Travelling overseas can be exciting, but having a plan for accessing your money while abroad is crucial. One option is an international travel credit card.
What is an international travel credit card?
An international travel credit card typically offers features like low or no currency conversion fees, complimentary overseas travel insurance, and the ability to earn rewards or frequent flyer points. While you may not use all its features, having one can provide peace of mind while travelling.
International travel credit cards vs everyday credit cards
An everyday credit card can be used overseas but may not offer the same benefits as a travel credit card. For instance, an everyday card often has higher currency conversion fees, lacks travel insurance, and may not earn rewards points.
The main benefits of a travel credit card include saving money on currency conversion fees and enjoying travel perks such as airport lounge access, insurance, and faster airline status earning.
How to choose a credit card for international travel
When selecting a credit card for international travel, consider the following factors:
- Low or no currency conversion fees can save on typical travel expenses like accommodation and dining by avoiding high currency conversion fees.
- Check the annual fee for maintaining the account and whether you use it frequently or not.
- Complimentary overseas travel insurance policy may only be active if the card was used to pay for travel.
- Airport lounge access varies between cards, so consider how often and where you can use the lounges.
