What are my best credit card options?
Australians are well-known globetrotters. But since March 2020, Australians have not been able to satisfy their urge to travel due to the total travel ban imposed by the government.
Fortunately, signs point to the possibility of an upcoming reopening of international travel.
So, to prepare for a long-awaited trip abroad, you might want to consider finding a travel-friendly credit card.
So what is the best credit card to travel with
It really depends on what you’re looking to withdraw from your card and how you’re going to spend on your trip.
You could look for a credit card with no exchange rate or a card that will earn you points for stealing and spending. It’s all about doing your research and finding the best credit card for you travel with.
Credit cards with no exchange fees
If you want to shop but avoid currency exchange fees, it would be best to find a credit card without these additional fees.
The majority of credit cards in the Mozo database have currency exchange fees, ranging from 1.50% to 3.65%. This means that for each transaction abroad, this percentage is billed to you in addition. Although the percentage is small, the costs can add up throughout a trip.
That said, there are credit cards with a 0% currency spread, which means there are no fees when you spend overseas. If you’re not looking for any currency exchange fees when traveling, there are over 25 credit cards in the Mozo database, such as the ANZ Travel Adventures Card, Coles Rewards Mastercard, and Latitude 28 Degrees Global Platinum Mastercard. Another example is the humm90 Mastercard, on which we have provided more information below:
- No foreign transaction fees
- 110 days without interest
- 0% per annum interest on balance transfers for the first 36 months (conditions apply)
The humm90 Mastercard credit card could be a good choice for avid globetrotters as it has no overseas transaction fees on online purchases abroad or abroad. You can enjoy 110 days without interest on your purchases, but it would be wise to stay on top of refunds to avoid the 23.99% pa buy rate and the $ 35 late fee. There is also an annual fee of $ 99 to pay on top of that. Additionally, if you are looking to transfer existing credit card debt, those who successfully applied before October 10, 2021 are eligible for 0% interest per annum on balance transfers during the 36 first months. But be sure to take advantage of this interest-free window, as the balance transfer rate reverts to the cash advance rate of 25.99% per annum after the three years.
Travel Rewards Credit Cards
If you’re more of a rewards-oriented, you might want to go with a card that has a good rewards program. Currently, the Mozo database offers more than 100 rewards credit cards, of which more than 80 offer points that can be used for international flights.
Since Australia’s borders are not yet open, maybe now is the time to start saving bonus points to use for your future vacation.
Once you have applied for a credit card with bonus points, the points are made available after a period specified by the credit card provider, not in advance, so it’s best to start early. Additionally, some of these premium cards may also come with additional points-less perks like free travel insurance attached to them as well, so it’s worth keeping an eye out for.
Check out some of the best credit cards with extra benefits without points:
Qantas Rewards NAB Signature Card
- 1 point per $ 1 spent, up to $ 5,000 spent per month (conditions apply)
- 110,000 bonus points (conditions apply)
- Access to NAB’s 24/7 Platinum Concierge Service
The Qantas Rewards Premium NAB Card allows you to earn approximately 1 point per dollar on Visa, up to $ 5,000 per month, then 0.5 point per dollar on Visa, up to $ 20,000 per month (terms and conditions s ‘apply). Additionally, if you spend $ 3,000 on daily purchases in the first 60 days and keep your card open for more than 12 months, you may be eligible to earn an additional 110,000 Qantas Points (terms and conditions apply). Cardholders also benefit from access to concierge service, international travel insurance, transit accident insurance, and interstate flight inconvenience insurance. While these benefits come at a price; the card has a purchase interest rate of 19.99% pa, an annual fee of $ 395, and a late fee of $ 15. Travelers will also want to keep in mind that the Qantas Rewards NAB Signature Card has a 3% currency exchange fee.
NAB Rewards Platinum Card
- Use points to book flights on any airline
- 60,000 bonus points (conditions apply)
- Points are not capped and do not expire
The NAB Rewards Platinum card offers 60,000 bonus points when you spend $ 1,000 on daily purchases during the first 60 days of card use (terms and conditions apply). You can earn 1 point for every $ 1 spent regularly (terms and conditions apply). An option for travelers to consider, cardholders enjoy concierge access, international travel insurance, transit accident insurance, and interstate flight inconvenience insurance, but Travelers should note that it carries a 3% currency exchange fee. The card has a purchase interest rate of 19.99% pa and an annual fee of $ 250, as well as a late fee of $ 15. The NAB Rewards Platinum card also offers a balance transfer rate of 0% per annum (2.00% balance transfer fee) for the first 6 months, but be aware that it then reverts to a rate of 21.74 % per year high.
^ See information on Mozo Experts Choice credit card rewards
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