Going abroad? Have you selected a credit card yet? Check these 7 options before you make your decision
Who doesn’t like to travel? Well, before you pack your bags, think about the fintech solutions that will make your trip smooth and comfortable. Cash is becoming obsolete all over the world, while mobile banking might still be treated with caution at some places. Therefore, consider using a bank card. It’s convenient, omnipresent, and it doesn’t take up much space in your wallet.
Below is the selection of the most significant banking options suitable for traveling abroad.
1. Chase Sapphire Preferred
This card is definitely one of the best variants for US citizens. It is specially created for the traveler’s benefit. Imagine that, you’ll get a major cashback amount for dining and traveling abroad. That’s right, you can save significantly along with exploring new cultures and getting fresh impressions.
The fee policy is simple. Users pay $95 annually. Then they start traveling and earning bonus points. If you spend over $4,000 in the first 3 months of use, you receive 60,000 reward points (worth $750). Your points can be doubled or even tripled if you spend money on international flights, hotels, and dining. The points can be redeemed at the most popular airline and hotel loyalty programs.
By the way, there are no foreign transaction fees applied. That is one of the qualities travelers look for. After all, you never know what currency exchange rates you’ll encounter at the local facilities.
2. 28 Degrees card
This Australian offer will attract all those who cannot live through their vacation without the internet and social networks.
The users can enjoy fast, premium quality Global Wi-Fi at more than 1 million hotspots worldwide. Moreover, this credit card can be easily compatible with any mobile or wearable device. Use mobile payments where it’s applicable and take out your credit card where it’s not.
The “no foreign transaction fees” rule also applies to online shopping. If you order from the foreign trading platforms, consider this a double benefit.
Right on the planning stage, 28 Degrees will also be helpful. Free concierge service is available 24/7 to help plan your next holiday. If you found a very tempting last-minute flight and don’t have a payment option yet, you can apply for a 28 Degrees Platinum Mastercard and get a response within a minute.
The card hasn’t any annual fees or currency conversion fees either. Of course, using it is not totally free. You can find the list of all applicable fees here. Users are allowed up to 55 days interest-free on purchases if they pay the full closing balance on each account statement by the applicable due date.
If your card gets lost or stolen, you can always enjoy the worldwide emergency card replacement service.
3. Tangerine Chequing Account
This banking solution comes from Canada.
When you spend money with the debit card, you earn interest that is paid to your account once a month.
Your account can be managed via various online and mobile banking options. Clients receive free email notifications on every transaction. Using the 3500 ATMs of Scotiabank is also free of charge.
Please note that joining Tangerine right now by referral from a friend is very profitable for both. Till the end of April 2019, you can earn $50 using your friend’s Orange Key if you open your first account with a minimum deposit of $100. Existing clients also earn $50 for each friend or family member who becomes a new Tangerine Client. However, even if you miss that chance, the standard referral bonus is $25.
4. Halifax Clarity
This Scottish credit card is good enough for both traveling abroad and domestic spending. It’s very convenient to have all your loans covered with the same account. There are fewer chances you’ll miss a due date or forget the debt.
It offers a free cash withdrawal at any corner of the world. There are zero foreign transaction fees. Interest fees apply to your expenses only if you fail to pay off by the due date. All money spent abroad will be automatically converted to pounds sterling according to Mastercard exchange rates.
On the plus side, Mastercard is accepted practically anywhere. Moreover, more than half of successful applicants usually get a competitive 19.9% annual percentage rate. Others get a rate of 27.9%. However, getting a card depends on your credit history. You can check your eligibility here.
5. Bank of America Travel Rewards credit card
A great reward system is topped with the absence of any annual fees or foreign transaction fees.
The lucky owners of this credit account, have to spend only $1,000 within the first 90 days, in which case, they receive 25000 online bonus points which is equivalent to $250. All the reward points can be redeemed during your next trips.
Unlike the Chase Sapphire Preferred, this card is great for budget travel. The amount to spend is not too big, so even students and low-income users can enjoy the perks of the credit card. You no longer have to save big before embarking on a trip.
Furthermore, if you are already a client of Bank of America, and use one of its savings or checking options, your rewards grow significantly. You’ll receive an additional 10% customer points for every purchase you make with this bank. If you’re a Preferred Rewards client, that bonus will vary from 25% to 75%.
6. Citi Prestige
This credit card is specifically designed for active travelers. Its annual fee is frankly high – $495, but it pays off if you really travel a lot.
Citi’s ThankYou reward program includes bonus points for air travel (5X points), restaurants (5X points), hotels (3X points), cruise liners (3X points), and all other purchases you make abroad (1X points). The points don’t expire so you can use them whenever you want.
If you book a hotel via ThankYou.com, you can also enjoy every 4th night free during a long stay. After September 1, 2019, this benefit will be capped at 2 times, each year, though.
Bonus points can be redeemed at certain airline loyalty programs as well. Those include TrueBlue, Virgin Atlantic Flying Club, and Singapore Airlines Krisflyer. In addition, they can be applied to statement credits, cash and gift cards from popular retailers, or a donation to charity
The owners of the card can get access to hundreds of VIP lounges by means of Priority Pass Select. This is exactly the case when an expensive annual fee may be justified.
The interest fees, that apply if you don’t pay off your balance in time, range from 17.99% to 25.99% depending on your credit score.
7. Barclaycard Arrival Plus World Elite Mastercard
This credit card has plenty of pleasant attributes for the experienced traveler.
To begin with, it uses the international Chip and PIN system for self-service chip terminals around the world. If you use the Barclays mobile app, you can also appraise a new security option. You can instantly lock your cards with Barclays SecurHold, set transaction limits or block certain purchase categories.
Along with the common reward system (70,000 bonus miles for spending $5,000 on purchases in the first 90 days), there’s a nice innovation. Users can earn bonuses for sharing their travel experiences in the new mobile-friendly Barclays Travel Community. That’s a real godsend for anyone who enjoys giving feedback.
Every redemption case brings you an additional 5% miles. Frequent travelers will enjoy that fact. Their balances will be constantly replenished.
An additional benefit is the 24/7 travel card concierge service that performs the function of a dedicated personal assistant. Not all of us have one, yet their help is often priceless.
The pricing policies of Barclays are quite fair. Annual fee equals $89 after the first year of use. Your initial trial term is free. The APR for purchases and balance transfers is no more than 25.24%. It changes from customer to customer based on their financial trustworthiness.
There is a 0% introductory APR for 12 months for those transfers made within 45 days of account opening. A fee for balance transfers can be $5 or 3% of the amount of each transfer, whichever is greater.
Cash withdrawals will cost you 27.49% APR. There are no foreign transaction fees on international purchases.
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