Quick thought — those who hate annual fees might like the Fidelity Amex.
Earns 2 WorldPoints per dollar (which can be worth more than a penny though not much more) and charges 1% foreign exchange fee.
Relative to a CapitalOne 2% Visa (which really nets 0.6% = 2% - 1.4%), you're netting a little more than 1%, maybe 1.5% if you know how to use WorldPoints...