Get the Most out of Going Overseas with the Right Credit Card
International travel is exciting – the chance to explore a new destination, indulge in local cuisine and become immersed in a different culture. When you’re booking your snorkeling or skiing adventure, dinner out, hotels or tours, making sure the right credit card is handy on your overseas trip should be part of your planning. It can save you money and help you make the most of every minute of your time away.
The credit card you chose to use every day in Australia may not be the best one for overseas travel. In fact, you may find some credit cards impose fees that you are not charged at home. On the other hand, the right card could also have benefits that come in handy when away.
Here are some fees that you might not know about, but can incur with many cards.
International Transaction Fees/Overseas Purchase Fees / Foreign Transaction Fees /–
These fees are sometimes called different names, but are charged for using your credit card in a “foreign” currency. You don’t even have to physically be overseas to be charged an overseas purchase fee; using your credit card online to buy something from another country in another currency can result in the fee as well. Some banks will even charge you a fee for an Australian dollar purchase made overseas.
Either way, you may be charged up to 3.5% of the cost of every item you buy, whether you are on holiday or on your couch. That’s why carrying the 28 Degrees Platinum Mastercard is a great travel companion, because you won’t pay any overseas or foreign transaction fees on purhases! On AUD$10,000, that could save you up to $350 in fees.
You also get the benefit of the Mastercard Global Exchange Rate on all your purchases when you choose to use the 28 Degrees card. Here’s a link to check the current exchange rates: https://www.mastercard.com/global/currencyconversion/
Currency Conversion Fees –
The currency conversion fee is a term that is sometimes used interchangeably with “foreign transaction fee,” but there is a difference. While the foreign transaction fee is charged by the bank, the currency conversion fee is charged by a third party (the merchant or shop you’re in). You can be charged for both the foreign transaction fee and the currency conversion fee on the same purchase, and that can add up. With the 28 Degrees card, you’re already avoiding the foreign transaction fee, and merchants must offer you the opportunity to state which currency you will be charged in at point of sale: your own currency or the local currency. Choosing to pay via local currency allows you to bypass currency conversion fees entirely, so just say no – select to pay using local currency - to save more while on holiday.
Access to a free travel buddy –
Having someone help you research and book can be a real plus when planning a trip or can be a great help when you’re already overseas! Through the 28 Degrees Platinum Mastercard Concierge Service, we can help you with flights, hotels, local spots for food and entertainment as well as securing great deals too. And don’t worry about time zones, we’re open 24/7!
Safety and security –
Of course everyone wants their card to be safe and secure whether at home or away. Your 28 Degrees card offers full protection with the Mastercard $0 liability guarantee. You’re protected if any unauthorised transactions are made on the card, regardless of where the transactions took place; in a store, over the phone, online, via a mobile device or at an ATM, you will be protected. See full terms & conditions here.
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