Top Picks for Navigating Foreign Tours
In the world of travel, having a card that offers competitive exchange rates and no foreign transaction fees can make a significant difference in your holiday expenses. Here's a roundup of some of the best travel credit and debit cards available in the UK.
For credit cards, the Capital One Venture Rewards Credit Card, Capital One Venture X Rewards Credit Card, Chase Sapphire Preferred® Card, American Express Gold Card, and Citi Strata Premier® Card are popular choices. These cards offer no foreign transaction fees, rewards on purchases, and good exchange rate policies, making them ideal for frequent travellers.
On the debit card front, the Wise International Debit Card, Charles Schwab Investor Checking, Betterment Checking, Fidelity Cash Management, and Chime are some of the best options for international travel. Charles Schwab and Betterment Checking stand out due to their no foreign transaction fees and unlimited ATM fee reimbursements abroad, making them excellent for frequent global travellers. Wise offers competitive conversion rates with good withdrawal fee policies on the first $100 per month, while Chime uses live Visa exchange rates with no FX fees but charges for international ATM withdrawals, making it better suited for purchases rather than cash access overseas.
Key features of these travel credit and debit cards include: - No foreign transaction fees (0% FX fee) - Competitive or near mid-market currency exchange rates - Fee-free ATM withdrawals or ATM fee reimbursements internationally - Rewards on travel spending with credit cards (miles, points) - No or low annual fees
If you prefer credit cards for rewards and protection, Capital One or Chase cards are strong options. For fee-free ATM and spending access abroad, Charles Schwab or Wise debit cards excel.
In addition to travel cards, there are other options worth considering. The Halifax Clarity credit card offers 0% interest on balance transfers for 31 months. The Hilton Honors Plus Debit Card has no foreign exchange fees and earns up to 4.5 Hilton Honors points for every £1 spent on eligible purchases. Monzo offers fee-free spending at home or abroad and earns 3.25% AER (variable) with an Instant Access Savings Pot.
Starling Bank, another popular choice, has no fees on spending or cash withdrawals at home or abroad, and earns 3.25% in-credit interest on a maximum of £5,000. NatWest Travel Reward Credit Card has no foreign transaction fees on purchases abroad and offers 1% cashback (max £10 per month) on all purchases.
Using a competitive travel card can help save on holiday expenses by avoiding foreign transaction fees of around 3%. However, it's essential to consider the annual fees, rewards, and other features each card offers to find the one that best suits your travel habits and financial needs.
[1] Source: MoneySavingExpert [2] Source: The Telegraph [3] Note: These cards may have other terms and conditions, so it's essential to review them before applying.
- Capital One's Venture Rewards Credit Card, Venture X Rewards Credit Card, and other cards like Chase Sapphire Preferred® Card, American Express Gold Card, and Citi Strata Premier® Card offer rewards for personal-finance enthusiasts who travel frequently, providing no foreign transaction fees and competitive exchange rates.
- For those seeking to avoid foreign transaction fees and unlimited ATM fee reimbursements abroad, the Wise International Debit Card and Charles Schwab Investor Checking stand out as top picks for frequent global travelers.
- For those looking to save on holiday expenses through a travel card, the Halifax Clarity credit card and Starling Bank offer competitive options, with the Halifax Clarity card offering 0% interest on balance transfers for 31 months and Starling Bank featuring no fees on spending or cash withdrawals at home or abroad.
- Monzo's debit card offers fee-free spending at home or abroad and provides 3.25% AER interest for an Instant Access Savings Pot, making it another option for personal finance and travel-focused individuals. NatWest Travel Reward Credit Card also has no foreign transaction fees, offering cashback on all purchases (max £10 per month) for those who prioritize savings on travel-related expenses.
