Don't return home to a panoramic credit-card bill - search the market in seconds for the travel-friendly credit card that'll save you foreign currency fees, overseas purchase fees and international ATM fees.
For more information about these awards go to the link at the bottom of this table.
American Express Velocity Platinum Card
Receive 100,000 bonus Velocity Points when you apply online, are approved, and spend $3,000 on your new Card within the first 3 months. Available to new Amex Card Members only. Enjoy a complimentary domestic return flight with Virgin Australia to selected cities, each year after your first card spend.
Earn up to 75,000 bonus Qantas Points ($4k min. spend in the first 90 days on eligible purchases). 0% p.a. for 24 months on balance transfers requested at card application. 1% BT fee applies. $49 First Year Annual fee and Rewards fee. New cards only. T&C's and exclusions apply.
0% p.a.for 24 monthsand then 21.49% p.a.(1.00% balance transfer fee)
NABs fastest way to earn Qantas Points. 120,000 bonus Qantas Points when you spend $3,000 on everyday purchases within 60 days of account opening and keep the card open for 12 months. Access to 6 complimentary insurances when you make eligible purchases.
0% p.a.for 12 monthsand then 21.74% p.a.(3.00% balance transfer fee)
For more information about these awards go to the link at the bottom of this table.
American Express Qantas Ultimate Card
Earn up to 100,000 bonus Qantas Points (75,000 bonus Qantas Points when you apply online by 23 August 2022, are approved, and spend $3,000 on your new Card within the first 3 months, plus an additional 25,000 Qantas Points in your second year upon fee renewal). T&Cs apply. New Card Members only.
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Travel credit card resources
Reviews, news, tips and guides to help find the best travel credit card for you.
What is a travel credit card?
A travel credit card is a credit card with built-in features and perks that can help you to save money when using the card for overseas spending and get more travel benefits out of your card.
Top travel credit card features include money savers like fee-free overseas transactions and $0 overseas ATM fees, and perks like frequent flyer points, travel credits and complimentary travel insurance.
You may have to consider if your regular credit card is the right choice
Or if packing a travel credit card suits you better
Let’s test it out!
Does your card have fee-free overseas transactions?
Whether it’s shopping, eating out or heading to a museum
Some cards charge you when you spend overseas
Let’s say you went on a 2 week holiday overseas and our credit card has a 2.50% margin...
$1000 on eating out
$1000 on shopping
$300 on day tours
$200 on transport
You pay in fees:
That’s a total of $62.50 just in fees!
Imagine what you could spend that cash on instead!
So it’s worth checking if your credit card has transaction fees or a foreign exchange margin before you go
Is there complimentary travel insurance on your credit card?
Travel insurance is a must if you want to be covered when heading overseas
So if your credit card already offers it
Your job is half done!
There are sometimes conditions to qualify for travel insurance on your credit card
Like having to spend a certain amount on booking flights or travel expenses before you leave
Plus cover can also be limited so you may need to take out more with another insurer
Does your card have a frequent flyer rewards program?
While rewards aren’t 100% necessary, they can be a good way to save on travel expenses or earn point on them
You could end up using points to book a flight or snag an upgrade
Or you could even rack up points while you’re away for the next time you travel
Was it a pass or a fail?
A pass? Great! Take that card overseas with you
But if it was a fail...
You may want to consider a travel credit card instead, it’ll likely have these features
The world of Travel Credit Cards
For many Aussies, travelling can give us a hands on experience to all the world has to offer. But in between tasting different cuisines and taking in scenic locations, you might decide you need a piece of plastic to help you get around and pay for those experiences. If you’re considering picking up a travel credit card, here are some of the things you should know.
How can a travel credit card help me while I travel?
So you’ve decided to pick up a travel credit card for your next holiday, but how exactly can a credit card help you out while you travel? Aside from not having to carry heaps of cash around, a travel credit card can include:
Social perks - Many travel credit cards come with complimentary concierge services. Not only can they help to book you a table at a top restaurant, they can also give you access to exclusive overseas events and discounted travel services.
Worldwide acceptance - Since majority of credit cards are linked to Visa, AMEX or Mastercard, you can rest easy knowing that your plastic will be accepted at millions of places around the globe.
Travel Insurance - many premium and rewards credit cards come with free overseas travel insurance. There is criteria for the insurance to be like paying for some of your prepaid travel expenses on the card but it can save you money from having to take out single trip travel insurance.
Can I use my everyday credit card overseas?
Yes, of course. There is no rule against using your everyday credit card on your next getaway, but when considering whether to use it or get a travel credit card there are a couple questions to ask yourself, like:
Does it come with foreign transaction fees? - If you’re planning on taking your everyday credit card overseas, check to see what the fees are on foreign transactions. Depending on the card, these fees can range between 2% - 4% of each transaction. And while this may seem like a minor charge, over a 6 week holiday it adds up. Some travel credit cards do not charge overseas transaction fees so this could save you some money.
Will I have to use it at an ATM overseas? - While paying with plastic has become the norm in Australia, some countries around the world still see cash as king. And if you find yourself in a situation where you’ll need to withdraw cash with any credit card, there’s no escaping the hefty cash advance fee. Always use a your ATM / debit card or consider getting a prepaid travel card for those ATM withdrawals.
What are the pros and cons of using a travel credit card?
If you’re thinking that a travel credit card could be the perfect addition to your holiday, it’s still a good idea to weigh up the pros and cons before making a decision.
Provide up to 55 interest-free days - If you plan on spending big on your holiday, many travel credit cards will offer up to 55 interest-free days just so long as you pay your balance off in full.
Boost rewards points - If you’re a rewards lover, you’ll be able to earn rewards and frequent flyer points as you spend overseas which means you could be taking off on your next trip sooner.
Travel perks - Many cards that are designed to be used overseas will come with certain travel perks, like complimentary travel insurance, lounge access and rewards programs.
Lower or no transaction fees - Credit cards that are designed for travellers will generally have lower foreign transaction fees than your standard credit card.
High annual fees - If you’re looking at a rewards credit card just be aware that these cards usually have higher annual fees so to make up for this, you’ll want to make sure you take advantage of all the extra benefits that come with the card like concierge..
Temptation to spend - Just like back home, with a travel credit card on hand you may tempted you to spend more than you’d initially budgeted. So keep in mind that everything you buy overseas will eventually have to be paid back, so if you’re out souvenir shopping really ask yourself if you need that replica Eiffel Tower statue.
Jean-Paul (JP) Pelosi is an experienced journalist and editor who has contributed to many of Australia's leading media outlets including The Guardian, News.com.au, Domain.com.au, Investment Magazine and ANZ's Bluenotes. He has also edited news and communications for large financial services companies such as CommBank, Suncorp, Allianz and Amex. He loves a well told story and applying his editorial experience to content that readers both care about and enjoy. JP heads up our writing team.
Okay, so you’re ready to start your search for the perfect travel credit card, but how do you know what features you should be comparing? To help, we’ve got compiled a few things you should look out for when it comes to finding the right travel credit card for your spending needs.
The interest rate - Opting for a low rate credit card will keep costs low and can cut down your interest bill. Just keep in mind that most low rate cards don’t come with flashy rewards programs or perks.
Fees - It’s a good idea to keep your credit card away from ATMs to avoid a high cash advance fee and look for a travel credit card that has no foreign exchange and a low or no annual fee. This can help you save a few bucks on everything from dinners to shopping sprees.
Other perks - Depending on your travel needs, things like complimentary travel insurance, free lounge access and the chance to earn rewards points could be make or break when it comes to picking your plastic.
If you’re planning to pick up a high end piece of plastic, like a rewards or platinum card, it might come with complimentary travel insurance. While it is a common extra to find amongst high end cards, just keep in mind that these cards also mean you pay a hefty annual fee. Another thing to remember is that most credit card travel insurance policies will cover the cardholder, their partner or spouse and dependant children under the age of 19. Some of the usual things covered by credit card travel insurance include:
Lost or stolen baggage
Rental car excess
Loss of income
However, while this may tick all the boxes for many travellers, you should still think carefully about whether it offers enough cover and consider whether a stand alone policy is a better option. You can compare travel insurance policies on Mozo to find out which option is better for you.
It’s important to read the fine print beforehand to make sure you fully understand what’s and what’s not covered, plus make sure you activate cover before you take off.
It’s always a good idea to travel with more than one travel money option when you are travelling, as it can give you more flexibility in your payment options. Some other travel money options you have include:
Travel debit cards - One of the best things about having a travel debit card is that unlike a credit card, you won’t be spending money you don’t have, which will help to keep you out of debt. Many travel debit cards also offer 0% foreign exchange fees and fee-free overseas ATM withdrawals. But the downside is with debit cards, you won’t be able to earn any rewards or frequent flyer points.
Prepaid travel cards - With a prepaid travel card, you load up cash with the currency or currencies you need for your trip, then just as you would use a credit card you use it to pay for dinners, shopping trips and withdrawing money at ATMs. Keep in mind that you might have to pay a small fee to recover any leftover funds you have at the end of your trip.
Cash - Depending on your destination, many places may only take cash, so it’s handy to always have some cash on you while you travel. Places like banks and international money exchange agencies are two of the main options you have when it comes to converting your cash into a foreign currency.
If you're finding a travel card isn't for you or you're reconsidering your holiday altogether, take a look at the best credit cards instead.