What Are the Top Credit Cards for Living Abroad?

Top Credit Cards for Living Abroad: Expert Recommendations

As a credit card expert, I'm often asked about the bestcredit cards for living abroad. It's a question that comes up frequently as more and more people are choosing to live and work overseas. In this article, I'll provide an overview of the top credit cards for living abroad, including their benefits, features, and potential drawbacks.

1. Chase Sapphire Preferred

The Chase Sapphire Preferred is one of the most popular travel credit cards on the market, and for good reason. It offers a generous sign-up bonus, flexible rewards program, andno foreign transaction fees. Cardholders earn 2X points on travel and dining purchases, making it a great option for those who frequently eat out or travel. The card also offers trip cancellation/interruption insurance, primary rental car insurance, and baggage delay insurance. The annual fee is $95, but it's waived for the first year.

2. Capital One Venture Rewards

The Capital One Venture Rewards card is another great option for those living abroad. It offers 2X miles per dollar on all purchases, which can be redeemed for travel expenses or transferred to partner airlines and hotels. The card also has no foreign transaction fees and offers travel accident insurance and 24-hour travel assistance services. The annual fee is $95, but it's waived for the first year.

3. American Express Platinum

The American Express Platinum card is a premium credit card with a high annual fee of $550. However, it offers a long list of benefits and perks that can be particularly helpful for those living abroad. Cardholders earn 5X points on flights booked directly with airlines or through American Express Travel, as well as 5X points on prepaid hotels booked through amextravel.com. Other benefits include airport lounge access, up to $200 in airline fee credits, up to $200 in Uber credits, and no foreign transaction fees. The card also offers travel accident insurance, baggage insurance, and travel medical insurance.

4. Citi Double Cash

The Citi Double Cash card is a great option for those who want a simple rewards program without an annual fee. Cardholders earn 1%cash backon all purchases, and an additional 1% cash back when they pay their bill on time. While it doesn't offer any travel-specific benefits, it does have no foreign transaction fees and can be a good option for those who don't want to pay an annual fee.

Tips for Applying for a Credit Card Abroad

When applying for a credit card while living abroad, there are a few things to keep in mind to ensure a successful application:

1. Have a U.S. Address: While some credit cards may allow you to use a foreign address, it's generally easier to have a U.S. address when applying.

2. Build Your Credit History: If you don't have a credit history in the U.S., it can be harder to be approved for a credit card. Consider getting a secured credit card or becoming an authorized user on someone else's card to build your credit.

3. Be Prepared to Provide Documentation: Credit card companies may require additional documentation if you're applying from abroad, such as a copy of your passport or visa.

Saving Money with Credit Cards

Credit cards can also be a great way to save money while living abroad. Many cards offer cash back or rewards for purchases, which can add up over time. Additionally, cards with no foreign transaction fees can save you money on international purchases. Just be sure to pay off your balance in full each month to avoid interest charges and other fees.

Avoiding Credit Card Fees and Risks

When using a credit card abroad, it's important to be aware of potential fees and risks. Foreign transaction fees can add up quickly, so choose a card with no foreign transaction fees if possible. Additionally, be sure to notify your credit card company of your travel plans to avoid any potential fraud alerts or account freezes. Finally, be cautious when using your card in unfamiliar locations or online, as fraud and identity theft are always a risk.

Conclusion

Overall, there are many credit cards that can be great options for those living abroad. Consider your personal spending habits, travel needs, and budget when choosing a card. With the right card, you can earn rewards, save money, and enjoy peace of mind while living and traveling abroad.