Top credit cards for overseas shopping and holidaying

Top credit cards for overseas shopping and holidaying

Whether you’re planning on online shopping or heading overseas this Christmas holiday season, now is the time to get travel money savvy and avoid paying high interest rates and foreign transaction fees on your credit card.

And because we know that it’s far more exciting to be spending your time looking at sites with 50% off Italian leather shoes and luxury spa treatments than credit card product disclosure statements, we’ve rounded up some of the the best credit and debit cards for the upcoming travel and shopping season.

1. Pay no overseas transaction fees.

With some cards charging up to 4% on every foreign transaction this can add up to hundreds of dollars in extra charges on an average 2 week overseas holiday or overseas online shopping spree. Skip fees by getting one of the following fee free cards:

Bankwest Breeze Platinum MasterCard

Why we like it:

  • no foreign exchange fees on international purchases

  • 0% on purchases for 10 months

  • Complimentary international travel insurance

But consider… You’ll need to use your credit card to purchase your overseas flights for the free insurance to kick in.

28 Degrees Mastercard


Why we like it:

  • no overseas transaction fees (ATM, online or purchases)
  • no annual fee
  • Australia’s best exchange rates for credit cards

But consider… 28 Degrees Mastercard has now introduced a cash advance fee of 3% so if you do want to use this card for ATM cash advances keep this in mind.

Citibank Transaction Plus


Why we like it:

  • no foreign exchange fees

  • no account fees

  • it’s a debit card, so you don’t have the temptation of getting into debt

2. Enjoy an interest free holiday.

Want a helping hand to cover the cost of Christmas or simply like the idea of enjoying an interest free holiday? Getting a card that doesn’t charge you interest on purchases could save you a fortune.

NAB Low Rate Card


Why we like it:

  • 0% on purchases for 14 months

  • Up to 55 days interest free on purchases

  • $59 annual fee

But consider… Just because there is no interest on purchases, it doesn’t mean you should max out your card. Have a clear plan to pay off what you spend.

Virgin Australia Velocity Flyer Card


Why we like it:

  • 0% on purchases for 6 months

  • 2-for-1 flights 4 times a year

  • $129 annual fee in first year

But consider… After you spend $1500 a month the earning rate drops to 1 point for every $2 spent.

3. Earn rewards for your spending

We all love something for nothing so if you pay off your balance in full each month why not get something back for it? Here are some top deals: 

American Express Velocity Platinum Card


Why we like it:

  • 50,000 bonus Velocity points on first spend

  • Complimentary domestic return flight every year

  • Earn 1 point per dollar on overseas transactions

But consider… The $349 annual card fee. It might seem a little steep but if you travel frequently the cost of the free travel insurance and free domestic flight each year more than make up for this. 

HSBC Platinum Qantas


Why we like it:

  • 20,000 bonus Qantas frequent flyer points

  • Earn 1 point per dollar on overseas transactions

  • $0 additional cardholder fee

But consider… Paying off your balance in full each month to avoid the 19.99% interest rate on purchases. 


Bankwest Rewards Transaction Account


Why we like it:

  • Earn 10 points per dollar spent on overseas and online overseas purchases
  • No overseas ATM fees
  • Australia’s first rewards transaction account
  • Earn points for a wide range of goods and services including retail, flight and shopping rewards

But consider… There is a $6 monthly account fee but you can avoid paying it by depositing at least $2000 a month into the account.


MORE in this month’s Moneyzone

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Qantas and Virgin Australia have launched prepaid travel cards of their own. But how do they stack up against the competition? See which travel cards come out on top >>


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Is your hard-earned attracted to holiday rip-offs? 5 ways to have fun without the traps >>


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Don’t let post-vacation money blues ruin a good time. Top tips to beat holiday spending hangover >>

Top credit cards for overseas shopping and holidaying was last modified: July 27, 2015 by Mozo