How does the 28 Degree Mastercard compare to other travel money options?
So what plastic should you take on holiday? Here, we’ve rounded up the key features of the 28 Degrees Mastercard and compared them to travel money cards and the Citibank Plus Transaction Account to help you find the right type of card for your next trip overseas.
Compare No Foreign Transaction Fee Credit Cards
Using the 28 Degrees Mastercard for travel and international purchases
The 28 Degrees Mastercard can help you save on fees when you're spending money overseas by offering 0% currency conversion fees. In comparison, most credit cards charge a currency conversion fee when you shop or spend overseas, which is usually between 2–4% of the total transaction. Depending on your travel plans, this could add up to hundreds of dollars over the course of your trip. Other key features of the 28 Degrees Mastercard include:
- Annual fee. While many credit cards charge a yearly fee that could be worth hundreds of dollars, the 28 Degrees Mastercard has $0 annual fee for life.
- Up to 55 days interest-free on purchases. The 28 Degrees Mastercard also offers up to 55 days interest-free on purchases when you pay your balance in full by the due date on each statement.
- No international ATM withdrawal fees. You can access cash with convenience overseas with a $0 international ATM withdrawal fee. Note that cash advance fees and charges will still apply when you use this card to withdraw cash. Local ATM operator fees may still apply as well. Most of the time these fees are advised at the time of the transaction.
- Cash advance rate. The usual cash advance fee is 3% of the cash advance or $4 (whichever is greater) and is charged when the card is used to withdraw money from an ATM. Interest on cash advances will apply at 21.99% p.a. charged from the date of the cash advance.
Using prepaid travel cards overseas
- Earn up to 1.5 Qantas Points per eligible $1 spent
- 11 currencies on one card
- Lock in exchange rates
The Qantas Cash allows you to earn Qantas Points on all transactions including local and foreign transactions.
- Choose from 11 currencies on the one card: USD, GBP, EUR, THB, NZD, SGD, HKD, CAD, JPY, AED and AUD.
- Ability to load money and convert currencies 24/7 on the secure customer portal.
- Locked-in exchange rates for multiple currencies and low and transparent fees.
- Accepted electronically – at over 35 million locations in over 210 countries worldwide.
These accounts let you hold multiple foreign currencies at once, so you can spend overseas without incurring additional costs for currency conversion. By loading a travel card with US dollars, for instance, and spending in US dollars, you can avoid this fee.
Unlike some credit cards, which charge a fee when an additional card is issued, a second travel card may be given to you for no charge when you open an account. The second card acts as a backup in case the first card is lost or stolen. Because these are usually either Visa or Mastercard products they also have anti-fraud protection built in.
Travel cards attract an additional ATM fee for overseas withdrawals. In many cases the fee is less than the flat fee charged by your debit or credit card provider. For instance, the NAB Traveller Card, has an ATM fee of
Overseas: $0 per withdrawal via international ATMs
Domestic: $3.75 fee applies
Moving and transferring funds
NAB call it the "NAB Currency to Currency foreign exchange rate". This rate is used when you load and reload the NAB Traveller Card or move funds between currencies on the account.
The Mastercard exchange rate applies when you spend in a currency not loaded on to the card. It’s a little lower than the NAB travel card rate; however, the NAB currency conversion fee of 4% is charged on top of the exchange rate.
Travel Money Card Comparison
Using debit cards overseas
It’s easy to take your debit card with you travelling – there’s nothing to sort out and you have access to your bank account. Although this option may be more convenient in the short term, it could be a more expensive option in the long run, with many debit cards charging currency conversion fees and foreign ATM fees.
The Citibank Plus Transaction Account is an example of one that doesn’t charge for international transactions. Citi’s global ATM presence also means you shouldn’t have to venture far to find an ATM where you can withdraw for free.
Unlike travel cards, transaction accounts generally hold the majority of a traveller’s budget. Much like other travel plastic, you’re protected if you’ve been defrauded by the card scheme’s anti-fraud guarantees.
The Citibank Plus Everyday Account has no fees for foreign transactions or ATM withdrawals, making this card a product to consider for your overseas travels.
Compare travel debit cards
Popular questions for using the 28 Degrees Mastercard
- Q: Can you use 28 Degrees Mastercard as a debit card?
Yes. You can transfer money onto the 28 Degrees credit card and use it like a debit card.
If you preload the account with a positive balance you won’t get charged interest on purchases and cash withdrawals as you’re using your own money.
- Q: The 28 Degrees credit card cash advance fee and credit card cash withdrawals
The 28 Degrees credit card cash advance fee is charged every time the Mastercard is used for an ATM withdrawal. A local ATM fee may also charged when you use the 28 Degrees Mastercard to withdraw cash overseas.
By putting the 28 Degrees card into credit, you waive the Mastercard Zero Liability Guarantee. This guarantee protects you if you’re defrauded.
Use a combination of travel money for best results
Each of the products on this page has it’s own advantages and disadvantages and will appeal to different people. It comes down to how you spend and the type of holiday or trip you’re going on. Compare your travel money options here.Back to top