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While you can actually take any credit card overseas with you, here you’ll find cards that offer the most useful features for travel, including those with no foreign transaction fees, complimentary insurance, rewards and other perks. You can also check out tips on what to think about before you apply so that you can get value from your card, wherever you go.
There's no single credit card that's best for everyone as all our needs are different - and what's best for you might not be best for someone else. Keep in mind that we don't compare every product in the market, but we hope that our tools and information will allow you to compare your options and find the best credit card for you.
When you’re looking for the “best” credit card, there are different factors to consider based on your individual circumstances. For young people, looking at entry-level cards or those with moderate minimum income requirements will help improve your chances of approval if you don’t have much credit history.
Cost is another big factor, so a card with 0% international transaction fees is ideal for travel because it could save you around 2-3% per transaction when compared to other credit and debit cards. Low or no annual fees, competitive interest rates and even complimentary insurance can also help you save, while extras like travel insurance, flight or travel credit and airport lounge passes are nice perks if you can get them. Based on these features, we’ve picked five of the best credit cards to look at before your next trip.
This card charges a $0 annual fee for life and no foreign transaction fees, giving you two ways to save on upfront costs when you use it. It also offers free Wi-Fi around the world through Boingo and Mastercard perks that could help you save on hotel bookings or other activities.
While the Latitude 28° Global Platinum Mastercard doesn’t charge a fee for international ATM withdrawals, you will still have to pay cash advance fees and charges if you use it to get money out overseas. You could also pay a lot of interest if you carry a balance on this card as the purchase rate is 21.99% But if you pay off your card by the due date on each statement you can get up to 55 days interest-free on purchases.
Designed to give you more benefits when you travel, this credit card comes with a yearly $400 travel credit you can use through American Express Travel. This benefit alone could balance out the card’s annual fee of $395 p.a., which is on the higher end of the scale.
Beyond the travel credit, this card offers complimentary overseas travel insurance, two complimentary American Express lounge passes you can use at Sydney International (Kingsford Smith) or Melbourne International airport, 2 Membership Rewards Gateway points per $1 spent on most purchases (uncapped), the option to transfer your points to a wide range of frequent flyer partners and hotel perks through Hotels Collection.
As far as frequent flyer credit cards go, this is a lower-cost option thanks to its ongoing $49 annual fee. This also makes it one of the more affordable credit cards that offer complimentary overseas travel insurance.
While it offers up to 0.75 Qantas Points per $1 spent on most purchases, you can collect an additional Qantas Point per $1 if you use it to pay for eligible bookings made with Qantas when you’re in Australia. You’ll also get 1 point per $1 spent overseas, although these purchases will attract a 3% international transaction fee. This card has a 19.99% p.a. purchase rate, which you can avoid by paying off the total listed on your statement by the due date.
While the Bendigo Bank Low Rate First Credit Card doesn’t offer specific travel features, it is designed especially for people aged 18 to 25. Unlike some other entry-level cards, it offers a low purchase rate of 11.99% p.a. and a low annual fee of $29 p.a., making it a good option if you want a card for emergencies or to get a bit of extra wiggle room when you’re paying off travel spending.
It also offers up to 55 days interest-free each statement period and – because of the unique way Bendigo Bank calculates interest – you can benefit from the interest-free period even if you don’t pay off all your balance. This is different to most cards, which won’t offer interest-free days unless you pay off the full amount due on each statement. It does, however, have an international transaction fee of 3% that you’d need to keep in mind when using it overseas or online with international retailers.
This card offers you a $129 Virgin Australia gift voucher each year, which covers the $129 annual fee. All you have to do is make a retail purchase 2 months before you request the voucher. Then you can put it towards your Virgin Australia flights or selected holiday packages. You’ll also earn Velocity Points per $1 spent on eligible purchases and get complimentary transit accident insurance that helps cover the cost of any accidents that happen when you’re travelling on a plane, train or other eligible commercial vehicle.
With the annual fee offset by the flight voucher, it’s the other potential costs on this card you’ll need to consider. It charges a 3.3% fee on foreign transactions, so using it overseas could add up. If you want a card to book travel ahead of time, though, the current offer of 0% p.a. on purchases for 12 months could give you a way to pay no interest on upcoming holidays. After that, a standard purchase rate of 20.74% p.a. applies to purchases unless you pay off your full balance by the due date on each statement.
As well as travel-focused features, make sure you think about the following factors so that you can decide if a credit card fits your travel plans.
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With debit cards and travel cards offering similar features, not every young person will want or need a credit card when going overseas. But if you do want one, these five cards give you a starting point for comparing your options.
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