Using credit card overseas, worth the point ?

[Mqrko]

I came back from Shanghai this week and most of the restaurant accept cash only or credit card issued by chinese bank

 

[Cruiser Elite]

I came back from Shanghai this week and most of the restaurant accept cash only or credit card issued by chinese bank

Chinese oriented restaurants? All the SH restaurants aimed at Western customers take CC without blinking. I love the Chinese CC exp - put in your PIN then sign anyway.

 

[Mqrko]

Yes, Chinese restaurants in food court.

I didn't pay for the western restaurant so I cannot tell

 

[Cruiser Elite]

No the little Chinese restaurants in food courts / side streets etc won't take foreign CCs.

 

[kko]

Going back to OP question, it was all answered by many people (not worth the points, get BW Platinum, 28 Degrees CC and/or Citi Debit Visa).

As for me personally, I've been using the combo of BankWest Zero Platinum MasterCard and Citibank Plus Visa.

Both of those are exclusively for overseas use. Both of those are free for life (This is the Zero Platinum BW card that earns no points but costs nothing).

The benefit of using BankWest card over 28 Degrees card is that it comes with a large array of insurance, including purchase protection, car rental excess (overseas, not just Australia like most cards) and comprehensive travel insurance.

Even though you don't earn points you save twice: First - no foreign transaction fees, second no spread/currency conversion fees (both of those use Visa/MasterCard rates, not bank's when converting), which means, compared to most other cards, you save 5%-10% in total (more on smaller purchases). There's a huge psychological benefit to just being able to freely pay with your card, like you're used to, even for small items, and not having to worry you'll get charged $3.5 fee on a $5 item.

I much prefer paying by card so I mostly pay with MC but always pick up $100-$200 in cash out of an ATM for where cards are not accepted.

I guess I might consider switching to Bankwest Qantas Platinum MasterCard (with the ultimate goal of getting the World card, for the World benefits) but so far it hasn't been worth the yearly fee

 

[lovetravellingoz]

It is never worth is from a rewards point of view. My Amex earns 2 points per $1 spent overseas. At 3% that means it costs $15 per 1000 points. Or 15 cents per point! That is massive. 'Buying' points I never like to pay over about 0.5c per point from credit card sign ups and the like. This is based off a Qantas 280k award which would mean it would cost $1400 to buy those points.

I do what many do on here. Run with a 28 degrees card which sits in a draw in Australia or is used for online OS purchases. And a Citibank Visa Debit which also sits in the drawer in Australia.

2 points per $1 spent overseas.

If you for the sake of easy maths spent $100,000 that would be 200,000 points. (My Citibank was returning 300,000)

Cost at 3% is $3000

If that is moved to Krisflyer that is more than what you need for a J return to Europe plus fuel fines.

Total cost of a J return is then say $4000 with some points left over. Less if your card earns more points.

If one pushes points to QFF then the numbers are less attractive (as is true for many QFF situations wen other FF options can be used instead).


With fees rising, points per $ dropping and the transfer rate to airline points becoming less I am probably about to swap from using cards that had a high overseas point earn to cards with minimal international tx fees that are sans-points..

 

[kko]

Also it might be a good idea for anyone interested in this topic to read the Travel Money: Tips and Tricks guide knowledge.australianfrequentflyer.com.au/knowledge-centre/core-training/travel-money-tips-and-tricks/

 

[Mr_Orange]

I guess I might consider switching to Bankwest Qantas Platinum MasterCard (with the ultimate goal of getting the World card, for the World benefits) but so far it hasn't been worth the yearly fee

I'm not sure what the annual fee for the World is now, but I'm not convinced it would be worth it. I have the World but I am grandfathered on a lower annual fee from when they downgraded the Platinum and existing holders were offered the World at no increase in annual fee.

 

[coco50]

Coco50, you stated in the Ayer's Rock thread you "feel quite righteous climbing the steps to Centrelink" to claim your pension, and yet you say here you spent $60000 on first class airfares. Don't you feel that anyone with the spare cash to spend on first class airfares should not be leaching off the taxpayer and that Centrelink is really meant for more needy people?
There is nothing righteous about that situation

I did not spend $60 000 on airfares. You did not read that post carefully. I do not leach off anyone - including the taxpayer. I pay my own way and only claim what the law says that I can. I felt righteous yesterday when I presented my Feb P&L to Centrelink staff and I did not cause much erosion on the concrete step there. I conduct my activities with the highest legal, moral and ethical principles.

 

[Archipelago]

Probably stating the obvious here, but points, fees, and conversion stuff aside - don't forget to call the bank just prior to departure and tell them which countries and cities you expect to travel to on your itinerary.

Having the best CC doesn't help if it gets blocked as you try to use it in a foreign country when the automatic fraud prevention triggers...

 

[andye]

I'm happy with the Citi Debit though technically not as good as 28d or BW

 

[marki]

I'm happy with the Citi Debit though technically not as good as 28d or BW

Technically agree with you. At least you can take cash out overseas from an ATM. 28D charges $ for that what about BW?

 

[kko]

28D charges $ for that what about BW?

Both of them charge you for it. Those are credit cards (although curiously, 28d didn't use to until mid 2014 IIRC).

 

[morfergus]

Are you certain that BW charges for ATM withdrawals if you are accessing your own funds (i.e. account in credit)? Their website says they charge the greater of 2% or $4 for cash advances. Do they consider withdrawing your own funds via ATM a cash advance?

This is what I, and many others, used to do with the 28 Degrees (or Wizard Clear Advantage as it was then) card until they changed their fees. Just wondering how it works for BW Platinum. I have been happy using my 28 Degrees and Citibank Plus Debit, but am considering the BW Platinum for some points earn overseas.

 

[Mr_Orange]

Are you certain that BW charges for ATM withdrawals if you are accessing your own funds (i.e. account in credit)? Their website says they charge the greater of 2% or $4 for cash advances. Do they consider withdrawing your own funds via ATM a cash advance?

This is what I, and many others, used to do with the 28 Degrees (or Wizard Clear Advantage as it was then) card until they changed their fees. Just wondering how it works for BW Platinum. I have been happy using my 28 Degrees and Citibank Plus Debit, but am considering the BW Platinum for some points earn overseas.

An ATM withdrawal using the BW credit card is considered a cash advance whether it is at home or abroad. In fact, most, if not all, credit cards are like this. The exception was the 28 degrees card until it changed.

 

[Snoopydoo]

Bumping this old thread to get some more info please. So the general consensus here seems to be a 28D CC (which I already have) + a Citibank Plus Visa Debit for ATM withdrawals which I will apply for closer to my travel dates. My question is (and I know it reads to be an extremely stupid question but I can't get my head around it) - am I topping up my Citibank account with AUD or USD?

Incidentally, not a single post on this thread mentioned the Qantas cash card and yet it is extremely popular on a finance FB group that I'm a member of (all the members are about how to best get your money to work for you so one would think they know what they're talking about when recommending QC...)

 

[Mr_Orange]

Bumping this old thread to get some more info please. So the general consensus here seems to be a 28D CC (which I already have) + a Citibank Plus Visa Debit for ATM withdrawals which I will apply for closer to my travel dates. My question is (and I know it reads to be an extremely stupid question but I can't get my head around it) - am I topping up my Citibank account with AUD or USD?

Incidentally, not a single post on this thread mentioned the Qantas cash card and yet it is extremely popular on a finance FB group that I'm a member of (all the members are about how to best get your money to work for you so one would think they know what they're talking about when recommending QC...)

Citibank Plus is a domestic transaction account so only accepts AUD. You just shove the debit card in a foreign ATM and withdraw local currency.

QCash is a rip. Stay away.

If you are chasing QFF points, then consider the Bankwest Qantas Platinum card. Only 0.5ppd but at Platinum level is fee free when used abroad or foreign transactions on the internet.

 

[Cynicor]

Bumping this old thread to get some more info please....

Incidentally, not a single post on this thread mentioned the Qantas cash card and yet it is extremely popular on a finance FB group that I'm a member of (all the members are about how to best get your money to work for you so one would think they know what they're talking about when recommending QC...)

If they talk about Qcash being any good I'd run a million miles from their advice! You can't beat Citi unless you are a massive bear on the FX rate. The FX rates are terrible and Q points themselves have such huge surcharges to use.

The alternative to 28 degrees is a BW Plat or World card that also gives points and is FX free but they have annual fees. You would need around $7000 of FX spend a year to drop the points cost to 0.5c/point.

 

[get me outta here]

So, both the BW W and the BW Plat have the same low forex? BW W is 0.66 and the plat card is 0.5c/point per $.

 

[Cynicor]

So, both the BW W and the BW Plat have the same low forex? BW W is 0.66 and the plat card is 0.5c/point per $.

No forex fees, correct. You can't start at the world, however, it has to be an upgrade.