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The credit cards below earn frequent flyer points directly or rewards points that can be converted to Qantas or Velocity.
These credit cards provide a way to avoid extra charges when you make purchases overseas. They also offer points per $1 spent on eligible purchases both in Australia and overseas.
In comparison, most frequent flyer credit cards charge a foreign transaction fee worth around 3% of each purchase you make overseas or online with an international store. While you’ll still earn points, the foreign transaction fees can add up.
Say you’ve spent $5,000 on your credit card for a trip overseas. On a frequent flyer card with a 3% foreign transaction fee, you’d be charged around $150 for your spending. With a card that offers 0% foreign transaction fees, you wouldn’t have to worry about this cost.
The only exception is if you used your card to withdraw cash from an ATM or make any other cash advance transactions. These charges will attract a cash advance fee and be charged interest from the time of the transaction. You may also have to pay ATM fees.
Here’s what to look out for if you’re interested in this type of card:
Watch out for these pitfalls so you make the most of your credit card:
As well as these factors, one of the biggest potential issues is assuming that this type of card is right for you. As there are very few frequent flyer credit cards that don’t attract a foreign transaction fee, you will have limited options when it comes to other features and costs. In some cases, you may find a frequent flyer credit card that charges a foreign transaction fee but offers more perks, will provide more value. But if saving money is a priority, a card that offers no foreign transaction fees without rewards could be a better bet in the long run.
Alternatively, you could consider a prepaid travel card that lets you load and spend money in multiple currencies and also earns points, such as the Qantas Travel Money or Velocity Global Wallet. With all these options available, the most important thing is for you to think about what features you do and don’t want so you can find a card that best suits your goals.
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Back to topLearn more about how PayActiv's Earned Wage Access service can help you access up to $500 of your paycheque for a $5 fee charged fortnightly (only if you access your wage before payday).
Get $250 credit back when you meet the eligibility requirements and 55 days interest-free on purchases.
Pay no interest on your credit card debt and clear it faster with a 0% balance transfer credit card. Compare and apply here.
InstaPay is a pay-on-demand service offered by Employment Hero that allows employees to access salary advances of up to $250 per week for a flat fee starting from just $2.
The ANZ Rewards Platinum Credit Card offers a competitive rewards program, $0 annual fee for the first year, a $500 gift card, a balance transfer offer and a range of complimentary insurance covers.
Available to Woolworths Group employees and family, this low-cost card comes with simple features and mobile payment options.
SPONSORED: In a time of financial volatility, here are the key ways to find a credit card that offers you bang for your buck.
This low rate credit card has a $0 annual fee and is available to firefighters and other service workers or volunteers.
A low rate platinum credit card that includes a cashback offer and perks such as complimentary travel insurance and purchase insurance.
The St.George Vertigo Platinum card offers a $300 cashback offer, up to 55 days interest-free period and a 12.99% p.a. interest rate on purchases.
I am a retired person on a part Australian pension and part funded from my Superannuation.
I would like to apply for a Bankwest Qantas Platinum MasterCard or similar that may give me free travel insurance with no or low fees and no overseas transaction fees.It is not so easy to give you an income per year amount as if I don’t have enough cash for holidays or big purchases I just withdraw from my Super. I at the moment have 4 credit cards with a $50,000 credit and nothing owing. I was looking for a card with no fees that I can use overseas.
Thanks Gary
Hi Garry,
thanks for the comment.
You may wish to contact Bankwest directly regarding this. They’ll be able to help answer whether or not you’ll be able to apply for this card given your personal circumstances.
I hope this helps,
Marc.