Traveling abroad is exciting. New cultures, new foods, new experiences. But one thing that can dampen the fun? Unexpected credit card fees. If you’re an American Express Platinum cardholder, you might be wondering about the Amex Platinum foreign transaction fee.
What Are Foreign Transaction Fees?
Before we get into the specifics of the Amex Platinum card, let’s talk about foreign transaction fees. These are charges that some credit card companies add when you make a purchase in a foreign currency or through a foreign bank.
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They usually range from 1% to 3% of the transaction amount. For example, if you spend $100 in Paris on a card with a 3% fee, you’d pay an extra $3 on top of your purchase.
These fees can add up fast, especially if you’re traveling for a while or making big purchases.
Does the Amex Platinum Card Have a Foreign Transaction Fee?
Here’s the good news: the Amex Platinum card does not charge a foreign transaction fee.
That’s right. Zero. Nada. Whether you’re buying a croissant in France or booking a hotel in Japan, you won’t see those pesky 2% to 3% fees tacked onto your bill.
This makes the Amex Platinum a fantastic choice for international travelers who want to save money on fees.
But hold on. There’s more to the story.
While the Amex Platinum skips the foreign transaction fee, there are other things to watch out for when using it abroad. We’ll cover those later.
Why No Foreign Transaction Fee Matters
Why is the lack of a foreign transaction fee such a big deal?
Let’s break it down:
- Saves You Money: If you’re spending $2,000 on a trip, a 3% foreign transaction fee would cost you $60. With the Amex Platinum, that $60 stays in your pocket.
- Simplifies Budgeting: No surprise fees mean you can stick to your travel budget without worrying about extra charges sneaking in.
- Great for Frequent Travelers: If you’re always jet-setting, those fees add up. The Amex Platinum’s no-fee perk makes it a go-to card for globetrotters.
To give you a clearer picture, here’s a quick comparison of how foreign transaction fees can impact your spending:
| Purchase Amount | Card with 3% Fee | Amex Platinum (0% Fee) |
|---|---|---|
| $500 | $15 fee | $0 fee |
| $1,000 | $30 fee | $0 fee |
| $5,000 | $150 fee | $0 fee |
As you can see, the savings can be significant, especially for big-ticket items like flights or hotels.
How the Amex Platinum Stands Out for International Travel
The Amex Platinum card isn’t just about skipping foreign transaction fees. It’s packed with travel perks that make it a favorite for people who love to explore the world.
Here are some highlights:
- Airport Lounge Access: Get into over 1,400 lounges worldwide, including Centurion Lounges, Priority Pass, and Delta Sky Clubs (if you’re flying Delta). Perfect for relaxing before a long flight.
- Travel Credits: Enjoy a $200 annual travel credit for things like flights or hotels booked through Amex Travel.
- Hotel Benefits: Book through Amex Fine Hotels & Resorts and get perks like late checkout, room upgrades (when available), and a $100 experience credit.
- Travel Insurance: Get coverage for things like trip cancellation, lost baggage, or car rental damage. Always check the terms to know what’s covered.
- Membership Rewards Points: Earn points on every purchase, which you can redeem for flights, hotels, or other rewards. International spending can rack up points fast.
These perks make the Amex Platinum a powerhouse for travelers, but the no foreign transaction fee is a key reason it’s so popular for international trips.
Things to Watch Out for When Using Amex Platinum Abroad
While the Amex Platinum is great for avoiding foreign transaction fees, there are a few things to keep in mind when using it overseas:
1. Dynamic Currency Conversion (DCC) Fees
Sometimes, merchants or ATMs abroad will offer to charge you in your home currency (like US dollars) instead of the local currency.
This might sound convenient, but it often comes with a DCC fee, which can range from 2.6% to 18%. Always choose to pay in the local currency to avoid these extra costs.
2. Cash Advance Fees
If you use your Amex Platinum to withdraw cash from an ATM, you’ll face a cash advance fee.
This is either $10 or 5% of the amount withdrawn, whichever is greater, plus a high interest rate (around 29.99%) that starts right away.
Try to avoid using your card for cash withdrawals.
3. Limited Acceptance
American Express isn’t accepted everywhere, especially in smaller shops or less touristy areas. In places like Europe or Asia, Visa and Mastercard are often more widely used.
Always carry a backup card just in case.
4. High Annual Fee
The Amex Platinum comes with a $695 annual fee (as of 2025). While the travel perks and no foreign transaction fee can make it worth it, you need to use the card’s benefits to justify the cost.
Tips for Using Your Amex Platinum Card Abroad
To get the most out of your Amex Platinum card while traveling, follow these simple tips:
- Always Pay in Local Currency: Avoid DCC fees by choosing the local currency at checkout or ATMs.
- Check Acceptance Before You Go: Use the American Express merchant locator map online to see where Amex is accepted in your destination.
- Carry a Backup Card: Have a Visa or Mastercard with no foreign transaction fees as a backup for places that don’t take Amex.
- Notify Amex of Your Travel Plans: While not always required, letting Amex know you’re traveling can prevent your card from being flagged for suspicious activity.
- Use Travel Perks: Maximize your card’s benefits, like lounge access or travel credits, to offset the annual fee.
Comparing Amex Platinum to Other Cards
How does the Amex Platinum stack up against other travel cards? Let’s look at a few popular options with no foreign transaction fees:
| Card Name | Annual Fee | Foreign Transaction Fee | Key Travel Benefits |
|---|---|---|---|
| Amex Platinum | $695 | 0% | Lounge access, $200 travel credit, hotel perks |
| Chase Sapphire Reserve | $550 | 0% | $300 travel credit, Priority Pass lounges |
| Capital One Venture Rewards | $95 | 0% | 2x miles on all purchases, TSA PreCheck credit |
| Delta SkyMiles Platinum | $350 | 0% | Companion certificate, free checked bag |
The Amex Platinum’s high annual fee makes it best for frequent travelers who can use its luxury perks.
If you want a lower fee, the Capital One Venture Rewards card is a great alternative with no foreign transaction fees and a simpler rewards system.
Amex Platinum in Different Countries
Foreign transaction fees can vary depending on where your Amex Platinum card is issued.
Here’s a quick look:
- United States: No foreign transaction fee on the Amex Platinum, making it ideal for US cardholders traveling abroad.
- India: The Amex Platinum in India charges a 3.5% foreign transaction fee plus GST, which can add up to about 4.4% total.
- Canada: The Amex Platinum in Canada has a 2.5% foreign transaction fee, which is standard but less competitive than the US version.
- Australia: The Australian Amex Platinum does charge foreign transaction fees, unlike the US version.
If you’re considering an Amex Platinum card, check the terms for your country. The US version is one of the best for avoiding foreign transaction fees.
FAQs: Amex Platinum Foreign Transaction Fee
Q. Does the Amex Platinum card charge a foreign transaction fee?
A. No, the Amex Platinum card issued in the United States does not charge a foreign transaction fee. This makes it a great choice for international spending.
Q. Can I avoid dynamic currency conversion fees with the Amex Platinum?
A. Yes, always choose to pay in the local currency when shopping or using ATMs abroad. This helps you avoid DCC fees, which are charged by merchants, not Amex.
Q. Is the Amex Platinum accepted everywhere internationally?
A. Not always. While Amex is accepted at over 80 million locations worldwide, some places, especially smaller shops, may only take Visa or Mastercard. Carry a backup card for flexibility.
Conclusion
The Amex Platinum card is a traveler’s dream, especially because it skips foreign transaction fees in the US. Whether you’re sipping coffee in Italy or shopping in Singapore, you can spend without worrying about extra charges eating into your budget.
Pair that with its amazing travel perks like lounge access, travel credits, and hotel benefits, and it’s easy to see why this card is a favorite for frequent flyers. Just remember to pay in local currency, carry a backup card, and make the most of those rewards to offset the hefty annual fee.
Disclaimer: The information in this blog is accurate as of June 2025, but credit card terms can change. Always check the latest terms and conditions on the American Express website before applying or using your card. Your financial situation is unique, and this blog is for informational purposes only, not financial advice.
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