Tesco bank foreign transaction fee

Richard_1986

I'm wanting to use my Tesco credit card in Orlando I understand there is a 2.75% fee is this on the amount you spend in dollars or once it's converted into pounds planning to spend £3k so worked out the fee would be £82.50 is this correct

Thanks

cymruchris

Richard_1986 said:

I'm wanting to use my Tesco credit card in Orlando I understand there is a 2.75% fee is this on the amount you spend in dollars or once it's converted into pounds planning to spend £3k so worked out the fee would be £82.50 is this correct

Thanks

Is there a reason why you particularly want to use the Tesco credit card overseas? There are many better options that would give you far better value. (Even if you didn't want to/couldn't apply for another credit card).

Barclaycard Rewards/Halifax clarity are two cards that allow you to complete eligibility checks and wouldn't charge you for overseas purchases or cash withdrawals. If you didn't want to go down the credit card route - there's the Chase current account that offers similar fee free purchases.

In answer to your question - if there's a fee of 2.75% on purchases - then for every £100 you spend - the fee is £2.75. So £3000 would be £82.50 as  you've correctly calculated.

Richard_1986

Thank you so it's on pounds not dollars. My Tesco has the biggest limit so that's why I'm using that one

cymruchris

Richard_1986 said:

Thank you so it's on pounds not dollars. My Tesco has the biggest limit so that's why I'm using that one

Have you tried eligibility checkers for 'fee-free' international transactions? (Such as the Barclaycard Reward/Halifax Clarity) - it may be that you're not eligible at the moment - but worth a look if it means it saves you a few pounds?

The Chase current account is also fee-free - but you'd be using your own funds rather than the credit card then.

Are you in a position where you're thinking to repay the card from savings on your return? Or over a period of time?

Richard_1986

cymruchris said:

Richard_1986 said:

Thank you so it's on pounds not dollars. My Tesco has the biggest limit so that's why I'm using that one

Have you tried eligibility checkers for 'fee-free' international transactions? (Such as the Barclaycard Reward/Halifax Clarity) - it may be that you're not eligible at the moment - but worth a look if it means it saves you a few pounds?

The Chase current account is also fee-free - but you'd be using your own funds rather than the credit card then.

Are you in a position where you're thinking to repay the card from savings on your return? Or over a period of time?

Yeah I have a Barclaycard rewards card but the limit is not enough I'm paying it back when I return from savings I'm happy to pay the 2.75%

cymruchris

Richard_1986 said:

cymruchris said:

Richard_1986 said:

Thank you so it's on pounds not dollars. My Tesco has the biggest limit so that's why I'm using that one

Have you tried eligibility checkers for 'fee-free' international transactions? (Such as the Barclaycard Reward/Halifax Clarity) - it may be that you're not eligible at the moment - but worth a look if it means it saves you a few pounds?

The Chase current account is also fee-free - but you'd be using your own funds rather than the credit card then.

Are you in a position where you're thinking to repay the card from savings on your return? Or over a period of time?

Yeah I have a Barclaycard rewards card but the limit is not enough I'm paying it back when I return from savings I'm happy to pay the 2.75%

If they're easy access savings - can you not spend on the Barclaycard - and pay it off as you go along? (You could ask in the Barclaycard app for a limit increase as well - it doesn't affect your credit history if you ask and it gets declined - you might get something closer to where you need it to be?)

I'd look at all options rather than relying on the Tesco card - but it is your trip (You do have a backup plan if the Tesco card is blocked/lost/stops working?)

born_again

It is worked at at point of debit, not point of purchase.