Travel Card or Credit Card?

[Austashes]

Recently NAB sent me a letter stating that they were going to start charging $6 for international credit card transfers. Hmmm and I am about to embark on a world trip. NAB suggested that I get a Travel card (cost $15) - usual rap you load your Australian currency, get to choose 6 different currencies and then you only have to pay international ATM fees. But then I notice that after the first use it costs 1% to reload the card. Look into the finer detail for each bank's charges.

Knowing that Banks :evil: always look after their customers I did a search and found the 28 Degrees MasterCard supplied by GE Money/Westpac which has no international transaction fees, no currency conversion fees and no annual fee, BUT no loyalty flyer plan.

I am not in anyway a part of the 28 degree marketing program, but by my calculations I have to be ahead. The only thing i'm not sure of is if I actually go into credit with the card and withdraw cash do I get charged the interest? I will post back when I know.

 

[markis10]

Plenty of discussions here on the various options, Citibank have a non credit option as do ING! No one is advocating travel cards!

 

[Simo]

IMHO have a look over the many threads and there is many minus and negatives with this topic.

And then do some research.

A lot of AFFer's like 28 Deg due to the int options.

Maybe just use 28 deg when overseas.

 

[Alanslegal]

I am not in anyway a part of the 28 degree marketing program, but by my calculations I have to be ahead. The only thing i'm not sure of is if I actually go into credit with the card and withdraw cash do I get charged the interest? I will post back when I know.

Look at your T&C's carefully; if your card is in credit then you will not be charged any interest however if you withdraw cash you may still incur a cash withdrawal fee, generally as a fixed % of the amount being withdrawn. Then if its overseas, a foreign conversion fee.

Nothing beats the 28degrees from a purely foreign exchange and cash withdrawal point of view.

 

[serfty]

For all you ever wanted to (or didn't) know about the 28° Mastercard (including 'user guides'), see here:

http://www.australianfrequentflyer..../28-wizard-mastercard-cash-advances-6960.html

 

[AVC]

A 1% fee to charge or relaod the NAB travel card may seem cheap compared to their 2.5% Overseas transaction fee, but the NABs exchange rate sucks as well, so you take a double hit.

 

[Austashes]

Thanks all, a lot of information re Credit cards. I wonder if anyone thinks that these Travel Cards are worth the expense over convenience. It is funny that over half the people I talk to ask if I am getting a Travel Card for cash, only one person feels that it's a good deal. I would be interested if anyone has experience with them? Thx.

 

[casanovawa]

I've gone the Citibank Visa Debit Card, better read over the T&Cs i suppose just to know what i will and won't get charged for as i was just going to load it up and take money out of ATMs overseas, so i take it no foreign currency conversion fees but will there be a cash advance fee???

 

[DeKa]

I've gone the Citibank Visa Debit Card, better read over the T&Cs i suppose just to know what i will and won't get charged for as i was just going to load it up and take money out of ATMs overseas, so i take it no foreign currency conversion fees but will there be a cash advance fee???

How can there be a cash advance fee on a visa debit card? Visa debit by definition uses your own cash, so the answer is no.

 

[Doug_Westcott]

Depends on the Bank, but you will probably get charged a fee for using an Overseas ATM (in addition to what the actual ATM operator may charge) and Overseas Transaction fee

 

[Ghostdunks]

I've gone the Citibank Visa Debit Card, better read over the T&Cs i suppose just to know what i will and won't get charged for as i was just going to load it up and take money out of ATMs overseas, so i take it no foreign currency conversion fees but will there be a cash advance fee???

Is this Citibank Visa Debit Card part of the Citibank Plus Transaction account? Otherwise, I think it will charge foreign currency conversion fees as the only cards on the market that I know of that don't are:

- NAB Gold Debit Visa (to be withdrawn from market)
- Citibank Plus Transaction - Visa Debit
- ING Orange Direct Visa Debit
- 28 Degrees credit card