Article: Best Credit Cards for Overseas Travel & Online Shopping

[SYD]

I have stuck with the Bankwest World MC for the last couple of years, and it has worked well with no exchange fees and uses the standard MC rate of the day for conversion. I have kept my 28 degrees card for some one-offs like hire cars, where the held amount can persist for 10+ days after return. For cash at the ATM I have the Westpac pre-loaded Worldwide Wallet which has given me zero issues so far.

Doesn’t WBC charge 3% (either when withdrawing from the AUD balance OR when converting to foreign currency). I got one thinking I’d use it at their global ATM network but only to realise the hidden fee.

I would have thought the BW card works fee free in an ATM?

 

[OATEK]

Doesn’t WBC charge 3% (either when withdrawing from the AUD balance OR when converting to foreign currency). I got one thinking I’d use it at their global ATM network but only to realise the hidden fee.

I would have thought the BW card works fee free in an ATM?

I never use the World MC for cash advances, so have never worried about the 3%. All foreign transactions are fee free, and that is all that i worry about (although i also get 1QFF pt per $1).

 

[burmans]

Doesn’t WBC charge 3% (either when withdrawing from the AUD balance OR when converting to foreign currency). I got one thinking I’d use it at their global ATM network but only to realise the hidden fee.

I would have thought the BW card works fee free in an ATM?

No Foreign Exchange fee but I think Cash Advance fee still applies

Cash advance fee	3% of transaction amount or $4 (whichever is greater)

 

[SYD]

I never use the World MC for cash advances, so have never worried about the 3%. All foreign transactions are fee free, and that is all that i worry about (although i also get 1QFF pt per $1).

Pretty sure they get their 3% converting your AUD to foreign currency. Using foreign currency is then fee free (similar to QF Money card).

No Foreign Exchange fee but I think Cash Advance fee still applies

Cash advance fee	3% of transaction amount or $4 (whichever is greater)

Loading the card with AUD (no upfront conversion), they’ll charge 3% to get your cash (not Cash Advance) in foreign currency from an ATM (plus any local ATM fee).

I can get cash from an ATM international fee free with UBank or ING (and no ATM usage fee). Just have to navigate local ATM fees at the machine.

 

[OATEK]

Pretty sure they get their 3% converting your AUD to foreign currency. Using foreign currency is then fee free (similar to QF Money card).

I must be missing something here, because I am not using AUD on the card. If for example I am in the UK I buy in GBP. Then that gets converted to AUD at the MC daily rate with $0 conversion fee. The only time I use AUD is when paying off the card each month. Because I have a substantial credit limit on the BW World I have never needed to prepay AUD onto the card.

I do all my cash stuff (eg at the ATM, or in lieu of the BW MC in cafes etc) through the pre-loaded Westpac Worldwide card, and if I use the nominated ATMs then I don't pick up fees.

 

[SYD]

I must be missing something here, because I am not using AUD on the card. If for example I am in the UK I buy in GBP. Then that gets converted to AUD at the MC daily rate with $0 conversion fee. The only time I use AUD is when paying off the card each month. Because I have a substantial credit limit on the BW World I have never needed to prepay AUD onto the card.

I do all my cash stuff (eg at the ATM, or in lieu of the BW MC in cafes etc) through the pre-loaded Westpac Worldwide card, and if I use the nominated ATMs then I don't pick up fees.

How do you “Buy” GBP to put on WWC? My understanding is that first step is effectively an AUD to GBP (or other currency) transaction that has a built in 3% conversion fee? Thereafter transactions in GBP (either as DC purchase or ATM cash withdrawal) are not charged any further fees by Westpac.

If that’s not the case, then I’ll take another look at it (fortunately I’ve have mine with me at the moment as a backup).

I do know for certain that if you just leave AUD on the card and you make a DC purchase in a foreign currency you get charged a 3% fee (I tested that with a small purchase a couple of years ago when I first got one and haven’t used it since.

 

[OATEK]

How do you “Buy” GBP to put on WWC? My understanding is that first step is effectively an AUD to GBP (or other currency) transaction that has a built in 3% conversion fee? Thereafter transactions in GBP (either as DC purchase or ATM cash withdrawal) are not charged any further fees by Westpac.

If that’s not the case, then I’ll take another look at it (fortunately I’ve have mine with me at the moment as a backup).

I do know for certain that if you just leave AUD on the card and you make a DC purchase in a foreign currency you get charged a 3% fee (I tested that with a small purchase a couple of years ago when I first got one and haven’t used it since.

I think we are at cross purposes. My first post was:

I have stuck with the Bankwest World MC for the last couple of years, and it has worked well with no exchange fees and uses the standard MC rate of the day for conversion. I have kept my 28 degrees card for some one-offs like hire cars, where the held amount can persist for 10+ days after return. For cash at the ATM I have the Westpac pre-loaded Worldwide Wallet which has given me zero issues so far.

And you replied:

Doesn’t WBC charge 3% (either when withdrawing from the AUD balance OR when converting to foreign currency). I got one thinking I’d use it at their global ATM network but only to realise the hidden fee.

I would have thought the BW card works fee free in an ATM?

And after that we had BW MC, WBC, BW Card and I referred to World Wide Wallet (lets call it WWW).

I use that WWW card, buying GBP when AUD up a bit and leaving it there (for up to 9-10 mths between trips). You are probably right about the 3% on WWW, but I have never really worried about it. I have been caught out in the past with significant movements in the exchange rate so like having that cash available in the currency of the country I mainly visit.

 

[clifford]

I just use my virtual Wise Visa card everywhere. I transfer GBP from my UK bank account and just let Wise do the conversion for purchases in any currency. Typical convesion cost is 0.3-0.4%. I'm quite happy with that.

 

[burmans]

Yes, any of those debit cards at less than .5% sound better to me than the 3% plus of most CCs

 

[Cynicor]

Yes, any of those debit cards at less than .5% sound better to me than the 3% plus of most CCs

There are a few CCs that have no Fx commission still, but those that earn points are near 0. Off the top of my head it's bankwest QF world, CBA ultimate and NAB signature.

 

[asterix]

There are a few CCs that have no Fx commission still, but those that earn points are near 0. Off the top of my head it's bankwest QF world, CBA ultimate and NAB signature.

CBA Smart Awards as well. It earns less than the CBA Ultimate but the monthly spend to waive the monthly fee is only $2,000 instead of the $4,000 monthly spend required to waive the CBA Ultimate monthly fee.

 

[StayGoldPonyboy]

Yes Comm Bank Ultimate Awards card earns 3 ppd on overseas transactions and 0% ... But yes has the $4k monthly spend to be 'monthly fee' free.

 

[burmans]

+ ANZ Frequent Traveler card (though no longer available for new applicants)

 

[shopper_1802]

Curious if anyone will be cancelling their 28 degrees card now there is an $8 month fee from September 17?
I don't use this card for anything besides a once a year overseas trip. I just have it sitting in the cupboard! Not sure it is now worth paying $96 a year, when you don't earn any airline points.
But there isn't a lot to replace it with for free. I only have a $3500 limit on it so it doesn't affect the ability to churn other cards.
Currently looking at Bankwest Qantas platinum as a replacement. $160 annual fee but there is a sign on bonus and the ability to get Qantas points. Thoughts?

 

[burmans]

Bankwest Qantas platinum comes with a signup bonus, points earn and travel insurance so definitely a decent card.

 

[SYD]

Thoughts on the free BW “Zero Platinum” MC with no int tx fee?

No annual fee credit card | Zero Mastercard® | Bankwest

The Bankwest Zero Mastercard range offers no annual fee, even on Platinum credit cards. Find out more about the additional benefits and apply online. Other fees may apply.

www.bankwest.com.au

 

[burmans]

It’s a decent card, it really depends on your needs and how much you travel (and hence actually use the card). For me I’m prepared to pay some annual fee to get some points and travel insurance but I’m travelling a lot more now in retirement and hence both can use the insurance and have a sizeable overseas spend.

 

[SYD]

It’s a decent card, it really depends on your needs and how much you travel (and hence actually use the card). For me I’m prepared to pay some annual fee to get some points and travel insurance but I’m travelling a lot more now in retirement and hence both can use the insurance and have a sizeable overseas spend.

I’m travelling OS multiple times a year and put everything I can on 28° (otherwise one of several DCs) - just to save a shed load of 3% fees.

So another freebie card is a good start.

I personally don’t rely on CC TI (I know many here do) - I’m probably more likely to purchase the things that trigger the TI using my AMEX or points earning VISA, so paying more than 28° doesn’t make sense and there’s no guarantee I’ll readily get another CC (being self funded - despite others positive experiences with HSBC. I know I and SYD+1 had dreadful experiences with Latitude trying to increase our credit limits, so more than happy to ditch them IF I can get a replacement.

The ongoing Flexiroam 15% discount is no biggy. They routinely have 30% off sales every other day.

 

[PLANT]

Yeah been a wizard--->28 degrees card holder for decades and now the $8 fee no longer worth it....
So now to activate/apply and get the zero platinum bankwest if possible to replace it.
Still have Citi/NAB debit.... and signature card.

 

[60spud]

Is our citi/NAB debit card still fee free overseas. I haven't heard otherwise. And using the citi Prestige overseas with my calculations works out ok. Say $20000 spend = $680 and 24000 kf miles @3.5c = $ 840 I'm still in front.