Best credit cards for overseas use
This is Money has scoured the market to find the best credit cards to use abroad
Unfortunately, the list is very short, as most banks use credit cards to generate extra cash from holidaymakers.
However, we pick out the best cards around, and highlight the different charges to watch out for.
Spending abroad: We research the best card for overseas use
Foreign currency exchange rate fee: Debit and credit cards should charge you what the going exchange rate is, but most will simply add 2.75 per cent to the bill.
Cash withdrawal fee: Again, most banks will charge a 2.75 per cent fee or a minimum charge, which is typically set at £2.75 for withdrawing money out of a cash machine on your debit and credit card. Some will charge a flat fee regardless of the size of the withdrawal.
Till charge: It's not just cash machines that hit consumers' pockets. Some banks have started charging a fee when a credit card is used at a retailer's till.
Dynamic currency conversion: Some overseas retailers, restaurateurs, hoteliers and car hire firms will charge you in sterling, rather than the local currency. By doing this they can make a nice profit on the exchange rate, so you should insist on paying in the local currency.
Do your own research with our credit card finder.
THE BEST OVERSEAS CARDS
Provider | Foreign currency exchange fee | Cash withdrawal fee | Typical APR | Extras |
---|---|---|---|---|
Halifax Clarity Mastercard | None | None | 12.9 per cent | - |
Post Office Mastercard | None | 2.5 per cent | 16.9 per cent | 0 per cent on purchases for 3 months. 0 per cent interest free on balance transfers for 14 months, (2.98 per cent fee). No cash advance fee when purchasing travel money through Post Office. |
Nationwide credit card | Earn commission-free purchases abroad by using their card for purchases in Sterling. The calculation will be based on a 5:1 ratio - for example, £5 spent in Sterling will earn an allowance of £1 commission free-purchases abroad. Purchases abroad beyond the earned amount will be charged 2 per cent commission. | 2.5 per cent handling fee, minimum £3.00 | 15.9 per cent variable. | 20 months interest free on balance transfers (with a 3.1 per cent fee) and three months interest free purchases, OR six months interest free on purchases. |
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