Credit card for overseas travel - confusion re. fees

System

Card issuers have to split out the forex fee now.

Capital One did issue forex free versions of (various) cards but these versions are closed to new customers - therefore not so relevant to this thread.

Biggles wrote: »

Often, they just show the converted figure on your statement; they don't show that they've added 2.75% for themselves, just the figure that results.

fifeken

pjala wrote: »

The interest is at 12.9% per annum, and this works out at just over 1% per month.

Good write up, although I don't think 12.95% is available for new applicants.

BrokeInNYC

shadrach wrote: »

Thanks all, that helps explain things.

I did an eligibility check on the MBNA website for the Everyday Plus card and was rejected. Hopefully I will have more luck with the Halifax Clarity card.

I know this probably merits a separate thread, but what would be the obvious reasons for being rejected? Not having much of a credit rating by virtue of not having used a personal credit card in the past and not having borrowed (excluding student loan)?

My income is reasonable, 24k, and I have savings. The only other aspect that I was wary about when applying was my residential status. My parents own but don't actually live at the property and I pay a rent so I wasn't sure whether to put tenant or resident with parents - I put the latter. And then there's my age - are applicants in their mid-20s just rejected for many cards as a matter of course?

It sounds like you just don't have much of a credit history which is probably why you were rejected. It's not savings related or because you're in your mid-20's. You should be able to get something through your bank as an earlier poster suggested since you don't need much of a credit history to be approved for those.

macalloa

eDicky wrote: »

For alternatives to credit cards for overseas use, fee-free and interest-free, have a look at the N&P BS debit card and the Revolut prepaid MasterCard:

http://www.nandp.co.uk/

https://revolut.com/

Metrobank issues a debit card that's fee-free in Europe


I use all of these. Never rely on only one source of funds when traveling.

Hi there - is there anything to be gained by having the Revolut card as well as the N&P and/or MetroBank debit card(s) ?

Revolut can only be funded by a debit card, so linking it to the N&P or MetroBank debit card seems a pointless exercise.

Maybe I've missed something important in the factors in this equation ?

eDicky

macalloa wrote: »

Revolut can only be funded by a debit card, so linking it to the N&P or MetroBank debit card seems a pointless exercise.

You're right, it would be pointless. I use the N&P card directly for payments and withdrawals. Revolut can also be loaded by bank transfer and is useful for sending money in EUR and USD without fees, as well as for travel.

macalloa

eDicky wrote: »

You're right, it would be pointless. I use the N&P card directly for payments and withdrawals. Revolut can also be loaded by bank transfer and is useful for sending money in EUR and USD without fees, as well as for travel.

Thanks for that. I have a Revolut card, only used it the once, was thinking about binning it.

Must look at the bank transfer option.

eDicky

macalloa wrote: »

Hi there - is there anything to be gained by having the Revolut card as well as the N&P and/or MetroBank debit card(s) ?

Yes, less chance of being stuck without funds when traveling. No card is 100% reliable and proof from loss or theft. I have a Clarity card as well, the more options the better as long as they cost nothing...

macalloa

The MetroBank fee free debit card within Europe is a great deal, especially as there is no minimum monthly funding deposit required, or a minimum 2 direct debits from the linked current account.

Incidentally, I believe Metrobank do not include Turkey within Europe for some reason ?

The only drawback (and it's a major restriction) is that they require applications to be made in person at one of MetroBank's branches - and these are all in London and surrounding counties - tough if you live elsewhere !!!

Marcio45

Got a couple of cards for travelling:

Aqua Advance for purchases abroad, as there is no non sterling fees to pay. You spend 100 euros and thats what you pay back (currency exchange at banks rate), nothing more. Be aware that Aqua classic card does not have this perk, but only the Advance and Rewards cards.

Revolut card for wihdrawals. You just top up money in sterling from a debit card on a phone app and convert it to the currency you desire (like USA or Euros). Again, no extra fees charged. It used to have no limit but now you only get £500 worth of currency withdrawals free of charges per month. After £500 they charge a fee.

PeacefulWaters

macalloa wrote: »

Incidentally, I believe Metrobank do not include Turkey within Europe for some reason ?

That's because the overwhelming majority of its landmass is in Asia.