No International Transaction Fee Credit Cards That Still Earn Points

If you've ever opened a credit card statement after a holiday and spotted lines of fees on each transaction, you've met the international transaction fee. Most Australian credit cards, and many debit cards for that matter, add at least 3% to any purchase made in a foreign currency, or processed by a merchant outside Australia. A no international transaction fee credit card avoids these fees, and a handful still allow you to earn points.

This guide explores some of the best Australian credit cards with no foreign transaction fees that also earn points, and flags the traps that catch travellers out. The catch with most of these cards is a monthly or annual fee, so the maths only works if your spending justifies it.

What Is An International Transaction Fee?

An international transaction fee is more or less a surcharge your card issuer adds when you pay in a foreign currency, or when the merchant is based overseas. That second part trips up a lot of people, because the fee isn't limited to travelling. You could be shopping online with an overseas retailer for example.

A card with no international transaction fee removes that surcharge. It doesn't guarantee a good exchange rate, which is a separate cost.

Credit Cards With No International Transaction Fees

NAB Rewards Travel Card

NAB's Rewards Travel Card charges $0 in international transaction fees and earns 1.5 NAB Rewards Points per $1 on everyday spend up to $10,000 per statement period, then 0.5 per $1 beyond that. NAB Rewards Points transfer to partners including Velocity, KrisFlyer, and Cathay Pacific.

The annual fee is $395, in return you get access to a number of travel-related perks. There are two complimentary airport lounge passes per year, delayed flight lounge access when you're held up for 60 minutes or more at selected locations, complimentary travel insurance, and a global eSIM with 7GB of data.

Revolut Card

Revolut is a little different to the rest of this list. It's a digital bank that offers users the choice between a credit card or debit card for their spending.

The free Standard plan has no monthly fee, and Revolut doesn't charge foreign exchange fees on card purchases up to $2,000 a month on weekdays, then 0.5% above that. For unlimited currency exchange, you'll need the Metal plan, which costs $279 a year ($28.99 if you pay monthly) and also has no weekend markup.

The catch with Revolut is the limits. Standard adds a 1% markup to exchanges made on weekends, and overseas ATM withdrawals are free only up to $350 or five withdrawals a month, then cost 2%. Paid plans lift those limits: Plus ($5.99 a month) raises the fee-free exchange limit to $6,000, Premium ($11.99 a month) to $20,000, and Metal and Ultra are unlimited.

CommBank Ultimate

For years, one of the best perks of the CommBank Ultimate card (formerly the Ultimate Awards) has been 0% international transaction fees. The downside is that CommBank Yello are some of the least rewarding points you can earn in Australia. The earn rate on the Ultimate card is tied to your broader relationship with CommBank, starting at a dismal 0.5 Yello Points per dollar, and climbing to 1.5 points. But to unlock the higher earn rate you'd need qualifications like a $250,000 savings balance or home loans of $1M+.

Yello Points can be converted to Qantas Points ($149 annual fee), Velocity Points ($99 annual fee), Qatar Airways Avios (free) and more.

There is a $35 monthly fee for the CommBank Ultimate, which is currently waived if you spend at least $4,000 in a statement period. However, CommBank will remove this waiver from 1 January 2027.

Luxury Escapes Société Credit Card

Luxury Escapes is the one you might not expect on this list. Recently launched and issued by non-bank lender MoneyMe, the Luxury Escapes Credit Card earns Société Points, which you spend on Luxury Escapes hotels, tours and cruises.

You earn 2 Société Points per $1 on eligible purchases up to $15,000 a month, then 1 per $1 beyond that. Based on our testing, a Points + Pay redemption is worth around 0.48 cents per Société Point, so the effective return on everyday spending lands at about 1 per cent.

Overseas, the card passes through the Mastercard exchange rate with no markup. The $149 annual fee is easily offset with a $150 Luxury Escapes credit, however this is only unlocked after you spend $5,000 in the first 90 days.

Similar to NAB, there's also a Mastercard Flight Delay Pass, which gets you and a companion into a lounge if your flight is delayed by more than 120 minutes. It also comes with travel insurance, covering cancellation, delays and missed connections up to $3,000 combined.

Bankwest Qantas World & Platinum Mastercard

The Bankwest Qantas Mastercards are the simplest way to earn Qantas Points with no international transaction fee, and both versions include complimentary international travel insurance. The difference comes down to how much you spend each month.

The World card charges $320 annual fee and earns 1 Qantas Point per $1 on the first $5,000 you spend each month, then half that rate. The Platinum costs $199 a year and earns 0.6 Qantas Points per $1 on the first $2,500 each month, then 0.3.

The extra $121 a year for the World card only pays off if you spend enough for the higher earn rate to cover it.

Things To Know Before Spending Overseas

• Always pay in the local currency: when a terminal offers to charge you in Australian Dollars, they aren't doing you a favour! This is a dynamic currency conversion, and uses an inflated exchange rate, so you want to pay in the local currency.
• Be careful with cash: cash advance fees will still apply when you withdraw from an overseas ATM. For withdrawals, consider a good travel debit card.
• Remember the exchange rate: 0% international transaction fees doesn't guarantee a good rate. Be sure to check what rate each card uses, and if there's any markup applied. The ideal situation is a card that uses the Visa/Mastercard rate with zero markup.

Debit Cards With No International Transaction Fees

Not after points or prefer not to use a credit card? A debit card with no international fees might be what you're after for travel. We compare the options in our guide to the best travel money cards.

Several Australian transaction accounts charge no monthly fee, no international transaction fee and no overseas ATM fee, and usually pass through the Visa or Mastercard exchange rate. The trade-off is giving up the points a rewards credit card would earn.