Avoid costly fees abroad using a credit card
If you’re planning a trip, or travel frequently, you’ll want a credit card that works well abroad.
What to look out for in a credit card if you’re using it when travelling:
Foreign transaction fees
Foreign transaction fees are what a financial institution charges you to withdraw money or pay for something abroad.
If you buy something you coulld be charged up to around 3% of the value of the purchase.
Conditions on cash withdrawals
Some cards may put a limit on how many times you can withdraw cash for free.
Most cards have a fee and will also charge interest for the amount you took out until you pay it back so APR rates are still very important when looking for the perfect travel credit card.
Interest on cash withdrawals
If you use a credit card to get cash out abroad you’ll be charged interest on the amount you took out until you pay it off.
When taking out a travel card look at each of these factors to make sure that you’re getting what’s right for you.
To get the best travel card with the best rates - you’ll need a good credit score.
Build your credit score to get the best credit card for travelling