If you're thinking about a holiday you're not alone. Finder consumer surveys show that 54% of Australians plan to go overseas in the next 12 months.
Here are some of the best credit cards for overseas travel that will help you save on foreign transaction fees and other holiday costs.
Credit cards offer different types of travel features including 0% foreign transaction fees, airport lounge access and frequent flyer rewards. To kick-start your comparison, we've picked out 4 credit cards with popular travel features.
Pros & cons
Why we like it
Pros & cons
Why we like it
Pros & cons
Why we like it
Pros & cons
Why we like it
Yes, you can use any credit card when you travel overseas. Just like in Australia, the business will need to accept card payments, but that's common in a lot of popular travel destinations.
Keep in mind that many credit cards and debit cards charge a 2-3% foreign transaction fee when you make payments in another country. So before you go overseas with your everyday card, check its foreign currency fee to make sure it's affordable.
If you're trying to save money, the best credit card to use overseas is likely one with 0% foreign transaction fees. If you want a card that can help you earn points and get you there for free, you can compare frequent flyer credit cards.
There are 4 main types of credit cards that offer features and benefits for travellers:
When picking the best credit card for overseas travel, there are 2 main credit card fees to watch out for:
💡 Tip: Don't forget about annual fees
When you're comparing credit cards for travel, remember to check the annual fee costs. Some cards with rewards and travel perks charge annual fees of $400 or more.
For some people, the value from perks will justify the cost of the annual fee but for others a card that offers a $0 annual fee will make more sense.
Using a frequent flyer credit card is an easy way to earn points for reward flights or other travel perks. If you're collecting points through a few frequent flyer programs, you could also look at a rewards credit card that lets you transfer points to partnered airlines or hotel loyalty programs.
While rewards and frequent flyer points are great, using a rewards card that charges a foreign transaction fee while you're overseas will likely negate any value you'd get from these rewards.
💡 Tip: Bonus point offers
You can often get thousands of bonus points when you sign up for a new frequent flyer or rewards credit card. Usually, you'll need to meet a spend requirement to get them, such as spending $3,000 in the first 3 months.
Sometimes, you'll even earn enough bonus points to fly overseas – so keep an eye out for these credit card offers.
Using a credit card that offers complimentary international travel insurance can help you save money on buying cover.
The complimentary travel insurance usually covers overseas medical insurance, transit accidents and travel delay. The cover usually extends to your spouse or any dependant children travelling with you. As well as travel insurance, some credit cards offer purchase security insurance and extended warranty so you can shop with peace of mind.
It doesn't make sense to get a credit card just for travel insurance because of the potential ongoing costs and impact to your credit score. But I also wanted a card with 0% foreign transaction fees that I could use when I was on holiday overseas. And I didn't want to pay a high annual fee. So I chose a card that met these requirements to help save on costs.
Amy Bradney-George, credit card senior writer
Credit card travel insurance saved me $200 – here's how
A credit card that offers complimentary lounge passes gives you a way to relax in style before your flight.
If you're travelling overseas, look for a card that offers lounge access for international airports – such as American Express Centurion Lounges and Priority Pass lounges. If you're travelling in Australia, there are also cards that offer Qantas Club or Virgin Australia domestic lounge invitations.
Some credit cards offer flights or yearly travel credit, concierge services to help with travel bookings, entertainment and restaurant reservations while you're away or more points per $1 spent overseas and on bookings with an airline partner.
There are also a few high-end cards that offer hotel status and perks. These types of benefits can add even more value and help justify the typically higher annual fees that some more premium cards charge.
Instead of putting all of your eggs in one basket, you should take at least 2 travel money options with you. This may include a credit card or prepaid travel card, your debit card and some cash. That way you'll have a backup if your card is lost or stolen and can avoid being charged credit card fees withdrawing cash from an ATM.
💡 Tip: Global transaction accounts
If you plan to live and work overseas for a while, you could also consider a transaction account that lets you deposit and spend money in different currencies. For example, the Wise multi-currency account or the HSBC Everyday Global Account.
Create a travel budget and use your credit card to spend responsibly. You have to repay everything you put on the card – plus interest if you don't pay your balance in full.
If you are sent a credit card statement while you are travelling, you will need to make a payment by the due date as usual. If you have access to a secure internet connection, you can do this through online or mobile banking.
Alternatively, you could call your bank to pay by phone. If you're earning money overseas, check out Finder's guide to making repayments with foreign currency.
Planning your next trip? Check out our selection of frequent flyer credit cards and see if you can get a few thousand bonus Qantas or Velocity Points when you book your trip.
"I always travel with my CBA Gold card. It has no foreign transaction fees and also has travel insurance included. The other benefit to using credit cards when you travel is that any fraud happens, it is dealt with swiftly by the bank."
Find out which brands ranked highly at 2024 Finder Awards for travel credit cards.
The Bankwest Zero Platinum won this year's Finder Award again as it offers no foreign transaction fees, no annual fee and comprehensive overseas travel insurance. Its 14.99% interest rate on purchases scored highly and helped establish it as a card that travellers can use save on a range of costs.
The Bendigo Bank Ready Credit Card rated highly with its 0% foreign transaction fees, ongoing $0 annual fee and complimentary travel insurance. In addition to the 19.99% purchase rate and $5 overseas ATM withdrawal fee during the analysis period, it provides worldwide Mastercard acceptance.
The NAB StraightUp Card is a no-interest credit card that charges a flat, monthly fee when you use the card. If there's no balance and no spending in a statement period, the monthly fee is waived, making it a low-cost alternative to traditional credit cards and buy now pay later services. The card also offers 0% foreign transaction fees and is a finalist for the second year in a row.
Every year the Finder Credit Card Awards celebrate Australia's top credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data. Because credit card offers change regularly, these cards might not currently have the most competitive deals but you can use them as a benchmark for current offers.
Get insights on how many people are part of supermarket and airline programs, how they redeem points and more.
Learn how to apply for a credit card when you're retired or on a pension and compare cards to find one that suits your needs.
Find out whether your spouse or children are eligible for cover under your credit card complimentary insurance policy.
Learn how to apply for a credit card and increase your chances of approval with these 8 tips.
Get a percentage of your spend back, gift cards or vouchers with a cashback credit card. Find out more and compare current offers in our guide.
While there isn't one best credit card, you can find a card that suits your needs by comparing the features, deals and offers that are trending here.
Just got a new job? Learn about the eligibility criteria you'll need to meet to apply for a credit card.
Want to factor the credit card provider into your comparison? Here are some details to help you get started.
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Calculate how much you're paying in interest based on your current credit card repayments and discover how much you should pay each month to meet your financial goal.
Hi,
Is there any card that offers zero foreign transaction fee, and currency conversion fees? If not what card offers the lowest fees.
Regards
Tony
Hi Tony,
Thanks for your question.
You can compare a range of cards that charge no foreign currency conversion fees or transaction fees.
I hope this will help.
Thanks,
Elizabeth
Hi,
Can I obtain cash out at the point of purchase in the USA like we can here in Oz?
Hi N,
Thanks for your question.
This is possible, but it’s up to the discretion of the retailer.
I hope this has helped.
Thanks,
Elizabeth
I have been told that to avoid bank currency exchange rates that if you load your credit card up with extra money that there is no foreign exchange rate charge – is this true ?
I have the NAB premium card.
Hello,
I would like to avoid taking a credit card and have the Qantas traveller card but am a little confused with conversion – I am going to Brazil and the card does not hold the Brazilian Real, but if I load it up with Australian or American money, can I still use it at an ATM in Brazil ie: will the machine convert my money and give out Brazilian Real? Thank-you.
Hi Emma,
Thanks for your question.
Yes you can still use an ATM in Brazil, just make sure it displays the same symbol on your card (Mastercard/Visa/Amex etc). Usually the ATM gives out the local currency as well.
Please note a currency conversion fee could apply, because you don’t have the preloaded currency read in your card.
Cheers,
Shirley
Hi Paul,
This is not correct. You will be charged a currency conversion fee regardless of whether your account is in a positive balance. You can compare travel money options. These cards do not charge a currency conversion fee when you carry out a transaction in a currency other than Australian dollars.
Thanks for your question.
Cheers,
Jacob
i want know how can i get cash from my international credit card.
Hi Renotta,
Thanks for your question.
There are a couple of ways you can access cash from a credit card when you use it overseas – either you can withdraw it from an ATM, or you can use your card to make a purchase over the counter. Fees and charges will vary depending on how you use your card. If you are using your card to withdraw from an overseas ATM, you will incur cash advance interest rate, cash advance fee, international ATM fee, local ATM fee, and foreign currency conversion fee. These charges vary depending on the card and the ATM you use. Making a purchase over the counter is cheaper overseas and you just get charged the foreign currency conversion fee and the purchase rate of interest – excluding any interest-free days. There are cards that do not charge some of the fees listed above, you can check the fees in ‘fees table’ at the bottom of each card’s review and application page, and you can also compare travel money options.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I hope this helps.
Cheers,
Jacob