Quick Answer

It depends on the market and card. In the eurozone, German Amex cards like the Platinum, Gold and Green apply a foreign-currency fee of around 2% on non-euro spending, and US Amex cards vary by product. Because of that, many travelers pair an Amex for points and perks with a genuinely fee-free card for the actual foreign-currency purchases.

Read the full guide: Best Travel Credit Cards 2026: No Foreign-Fee Spending

What’s the best travel credit card for avoiding foreign transaction fees?

There’s no single winner — the best travel credit card is one with a 0% foreign transaction fee. A multi-currency card like Revolut spends in 150+ currencies at the near-interbank rate with no markup, while a rewards card like the Amex Gold earns points on the same spend. Many standard Visa/Mastercard products still charge around 2–3% abroad, so the card you already own is often the wrong one. That fee-free card matters most when you’re also chasing the cheapest airline fares in Europe , since a 2–3% markup can erase a chunk of what you saved on the ticket.

Should you always pay in local currency abroad?

Yes. When a terminal or ATM offers to charge you in your home currency — dynamic currency conversion — decline it and choose the local currency every time. DCC typically adds a markup of around 3–5% (sometimes worse) on top of any card fee, so paying in the local currency and letting your own card convert is almost always cheaper. It’s the same instinct that’s worth applying to how much travel insurance costs — a small percentage saved on every transaction adds up the same way a cheap policy protects the bigger spend. Our answers guide has more of these fast money answers.