Velocity Global Wallet double points

[Nathant123]

Hi guys,

I'm going to be making a couple of fairly large international transactions which I was going to put through the Coles MasterCard but I'm wondering if it would be worthwhile utilising the global wallet feature of the Velocity card. I'll be making a purchase in US dollars and Israeli Shekel and saw that any foreign transactions that go through the card earn 2 points per dollar. I'm just not sure if I physically need to be overseas to take advantage of this or if its simply a matter of the purchase being charged in a foreign currency. My Velocity amex charges a conversion fee while the Coles card does not. I've heard a lot of bad things about these prepaid travel cards but it sounds like an effortless way of earning double points.

 

[serfty]

You should be able to use it - however, the exchange rates cost you at least 5 cents per 2 points (compared to Coles mastercard 0 cents per .87 points).

 

[Bagpuss]

Hi guys,

I'm going to be making a couple of fairly large international transactions which I was going to put through the Coles MasterCard but I'm wondering if it would be worthwhile utilising the global wallet feature of the Velocity card. I'll be making a purchase in US dollars and Israeli Shekel and saw that any foreign transactions that go through the card earn 2 points per dollar. I'm just not sure if I physically need to be overseas to take advantage of this or if its simply a matter of the purchase being charged in a foreign currency. My Velocity amex charges a conversion fee while the Coles card does not. I've heard a lot of bad things about these prepaid travel cards but it sounds like an effortless way of earning double points.

You need to get a Citibank Debit card which has one of the best exchange rates with no fees OR similar debit card products such as ING.

Sometimes it pays to have a more effective spend (which saves you money) than get hooked into points.

(I was warned off travel cards many years ago as they have a lot less protection against fraud than debit or debit cards, true or not.)