If you’re considering using your American Express overseas it’s important to know the Amex international transaction fee for your card.
While there are some American Express cards with no foreign transaction fees, some do have extra costs you’ll want to factor in when you plan your foreign currency spending.
Read on for all you need to know about American Express currency exchange fees, and the best ways to cut unnecessary card costs when you travel.
Does Amex have foreign transaction fees?
American Express cards can have a foreign transaction fee — it really depends on the card you choose. As an example, the Amex Blue Cash foreign transaction fee is 2.7% on every purchase.
No foreign transaction fee Amex cards do exist — but in this case you’re more likely to pay an annual fee which can be pretty steep. We’ve got a full round up of American Express zero foreign transaction fee cards — and their important fees — coming up in a moment.
When are foreign transaction fees charged?
For cards that carry a fee on foreign transactions, you can expect to be charged foreign transaction fees when you make a purchase in another currency in person or online.
The typical fee percentage for American Express cards is 2.7%. Apply that to an espresso in Rome and you’re talking about a few cents.
But apply it to a car rental or hotel stay, and suddenly foreign transaction fees are taking quite a bite out of your travel budget.
American Express cards with foreign transaction fees
The best credit cards for international travelers are ones that don’t carry international transaction fees.
American Express offers an array of cards. Some with foreign transaction fees, and some with none. This handy table offers an overview of different American Express cards and their fees.
| Amex Blue Cash Everyday¹ | 3% on groceries, 2% on gas, 1% on other purchases | 2.7%² | No annual fee |
| Amex Cash Magnet³ | 1.5% unlimited | 2.7%⁴ | No annual fee |
| Amex Everyday card⁵ | 2x on groceries, 1x on everything else | 2.7%⁶ | No annual fee |
American Express no foreign transaction fee cards
| Amex Delta Skymiles card⁷ | 2x on groceries, dining and Delta, 1x on everything else | No foreign transaction fee⁸ | No fee in year 1, 99 USD/year after that |
| Amex Gold Card⁹ | 4x on dining and groceries, 3x on flights, 1x on everything else | No foreign transaction fee¹⁰ | 250 USD/year |
| Amex Platinum¹¹ | 5x on flights and hotels, 1x on everything else — other card rewards including cash off specific purchases included | No foreign transaction fee¹² | 695 USD/year |
Other fees to keep an eye on
Credit cards can come with a range of fees including currency exchange costs, ATM fees and charges incurred because of dynamic currency conversion (DCC).
DCC is where you’re asked by an ATM or merchant if you’d rather pay in dollars or the local currency. Always choose the local currency — or you could be hit by a poor exchange rate and high fees. It also pays to watch out for extra ATM fees which can push up costs hugely.
Finally, keep an eye on exchange rates using a reputable online currency converter.
Most currency exchange services add a fee onto the exchange rate, which is tricky to see and pushes up prices.
Avoid this — and have more money to spend when you travel — with a Wise multi-currency account and debit card. Pay in local currencies when traveling, and convert your money at the real mid-market exchange rate with low, transparent fees.
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American Express credit cards can be split into those which have no annual fee, but come with a foreign transaction fee — and cards with no foreign transaction fee but annual fees you’ll need to weigh up.
Compare a few to see which might suit you best.
Credit cards aren’t always the right option when you travel. Keep Wise in mind to receive currency payouts at the real exchange rate, and spend on the Wise debit card in 200+ countries with low, transparent fees which beat the banks every time.
Sources:
- Amex Blue Cash Everyday card
- Amex Blue credit terms
- Amex Cash Magnet
- Amex Cash Magnet terms
- Amex Everyday card
- Amex Everyday card terms
- Amex Delta Skymiles card
- Amex Delta card terms
- Amex Gold Card
- Amex Gold Card terms
- Amex Platinum
- Amex Platinum terms
Sources checked on 06.03.2022
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