well as tickets to special culinary events.

Additionally, cardholders will receive VIP access to sporting events, concerts and more. Plus, through Capital One Entertainment , cardholders can receive additional on-site perks.

Venture, Venture X and Venture X Business cardholders will receive up to $100 credit for Global Entry or TSA PreCheck application fees after you use your card to pay for your membership. If you’re already enrolled in one of these programs, you can even use the credit for a friend or family member.

How to redeem Capital One rewards

Redemptions on Capital One cards are pretty simple. You can redeem your Savor or Quicksilver cash back as a check, set up automatic redemptions at a specific time or at specific cash thresholds, or redeem it for statement credits or gift cards.

With the Venture X, Venture, Venture X Business or Spark Miles cards, you can use your miles to receive a statement credit for eligible travel purchases charged to your card. You can also book a flight, car rental or hotel through the Capital One Travel portal (or call if you’d rather book by phone) and use your miles to pay for it. For any of these redemption options, your miles are worth 1 cent apiece .

Additionally, you can transfer your Venture or Spark miles to airline or hotel partners in increments of 1,000 Capital One miles and then use the partner program to book a hotel stay or flight.

Here is a quick rundown of the loyalty programs you can transfer miles to with Capital One :

• Aeromexico Rewards
• Air Canada Aeroplan
• Air France-KLM Flying Blue
• ALL – Accor Live Limitless
• Avianca LifeMiles
• British Airways Executive Club
• Cathay Pacific Asia Miles
• Choice Privileges
• Emirates Skywards
• Etihad Airways Guest
• EVA Airways Infinity MileageLands
• Finnair Plus
• Qantas Frequent Flyer
• Singapore Airlines KrisFlyer
• TAP Air Portugal Miles&Go
• Turkish Airlines Miles&Smiles
• Wyndham Rewards

It’s worth noting that the time it takes for your miles to transfer varies from partner to partner.

• 1 Sign-up bonus Earning a sign-up bonus is a great way to take advantage of boosting the number of points, miles or cash back you’ve got saved up. Choose a Capital One card that features a decent bonus you can utilize for travel, as a statement credit or as a cash deposit into your bank account. Just make sure you opt for a sign-up bonus that fits your spending habits and budget.
• 2 Annual fee Depending on what you plan to use your Capital One card for, you may want to consider a no annual fee option or a premium card with a more expensive annual fee that offers premium earning rates and benefits.
• 3 Bonus categories The best Capital One credit cards offer popular bonus categories in which you can maximize your spending and reward earnings. Opt for the card that best matches the areas in which you spend the most money.

What's your favorite Capital One card — and why?

• When you responsibly use a Capital One credit card, you can improve your credit score.
• Capital One credit cards earn valuable cash back or miles that can be redeemed for a variety of rewards.
• Many Capital One cards provide travel and shopping protections to grant you peace of mind on your purchases.
• All Capital One credit cards waive foreign transaction fees, so they’re great to use outside the U.S.
• Capital One offers some cards with lucrative perks — including travel credits, lounge access and reimbursement for Global Entry or TSA PreCheck membership.
• Spending beyond your means on a Capital One credit card can negatively affect your credit score.
• If you don’t pay your Capital One balance in full each month, you’ll be hit by massive interest charges.
• Capital One’s list of transfer partners for Venture and Spark miles includes mostly non-U.S. airlines.
• You may not travel enough to be able to justify the annual fee on higher-end Capital One cards.

Capital One has focused on providing customers a good value in terms of earning and redeeming miles or cash-back rewards. Capital One cards are versatile and flexible. Therefore, whether you’re an individual or a business or looking to earn miles or cash back, Capital One has a card that can help you achieve your travel goals.

While some Capital One credit cards, like the Capital One Venture X Rewards Card, may require an “excellent” (700 or above) credit score, other cards, like the Capital One SavorOne Student Cash Rewards Credit Card, may require a “fair” (580-669) credit score. Luckily, Capital One offers an online preapproval tool — with no harm to your credit — to let you find out which cards you are approved for.

There is a limit of two Capital One credit cards per person. However, the Capital One Platinum Secured Credit Card and Capital One’s cobranded cards are not included in the limit.

First, closing a credit card may negatively affect your credit score. However, if you wish to proceed with canceling your Capital One credit card because you either are no longer using the card or the rewards are not beneficial to your lifestyle, Capital One recommends doing the following: 

• Pay off your card balance
• Redeem your credit card rewards
• Contact Capital One 
• Check your credit report
• Destroy the card

Best Banks for International Travelers for June 2024

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If you're an avid traveler at heart, then your bank account should help make your experiences abroad easier. Depending on what you need more help with — planning or on-site spending — we've found options for you.

Best Bank Accounts for International Travel Benefits

• Ally Savings Account

Bask Bank Mileage Savings Account

• Capital One 360 Checking

Schwab Bank High Yield Investor Checking® Account

• SoFi Checking and Savings

Revolut Account

We picked the top savings, checking, and all-in-one accounts for travel, to help you save or manage your money. 

Compare the Top Bank Accounts for International Travel

The top bank accounts for international travel help make planning and spending for trips easier. We looked for the accounts that can help you save for travel and top checking accounts that allow you to access your money with ease when you're on the road and overseas.

Below, you'll see our top picks for international travel. All of the financial institutions on our list are protected by FDIC or NCUA insurance. Money is safe at a federally insured financial institution. When an institution is federally insured, up to $250,000 per depositor is secure in a bank account.

Best Savings Accounts for International Travel: Ally Savings Account

The Ally High Yield Savings Account provides easy tools to set savings goals for your next trip, and you'll earn interest without having to take on any risk. 

You can also set up a checking account through Ally . When you need access to your savings, just transfer money from the savings account to the checking account through the online portal, and you'll be able to spend the money almost instantly.

Ally also offers an easy-to-use mobile app and 24/7 customer support, making it simple to access your account while you're on the road.

You won't be able to deposit cash directly into your bank account. Instead, you'll have to transfer money from another bank account. 

Ally Savings Account Review

You might find the Bask Bank Mileage Savings Account appealing if you are a frequent American Airlines flyer. This savings account lets you earn earn 2.5 American Airlines AAdvantage miles for every $1 saved annually on a Bask Bank Mileage Savings Account. You can redeem miles for booking flights or hotels, upgrading flights, renting transportation, or planning vacation activities.

Bask Bank is also offering a savings account bonus for new customers: earn up to 10,000 bonus AAdvantage® miles for new Bask Mileage Savings Account customers who open and fund their account within 15 business days from account opening and maintain a minimum daily balance of $50,000 for 90 consecutive days out of the first 120 days (open account by May 31, 2024)

AAdvantage miles earned through the Bask Bank Mileage Savings Account will not go toward boosting your AAdvantage status.

Bask Bank also doesn't have a checking account, ATM cards, or debit cards, so you'll have limited access to your account. You'll need to link an external bank account and initiate a bank transfer to deposit or withdraw money.

Bask Bank Review

Best Checking Accounts for International Travel: Capital One 360 Checking

Capital One 360 Checking might be a solid choice if you're most comfortable with a well-known retail bank and want no-fee cash withdrawals at home and in select countries abroad. 

You can withdraw up to $1,000 a day at any ATM worldwide using your MasterCard and Capital One won't charge a fee, though the ATM operator may. The bank ranks No. 1 on J.D. Power's US National Banking Satisfaction Study , and it made Business Insider's list of the best checking accounts.

Capital One also offers a solid high-yield savings account, which is a good choice if you want to keep your savings at the same bank as your checking. 

If you travel to Europe, Asia, or any other place where Capital One and AllPoint don't have ATMs, you may have to pay third-party ATM operator fees to take cash out (Capital One will never charge you an additional fee). 

As for branch access, the bank only operates about 280 branches in seven US states, though Capital One Cafés are in some big cities around the US.

Capital One 360 Review

Charles Schwab is an investment platform, but it also has banking products. The Schwab Bank High Yield Investor Checking® Account is a great choice if you'd like a fee-free international spending bank account. It notably offers unlimited refunds for ATM fees worldwide, and it doesn't charge foreign transaction fees. 

You must open a brokerage account with Charles Schwab before opening a checking account, though.

Charles Schwab Bank Review

Best All-in-One Accounts for International Travel: SoFi Checking and Savings

SoFi Checking and Savings offers the best of both worlds. It's a hybrid savings/checking account with a competitive interest rate and a MasterCard debit card for easy access to your cash. 

SoFi is part of the Allpoint ATM network, so you have free access to 50,000 ATMs worldwide, and SoFi doesn't charge a foreign transaction fee when you make a purchase with your debit card abroad.

Again, SoFi is completely online — you'll need to call customer service when you want help with your account rather than walking into a physical location.

While SoFi doesn't charge any foreign transaction fees when you withdraw cash at an international bank or ATM, MasterCard will charge 0.20%, and SoFi won't reimburse you.

SoFi Checking and Savings Review

You might like the Revolut Account if you're looking for an alternative to traditional banking.

Revolut is a British fintech company with an international finance and investing app. You can open accounts from anywhere in the US. 

The Revolut Account is a prepaid debit card linked to a bank account. You can easily spend money internationally in over 150 types of currency. The account also allows you to make one fee-free international or domestic wire transfer per month with the Standard plan, three with the Premium plan, and five with the Metal plan.

The account also has budgeting features that let you round up prepaid debit card purchases or set up individual savings goals through Vaults. The Revolut Account and Savings Vault are  FDIC-insured by Metropolitan Commercial Bank and Sutton Bank. 

Revolut has three plans: Standard (Free), Premium ($9.99 per month), or Metal ($16.99 per month). Access to certain app features will depend on your monthly plan.

Revolut Review

Introduction to Banking for International Travel

When you're traveling abroad, bear in mind many financial institutions have fees for using a debit card internationally.

For example, if you use an ATM provider to withdraw money that isn't in your network, you may have to pay out-of-network ATM fees from the provider and your financial institution. 

Many banks also have foreign transaction fees. A foreign transaction fee is a debit or credit card charge that can happen when you buy something internationally and it needs to be processed through a foreign financial institution. 

There are many financial institutions that can help you avoid common international bank fees, though. 

Key Features of Ideal Banks for International Travel

The right bank can make saving for travel goals easier. It can also help you avoid common bank fees, like out-of-network ATM and foreign transaction fees. Below, we've highlighted key features among the top banks for multi-country travel.

Competitive Savings Rates

One key feature to look for in a bank is a competitive savings rate. High-yield savings accounts, in particular, can be strong banking options because they offer better rates than traditional savings accounts. These bank accounts might also be a good choice if you want to set savings goals for specific travel trips. Money in a high-yield savings account can deposited at any time, so you can contribute to a travel goal in stages. If you open a high-yield savings account at an online bank, you also usually won't have to worry about dealing with monthly service fees.

Exchange Rates

If you want to have cash on hand during a trip, it may be beneficial to bank with a financial institution or platform that offers straightforward foreign exchange services. Banking institutions usually offer better exchange rates than airport exchange services or on-site travel spots.

Low Foreign Transaction Fees

If you plan on using a debit card or credit card frequently, make sure to look for a bank that has low foreign transaction fees. That way, you won't have to worry about fees piling up when you use your card to buy things abroad. 

Some financial institutions on our list, like SoFi, do not charge foreign transaction fees.

Wide Global ATM Network Accessibility

If you want to use an ATM abroad, the best option is to find a national bank with a global ATM network or one that provides reimbursements for out-of-network ATM fees. Charles Schwab, for example, offers unlimited worldwide ATM fee reimbursements.

Additional Services and Tips for International Banking

If you're planning on traveling abroad soon, it's best to be prepared beforehand so you can avoid unnecessary stress. Sometimes, credit or debit cards may not work if you don't give your bank notice that you're traveling. This is done as a measure to protect you against fraudulent activity. To avoid having your card declined internationally, make sure to call your financial institution before traveling so you can make sure it works during the time you're abroad.

It's also helpful to have cash on hand when traveling in case you need it for an emergency situation. Experts recommend getting foreign currency before you begin travel because airports and on-site currency exchange locations tend to involve more costly service fees and unsatisfactory exchange rates.

Bank Trustworthiness and BBB Ratings

We review the ethics of each company so you can see if a specific financial institution aligns with your values. 

We also include the settlement history of the last 3 years so you're aware of any recent public controversies involving the bank.

The Better Business Bureau assesses companies based on responses to customer complaints, honesty in advertising, and transparency about business practices. Here are the BBB grades for our favorite travel accounts:

Revolut has an NR ("No Rating) grade from the BBB because the company is in the process of responding to previously closed complaints.

Bask Bank received a B grade from the BBB because of its volume of customer complaints. However, its parent company, Texas Capital Bank, has an A+ rating  from the BBB. 

A great BBB score doesn't guarantee your relationship with a company will be perfect. You'll also want to speak with current customers or read online customer reviews.

Capital One is the only bank on our list that has been involved in a recent public controversy. Capital One used to have an account called 360 Savings. In 2019, the bank launched the new 360 Performance Savings Account, which paid a much a higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to manually open a new 360 Performance Savings Account to earn the higher rate. So some customers have been earning a significantly lower savings rate for years.

In the lawsuit, the plaintiffs' lawyers allege that Capital One didn't inform 360 Savings customers that these were two distinct accounts, or that 360 Performance Savings paid a higher rate. However,  Capital One wants this case dismissed  because it claims people had every opportunity to learn these facts on their own. This case is still ongoing.

Travel banking FAQs

Which banks offer the best international atm access.

Charles Schwab is our top pick for international ATM access. It offers unlimited refunds for ATM fees worldwide.

How can I minimize fees when using my bank card abroad?

To minimize fees when using a bank card abroad, you want to limit making ATM withdrawals unless you find an ATM that's in your network. Some debit cards also have foreign transaction fees, so it's best to use cash or one of the best credit cards with no foreign transaction fees .

Are there banks that automatically convert currency at favorable rates?

Yes. Many banks and credit unions pay good rates to exchange foreign currency. Most financial institutions will require you to have a bank account with them in order to exchange currency , though.

Can I get travel insurance through my bank?

Yes. Some banks offer travel insurance if you get a credit card with features like travel accident insurance and trip delay reimbursements.

Should I inform my bank before traveling internationally?

Yes. You should call your bank before traveling so you're well prepared. If you forget to contact your bank, your debit card may be denied when you make purchases to protect you from potential fraudulent activity.

Can I open a bank account internationally? 

Yes. You may open a bank account in another country. However, make sure that you report your bank account information to the IRS annually .

Why You Should Trust Us: Our Expert Panel for the Best Banks for International Travel

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best accounts for your needs.

Here's what they had to say about banking for travel. (Some text may be lightly edited for clarity.)

How can someone determine whether a bank is the right fit for them?

Tania Brown, certified financial planner and vice president of coaching strategy at  OfColor :

"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."

Sophia Acevedo, banking editor,  Business Insider : 

"I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I'm searching for an interest-earning bank account I'll pay attention to interest rates. I would make sure the account pays a higher interest rate than the  average bank account ."

What should someone look for in an online bank?

Roger Ma, certified financial planner with  lifelaidout®  and author of  "Work Your Money, Not Your Life" :

"How onerous the transfer process is, transferring money in and transferring money out. Is it same day, next day? Is it pretty easy to sync a brick-and-mortar checking account to this particular high-yield savings account?"

Mykail James, MBA, certified financial education instructor,  BoujieBudgets.com :

"When it comes to online banks, you want to be a little bit more strict about what type of interest rates they're providing. That's the biggest thing, because online banks are supposed to have the higher interest rate because they don't have the overhead of the brick-and-mortar. You want to make sure that it's well above the national average.

"What types of securities do they provide? Do they have two-factor identification? If it's an online bank, they should definitely have — at the bare minimum — two-factor authentication in how easy it is to change your passwords and things like that, because you want to be a little more hypersensitive about the cyber security for a strictly online bank."

What should someone look for in a bank account if they travel frequently?

Sophia Acevedo:

"You'll want to be mindful of bank account limits and fees. You might be charged fees if you use an ATM from another bank. Banks and credit unions also have limits on how much you can withdraw from your ATM each day. When you're looking for a bank account, see if your bank provides refunds for out-of-network ATMs and what the ATM withdrawal limits are."

Methodology: How Did We Choose the Best Bank Accounts for International Travel?

At Business Insider, we strive to help smart people make the best decisions with their money. We spent hours comparing and contrasting the features and fine print of savings accounts and checking accounts so you don't have to. You can read more about how we review and rate product on our editorial standards page .

We understand that "best" is often subjective, however, so in addition to highlighting the clear benefits of an account — a high APY, for example — we outline the limitations, too. 

Generally, bank accounts are designated either savings or checking. When you're saving up for a big trip, a high-yield savings account is appropriate because you'll be able to earn some interest on your money, but still be able to access it when you need to.

A checking account may be more appropriate to use while traveling, as you'll be provided with a debit card to use at shops, restaurants, and ATMs. You may also consider using a credit card , which could provide rewards and other travel-related benefits.

That said, the best bank accounts to use for international travel expenses should be appropriate for your everyday life too, with low fees, good earning potential, and easy access. 

See our full ratings methodology for checking, business checking, savings, and money market accounts »

If you enjoyed this story, be sure to follow Business Insider on Microsoft Start.

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The Best Prepaid and Debit Cards of 2024

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If you need to limit spending or use an alternative to bank accounts, the best prepaid cards available can help you with your goals. You can load and reload prepaid cards with funds and then use them like a debit card, avoiding checking accounts and some bank-imposed fees in the process.

At Bankrate, our staff has reviewed and rated hundreds of today's top credit cards, with independence and transparency, so you'll have an easier time making an informed decision. When reviewing the best prepaid cards of 2024, we considered accessibility, affordability and extra benefits, among other factors, to help you decide which prepaid card is best for you.

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Best prepaid and debit cards of 2024:

• Netspend® Visa® Prepaid Card
• Self Lender — Credit Builder Account

What is a prepaid card?

Tips on choosing the best prepaid card for you, expert advice on prepaid cards, how we assess the best prepaid cards.

• Frequently asked questions

Best for no activation fee

Netspend® Visa® Prepaid Card

Bankrate score

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

Regular APR

What we love : If you want the convenience of a debit card without opening a traditional bank account, the Netspend Visa Prepaid Card may be worth a look. You can have your paycheck, tax refund or government benefits deposited directly to your Netspend Visa and can use the card anywhere Visa cards are accepted. Alternatives : If you’re a fan of this card’s savings account option, Brink’s Armored™ Account offers a similar benefit and the ability to earn some ongoing cash back rewards.

• There are no application fees and no minimum balance required for this card, so you can start an account with relatively little hassle.
• When you start your card account, you’ll get access to a high-yield savings account that offers 5 percent APY on the first $1,000 you save.
• The card's monthly fee is $9.95 (it lowers to $5 if you receive at least $500 in payroll checks in any one month).
• While it may not have an application fee, this card is associated with several other fees — an ATM withdrawal fee, an inactivity fee and a cash reload fee, just to name a few.
• With Direct Deposit, you can get paid faster than a paper check.
• No late fees or interest charges because this is not a credit card.
• Use the Netspend Mobile App to manage your Card Account on the go and enroll to get text messages or email alerts (Message & data rates may apply).
• Card use is subject to activation and ID verification. Terms and Costs apply.
• Card issued by Pathward N.A., Member FDIC. Card may be used everywhere Visa debit card is accepted.
• See additional NetSpend® Prepaid Visa® details.

Best for no credit check

What we love : This prepaid card could be a good fit for someone who wants a convenient way to spend without having to worry about a credit check. The Netspend Visa Prepaid card also comes with select cash back and personalized offers that can help you save on purchases. Alternatives: Since this prepaid card does not offer overdraft protection, you might consider the Walmart MoneyCenter debit card , which has an overdraft feature (fees may apply). 

• There's no credit check required when opening the card, so your credit score won't be impacted.
• The card does offer some cash back rewards which are personalized based on your spending.
• This card doesn't report to any of the three credit bureaus, so it won't help improve your credit score.
• Like most prepaid cards, this card offers no overdraft protection.

Best for building credit

Self - Credit Builder Account with Secured Visa® Credit Card

What we love : The Self - Credit Builder Secured Visa® serves both as a traditional credit card and a savings account — payments made into this account are reported to the three major credit bureaus, helping you build savings and establish a positive credit history at the same time. The credit limit on this card is also equal to the amount you have saved in your Credit Builder Account. Learn more : Is the Self – Credit Builder Account with Secured Visa Credit Card worth it? Alternative : If you’re seeking access to a physical card immediately, the Netspend® Visa® Prepaid Card is a solid choice that offers potential rewards, albeit one that carries a series of fees.

• This card reports to all three credit bureaus, helping you to achieve any credit-building goals.
• Since no hard credit inquiry is required for application, your credit score won't be impacted.
• If you're looking for a card to use immediately, this isn’t a fit as it takes three months of on-time loan payments totaling at least $100 before you’re eligible for the secured card.
• You’ll pay an annual fee for this card, which is unusual for a secured card.
• Start with a Credit Builder Account* that reports to all 3 credit bureaus. Each on-time monthly payment builds credit history and savings. Choose the plan that works for you.
• Make at least 3 monthly payments on time, have $100 or more in savings progress in your Credit Builder Account, and be in good standing.** Then, you’ll be eligible for the Self Visa® Credit Card, without a hard credit check.
• Your savings progress from your Credit Builder Account acts as your security deposit for your secured Credit Card.
• Get the savings plan that helps build credit today.
• No credit score is needed to get started.
• Your money is secured and protected in a bank account.
• *Credit Builder Account Sample Product: $48 monthly payment, 24 month term with a $9 admin fee at a 15.72% Annual Percentage Rate. Please refer to https://www.self.inc/pricing for the most recent pricing options.
• **Secured Credit Card Disclaimers, Rates and Fees: https://www.self.inc/card-agreement
• Self Visa® Credit Card issued by Lead Bank or SouthState Bank, N.A., each Member FDIC. See self.inc for details.
• Active Credit Builder Account in good standing, 3 on time payments, $100 or more in saving progress. Requirements subject to change.

Compare Bankrate's top prepaid cards

On This Page

Prepaid debit cards are similar to debit cards, except prepaid cards aren’t connected to banking or checking accounts. Instead, funds are loaded onto the card — either online, in person at specific locations, by depositing checks or reloading with cash — then reloaded when those funds run out.

Think of them as a cross between gift cards and debit cards — they have a card number, CVV code and expiration date like debit and credit cards. They also don't usually impact your credit score, as prepaid card issuers typically don’t check your credit when you apply, and they won’t check your banking history (though this isn’t always the case).

However, you should keep in mind that most prepaid cards have fees associated with them, such as:

• Reload fees
• Monthly fees
• ATM withdrawal fees
• Inactivity fees
• Transaction fees

Pros and cons of prepaid cards

While one of the benefits of a prepaid card is its accessibility, make sure to read the fine print before you apply. Some cards have activation fees and monthly maintenance charges, which can eat into your spending.

No credit check needed: People with low or no credit can practice responsible credit habits without taking a hit to their credit scores.

Budgeting tool: Because you’re limited to spending your deposit amount, prepaid cards make it easier to stay within your budget and cut back on monthly spending.

More fees than debit cards: Debit cards typically charge overdraft, monthly and sometimes ATM fees. Unfortunately, prepaid cards charge those fees on top of transaction fees, reload fees, inactivity fees and more.

Can’t build credit: Prepaid card issuers don’t report to credit bureaus, meaning users won’t improve their credit scores over time with this card type. Secured credit cards are a better option for people with no credit or low credit to increase their scores.

Prepaid cards are an excellent option for anyone with difficulty accessing traditional banking services, but features vary among cards. Here are some things you should keep in mind while shopping for a prepaid card.

• Take a look at the fees. One of the reasons many people have a difficult time accessing traditional banking services is because of the costs. If your prepaid card charges a litany of fees, such as ATM fees, monthly service fees or reload fees, you should consider if the card is worth it.
• Know your loading options . How difficult or easy will it be to reload your prepaid card? Are fees attached? Some prepaid cards will allow you to reload your card with ACH transfers, but you’ll often reload manually at an ATM. It’s important that you have access to several ATMs in your area.
• Make sure the card offers mobile access. Mobile banking is becoming increasingly popular, and for good reason. It’s convenient, safe and can give you peace of mind. The best prepaid cards will offer you the option to use the cards online and have access to a mobile app.
• Consider if you’re banked or underbanked .   While prepaid cards function similarly, there are significant  differences between prepaid cards and debit cards , specifically where funds are stored, which can be a significant factor for those who are unbanked or underbanked. Prepaid cards provide several benefits to people who don’t have access to traditional bank accounts (unbanked people) or whose access to banking services is inconvenient or too expensive ( underbanked people). If you’ve struggled to gain access to traditional banking services because of upfront costs (such as deposit minimums or initiation fees), a prepaid card might be the answer.

You can use Bankrate's Compare Credit Cards tool to help shop for the best prepaid card with as few fees as possible.

Rates of unbanked people are particularly high for those in low-income households. While the U.S. average for being unbanked is around 4.5 percent , those who have an income of under $25,000 and are underbanked are 17 percent . The main reasons cited are lack of proper funds and lack of trust . Prepaid cards can be a great alternative for people facing these hurdles.

To make the most of your prepaid card and ensure a seamless financial experience, follow these expert tips.

How to choose a prepaid card

Decide on a payment network.

Payment networks like PayPal, Visa, Mastercard and Netspend all have prepaid debit cards available. Some networks are accepted at more merchants than others so make sure to pick one that’s accepted at stores you regularly shop at.

Check fees and limitations

Prepaid cards come with a multitude of fees. If you don’t factor these into your spending, you might have less than you originally thought.

Review spending habits

Prepaid cards only have what you load onto them, so make sure to load a proper amount to avoid the reload fee that could possibly be attached to the card.

Pick up & load the card

You can receive your prepaid card from many places, both in-person and online, and may even be able to get it the same day. Once you activate and load your card, you should be able to start using it immediately.

How to maximize a prepaid card

When it comes to managing your spending and avoiding debt, a prepaid card can be valuable. With the right features and responsible usage, you can maximize the benefits of a prepaid card while staying in control of your finances.

Prepaid debit cards let you use plastic when shopping online or in stores without a traditional checking account . It’s great for scenarios like a parent or guardian giving a teenager a card to make purchases with a monthly budget or if you need to cut back on spending and want to set hard limits. Understand what you’re using a prepaid card for and how it can ultimately help you reach your financial goals.

Research and compare cards

Each prepaid card may come with its own set of features, fees and limitations. You can find a card that aligns with your specific needs by conducting thorough research. Look for cards with low or no activation fees, reasonable transaction fees and useful benefits tailored to your requirements.

Set a budget

One of the key advantages of using a prepaid card is that it allows you to set a budget and stick to it. By loading only the amount you plan to spend onto the card, you can avoid overspending and accumulating debt, so it's essential to do so with a strategic approach. 

Strategize your reloads

Consider your spending patterns and avoid reloading large sums unnecessarily, as it might tie up your funds or expose you to additional fees. Plan your reloads effectively. Strike a balance between having enough funds and not maintaining an excessive balance on the card.

Be aware of drawbacks

Prepaid cards may not offer the same consumer protections as credit or debit cards in case of fraud or unauthorized transactions. It's crucial to review the terms and conditions the card issuer provides regarding liability protection and dispute resolution processes. As a precaution, make sure to set some money aside for an emergency or rainy day fund .

Have more questions for our credit cards editors? Feel free to send us an  email , find us on  Facebook , or Tweet us  @Bankrate .

When evaluating the best prepaid cards, we take into account several factors, including how cards score in our proprietary card rating system and whether they offer features that fit the priorities of a diverse group of cardholders, from low fees to wide acceptance to earning rewards. 

We analyzed the most popular prepaid card options and scored each card based on its fee structure, rewards rate and earnings, perks and more to determine whether it belonged in this month’s roundup. 

Here are some of the key factors that we considered: 

Reasonable fees

To start, all cards on this list charge either a variable monthly fee, fixed monthly fee or a one-time account fee. As many prepaid cards have monthly fees, we identified those with limited additional costs and hidden fees.

More important to these cards’ scores and their inclusion in our list is how their fees influence their overall value. We consider card fees in two ways — how it ranks relative to the fees you’ll find on other cards in the category and how it impacts a card’s overall value. 

Cards with high fees will always be at a slight disadvantage in our scoring system since fees inherently cut into any rewards value the card may offer. However, if a card offers terrific value in other ways, such as perks or convenience it can earn a spot in our list even if it carries high fees.

Flexibility and perks

Along with cost and rewards value, we consider other factors that could give cards great long-term usefulness. 

We considered how widely a card is accepted, and we sought options that are likely to be accepted anywhere you spend. Our team considered the size of each card’s network, the trustworthiness of each financial institution and the accessibility of reload options.

Due to the nature of prepaid and debit cards, additional perks such credit-building tools can be difficult to come by. If a card offers a path to improving your credit score, we’ve factored that into our scoring.

For rewards-earning cards, we consider any restrictions they impose on earning and redeeming rewards when deciding on a card’s inclusion in our list. 

These restrictions could include only allowing users to earn a high rewards rate on a small amount of spending or requiring users to meet a certain earning threshold before they can redeem rewards. We also examine whether points are worth less when you opt for some redemption options over others and whether a card gives you the flexibility to transfer rewards to airline and hotel partners. 

We also evaluate each card’s perks based on their value and uniqueness. For prepaid cards, flexibility and convenience can play a significant role in a card’s overall usefulness. 

Rewards value

Since many cardholders looking for a prepaid card are eager to earn rewards, a key criteria for a card’s inclusion in our list is its rewards value. Rewards value factors in a card’s average rewards rate, estimated annual rewards earnings, sign-up bonus value and reward redemption value.

To estimate a card’s average annual rewards earnings, we calculate its average rewards rate based on how much it earns in different bonus categories, as well as how closely those categories match the average person’s spending habits. In other words: Does the card earn rewards at a high rate in the most popular spending categories?

We use consumer spending data from the Bureau of Labor Statistics (BLS) to get a reliable third-party measure of people’s spending habits. The most recent BLS data estimates average total spending in 2021 was $66,928 per consumer. We then narrow our focus to which purchases are likely to be put on a credit card and earn rewards, subtracting expenditures like housing, vehicle purchases and education. This gives us a total “chargeable” annual spend of around $22,500.  

This includes the following spending by category:

• Groceries: $5,200
• Dining out: $3,000
• Entertainment: $2,500
• Gas: $2,100
• Apparel and services: $1,700

Using this data, we assign a weighting to each of a card’s bonus categories. For example, a card’s grocery rewards rate receives a 23 percent weighting based on how much of the average person’s budget is spent on groceries. We also estimate the redemption value of points or miles from various issuer, airline and hotel rewards programs.

This weighting and rewards valuation allows us to estimate a card’s average annual rewards earnings — how many points or miles you’d earn with a given card if your spending was about average and you used the card for all of your purchases — as well as what those points are worth. We also use point valuations to determine a card’s sign-up bonus value

With these calculations complete, we assign each card a score based on how its average rewards earnings, sign-up bonus value, rewards rate and redemption value stack up against other cards in its primary category.

The better these values, the higher its score will be, making it more worthy of inclusion in our list and increasing its potential ranking.

Frequently asked questions about prepaid cards

How do i get a prepaid card.

You can get a prepaid card in a number of ways, including: 

• Online : You can go online and purchase a prepaid card using your credit or debit card information, which will be charged at the time of purchase.
• In-store : You can go to any store and purchase a prepaid card with cash.
• At a bank branch : You can go to a bank branch, provide your personal information and purchase a prepaid card with cash or by using your checking account number and routing number (which is typically on checks).

How do you reload a prepaid card?

You can reload a prepaid card much like you would receive money in a checking account linked to a debit card. Here are some ways you could reload a prepaid debit card, depending on the issuer:

• In person at the financial institution that issued the card
• In person at participating retail locations
• Online transfer from a checking or savings account
• Mobile deposit, if available
• Direct deposit, if available

What are alternatives to prepaid cards?

If you'd rather not use a prepaid card, there are other options that may suit your needs better:

• Fintech banking apps: These apps, like SoFi , work like any other bank app, but they don't require a traditional bank account. Some of these apps are free, but some charge monthly fees for certain features.
• Alternative spending accounts: An alternative spending account, like Chime , is typically a checking account without overdraft fees, monthly fees or service fees. They're designed for people who want a simple place to keep their money but don't want all of the features of a traditional checking account.
• Second-chance checking accounts: These second-chance accounts  allow people who have been denied access to traditional checking accounts due to low credit scores or unpaid debts access to basic banking services. 
• Secured credit cards: These allow people who have bad or no credit histories to make a deposit for access to a limited credit line. If you can afford to make a security deposit upfront, you can use a secured credit card for minor expenses and build your credit score at the same time.

Article sources

We use primary sources to support our work. Bankrate’s authors, reporters and editors are subject-matter experts who thoroughly fact-check editorial content to ensure the information you’re reading is accurate, timely and relevant.

Netspend Visa Prepaid Card fees . Netspend. Accessed on May 10, 2024.

Report on the Economic Well-Being of U.S. Households in 2022 - May 2023 . Board of Governors of the Federal Reserve System. Accessed on May 10, 2024.

2021 FDIC National Survey of Unbanked and Underbanked Households . FDIC. Accessed on May 10, 2024.

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author’s alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.

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