Compare business credit cards with no foreign transaction fee

Avoid punishing fees for foreign transactions with these business credit cards.

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By

Chris Lilly

Reviewed by

Rachel Wait

Updated

Fact checked

Compare business credit cards for spending abroad

Table: sorted by representative APR, promoted deals first
1 - 7 of 7
Updated daily
Name Product UKCCF Finder Score Finder score Foreign usage charge (EU) Foreign usage charge (rest of world) Purchases Annual/monthly fees Representative APR Link Incentive Representative example
Capital on Tap Business Rewards Credit Card
Finder Award
Capital on Tap Business Rewards Credit Card
4.2
★★★★★
★★★★★
Expert analysis
0%
0%
36.19%
£99 per annum
59.15% APR (variable)
Go to site
Read review
Earn points on all card spend. Points can be redeemed for Avios or 1% cashback. 10,000 bonus points when £5,000 is spent on card in first 3 months.
Representative example: When you spend £1,200 at a purchase rate of 36.19% (variable) p.a., your representative rate is 59.15% APR (variable). Optional upgrade to Business Rewards (£99 per year).
Capital on Tap Business Credit Card
Finder Award
Capital on Tap Business Credit Card
4.2
★★★★★
★★★★★
Expert analysis
0%
0%
36.19%
£0
36.19% APR (variable)
Go to site
Read review
Earn 1 point for every £1 of card spend. Redeem 1 point for 1p (1% cashback)
Representative example: When you spend £1,200 at a purchase rate of 36.19% (variable) p.a., your representative rate is 36.19% APR (variable).
Santander Business Cashback Credit Card Mastercard
Santander Business Cashback Credit Card Mastercard
3.9
★★★★★
★★★★★
Expert analysis
0%
0%
18.9%
£30 per annum (per business, not per card)
23.7% APR (variable)
Read review
1% after £1 of monthly spend. Cashback paid Monthly into Card Account.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £30 per annum, your representative rate is 23.7% APR (variable).
Royal Bank of Scotland Business Plus Credit Card (existing customers only)
Royal Bank of Scotland Business Plus Credit Card (existing customers only)
3.9
★★★★★
★★★★★
Expert analysis
0%
0%
13.9%
£70 per annum
29% APR (variable)
Read review
0.5% after £1 of yearly spend. Maximum of £600 cashback paid per month. Cashback paid Monthly into Card Account. 3% cashback on eligible fuel and electric vehicle charging stations, 2% cashback on eligible trade and business supplies, 1% cashback on eligible travel and accommodation spend and 0.5% cashback on all other business spending. Max £600 per annum.
Representative example: When you spend £1,200 at a purchase rate of 13.9% (variable) p.a. with a fee of £70 per annum, your representative rate is 29% APR (variable).
NatWest Business Plus Credit Card (existing customers only)
NatWest Business Plus Credit Card (existing customers only)
3.9
★★★★★
★★★★★
Expert analysis
0%
0%
13.9%
£70 per annum
29% APR (variable)
Read review
0.5% after £1 of yearly spend. Maximum of £600 cashback paid per month. Cashback paid Monthly into Card Account. 3% cashback on eligible fuel and electric vehicle charging stations, 2% cashback on eligible trade and business supplies, 1% cashback on eligible travel and accommodation spend and 0.5% cashback on all other business spending. Max £600 per annum.
Representative example: When you spend £1,200 at a purchase rate of 13.9% (variable) p.a. with a fee of £70 per annum, your representative rate is 29% APR (variable).
Jeeves Business card
Jeeves Business card
3.6
★★★★★
★★★★★
Expert analysis
0%
0%
0%
£0
N/A (this product is a charge card).
Read review
Earn up to 2% cashback on all your advertising spending in the first 90 days, up to 1% cashback thereafter, and 1.5% cashback on spend with Google, Amazon, Meta. Terms apply.
Debite corporate card
Debite corporate card
3.8
★★★★★
★★★★★
Expert analysis
0%
0%
£0
N/A (this product is a charge card).
Read review
Earn 4% cashback for the first 3 months on card spending. Cashback is credited to your account after 30 days. Cashback is capped at £1,000 a month.
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Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.

About business credit cards with no foreign fees

Overseas business travel can get expensive, especially when you factor in the cost of currency conversion. Most company credit cards will charge currency conversion fees of around 3% for spending in other countries, and some may also charge a higher interest rate on these transactions.

Thankfully, there are some business credit cards which help you to minimise these costs. If you’d like the flexibility and convenience of using a company credit card on overseas business trips, it’s a good idea to use one of these specialist cards.

Credit card jargon explained

  • APR. The annual percentage rate (APR) is a benchmark of the annual cost of your card. As well as the interest, the APR also takes into account any compulsory fees or charges. However, providers only have to give the advertised APR to 51% of those who take out the credit card and the other 49% could get a higher rate. That’s why it’s often referred to as the representative APR.
  • Grace period. Most credit cards offer a grace period of up to 55 days, during which no interest is charged as long as you repay your balance in full.
  • Foreign usage charge. This is normally a percentage fee charged on any purchases you make using your card outside the UK.
  • Cash advance. Withdrawing cash or buying foreign currency on your credit card is known as a cash advance. Carrying out this transaction can incur high fees and high interest charges.
  • Variable rate. Most credit cards have variable interest rates which can increase or decrease over time at the lender’s discretion. Typically, variations occur as market conditions generally shift – for example an increase or decrease in the Bank of England base rate.

What fees can you incur when using a business credit card abroad?

  • Foreign transaction fee (charged by your own bank). This is also sometimes referred to as a “loading fee” or “non-sterling transaction fee”. You could be charged a foreign transaction fee for every purchase you make overseas. This fee is usually charged as a percentage of the transaction (typically 2-3%). However, you can avoid these fees entirely by choosing one of the specialist overseas business credit cards listed above.
  • Merchant currency conversion fee (charged by the merchant’s bank). Sometimes merchants will offer you the chance to pay in pounds instead of the local currency. In this situation, it will be the merchant’s bank (rather than your own) whose fee structure will apply. Often it will use the mid-market rate with a mark-up added on top. To avoid this, choose a decent travel credit card and then always choose to pay in the local currency. Cash machines may also offer this facility, in which case the same advice applies.
  • Credit card surcharge (charged by the merchant). Credit card surcharges have been banned across the EU for personal Mastercards and Visa cards, but business credit card transactions could still incur a surcharge at the merchant’s discretion: ask before you pay.
  • Cash advance fee (charged by your own bank). If you withdraw cash from an ATM, get cashback from a merchant or use your credit card to buy foreign currency, you’ll be charged a cash advance fee. This could be higher than the fees you’d pay back in the UK. You’ll also begin paying interest on these transactions immediately and on a daily basis, so it’s best to avoid doing this if possible.
  • Cash machine fees (charged by the cash machine owner). Some ATM owners will charge you to withdraw cash, although this is becoming rarer across the globe.

It’s also worth bearing in mind that some cards may charge a different interest rate and/or have a shorter grace period for non-sterling transactions.

What other features do I need to consider?

Free currency conversion is a huge bonus if you do a lot of spending abroad, but it’s not the only consideration. Here are some other things you should think about:

  • Eligibility. Each card is likely to come with its own requirements, typically involving the number of years of trading, turnover or number of staff.
  • Perks and rewards. Some business credit cards reward you for spending, perhaps via cashback or a rewards points scheme. Many specialist overseas credit cards offer air miles as a reward for spending.
  • Interest rates. A lack of foreign transaction fees might not count for much if your credit card has an uncompetitive interest rate, so check to see how this compares to other cards. To avoid interest charges completely, pay off your balance in full every month. However, if, like a lot of business owners, you’re planning to keep one card specifically for overseas use and another for your day-to-day spending in the UK, then the interest rate may not matter to you too much.
  • Introductory offers. Occasionally, you might find a business credit card that offers 0% interest on card transactions for an initial period after your account has been opened. This deal may or may not include overseas transactions. The interest rate will shoot up after this period has ended, so you should aim to clear your balance before this point.

Dynamic currency conversion offers the option of paying for your goods in pounds sterling rather than the local currency. But if a retailer offers this service at the checkout, it’s best to decline and stick to paying in the local currency. If you don’t, you’ll be charged the retailer’s higher exchange rate and end up paying more for your purchase.”

– Rachel Wait, financial journalist

How to choose the right business credit card for foreign usage

  1. Work out what you want to get out of your credit card. Do you want the ability to earn rewards or cashback, or multiple cards for employees?
  2. Compare cards to find the one that best suits you. Look at things like APR, earn rates, and fees.
  3. Check you meet the eligibility criteria for the specific card you want.
  4. Apply for the card.

How do I avoid foreign transaction fees?

If you want to avoid foreign usage fees when using your business credit card abroad, you should keep the following tips in mind:

Do

  • Use a specialist overseas card whenever you’re abroad.
  • Pay off your balance in full to avoid interest charges.
  • Check the small print before you travel.

Don’t

  • Pay in pounds, if offered the opportunity.
  • Use your credit card to withdraw cash, unless it’s an emergency.

Bottom line

If you or your employees often travel for work, using a business credit card designed for overseas use will help you to avoid high foreign exchange charges. But as always, you should compare your options carefully and make sure you keep on top of your repayments.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Rachel Wait's headshot
To make sure you get accurate and helpful information, this guide has been reviewed by Rachel Wait, a member of Finder's Editorial Review Board.
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Written by

Head of publishing

Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio

Chris's expertise
Chris has written 613 Finder guides across topics including:
  • Loans & credit cards
  • Building credit
  • Financial health
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