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desreb

Best credit card for foreign transactions

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Hi all,

 

I've just been looking at a few credit card comparison sites to try and find a decent credit card for travelling abroad. I fly to NZ around once a month, and we're planning to visit other places occasionally too. We currently have debit cards with Westpac choice, and the foreign transaction fees are higher than I'm used to in the UK, hence I thought I might shop around for a better option.

 

Basically I'm looking for low transaction fees. Many cards use the exchange rate set by MasterCard/VISA/Amex, but may add a fee on top of that.

 

Also - I notice most cards are for PR, and we don't have PR yet. What alternative approach do people use for getting foreign funds? In the UK, our best option was usually Nationwide ATM card (before they introduced a fee), or Post Office for currency.

 

Thanks!

 

 

 

D

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I would also be interested in knowing this I'm leaving OZ for the first time at the end of the month and not sure the best way to go, I don't think anyone uses travellers cheques these days do they?


If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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I saw a post here for prepay FX cards. Not sue if they're any cheaper or just easier for travellers without local bank account. You would think/hope that some company somewhere wants to beat the market on price.

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The other good thing is you get free travel insurance and other insurance.

I had a good outcome where I had something stolen last year in Europe, and was fully reimbursed when I returned to Australia as I had purchased it on my NAB gold card


I want it all, and I want it now.

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In my opinion without a doubt the NAB Gold Visa Debit.

This card does not charge a Foreign Exchange Conversion Fee.

 

The catch is it costs $10 a month, however if you are able to deposit $5000 per month you don't pay the fee.

 

http://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/5/1/3

Thanks Parley I will have a look in to that:notworthy:


If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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