Search and compare credit cards for travel

Choosing the best credit card for travel is a subjective decision. What might be fitting for one person may not be ideal for another. Rates, benefits, fees and features can vary depending on the type of card you choose.

While a particular credit card might be optimal when travelling, it may not stack up against other cards when it comes to everyday use. Selecting a card simply because it possesses an attractive feature may not be the most sensible decision. Exploring and researching a variety of options may assist you in selecting the credit card that’s best for you.

Travel credit cards offer rewards and benefits tailored to travellers. These cards are designed to provide perks such as airline miles, hotel points, and other travel-related rewards when you use the card for eligible purchases. Travel credit cards often come with additional features such as travel insurance, airport lounge access, concierge services, and no foreign transaction fees.

Yes, most Australian-issued credit cards are widely accepted internationally.

Many credit cards include similar benefits to those purporting to be travel-specific cards. For this reason, it’s practical to compare a bunch of different cards to be sure you’re getting the most out of your purchases.

If you are going to use your everyday credit card when travelling, it’s helpful to keep a few things in mind:

• Foreign transaction fees: Check if your credit card charges foreign transaction fees. These fees are typically a percentage of each transaction made in a foreign currency, typically between 2-5%. If your card does have foreign transaction fees, they can add up quickly. Consider getting a credit card that waives these fees, especially if you are a frequent flyer and international traveller.
• Notify your bank: Before travelling, it's a good idea to inform your credit card issuer about your travel plans. This helps avoid any potential issues with your card being flagged for suspicious activity when used in a different location. Informing your bank in advance reduces the chances of your card being blocked or limited during your trip. You can often do this through your online banking portal or mobile app.
• Currency conversion: When you use your credit card abroad, the transaction amount will be converted from the local currency to your card's currency. Keep in mind that credit card companies often charge a foreign exchange fee for currency conversion. The exchange rate applied may not be the most favourable, so it's worth checking the fees and rates associated with your card.
• Acceptance and security: While major credit cards like Visa, Mastercard and American Express are widely accepted globally, it's a good idea to have a backup payment method, such as cash or a debit card, in case your credit card is not accepted at certain locations. Additionally, be cautious of card skimming and use your credit card in secure and reputable establishments to minimise the risk of fraud.
• Cash advances: Most credit cards allow you to withdraw cash advances from domestic and international ATMs but these transactions often attract fees and exorbitant interest charges. Unlike regular credit card purchases, cash advances do not afford an interest-free grace period. Interest starts accruing from the moment you make the cash withdrawal.

Ultimately, the benefits or drawbacks of using a travel credit card depend on your travel habits, spending patterns, and how well the card aligns with your needs. It's important to carefully consider the terms and conditions, rewards program, fees, and benefits before applying for a travel credit card to ensure it provides value for your specific circumstances.

When you use a credit card, you’re borrowing funds from a bank or financial institution. If you’d prefer to spend your own money overseas, you might prefer a travel debit card or travel money card.

The adequacy of travel insurance included with your credit card depends on various factors, including the specific coverage provided and your individual travel needs. Here are some points to consider:

• Coverage limits: Make sure the level of coverage for medical expenses, emergency evacuation, trip cancellation/interruption, lost baggage, and other key areas align with your needs. If the coverage limits are too low, you may need to consider supplemental travel insurance.
• Trip duration and destination: Check if the insurance will cover the full duration of your trips and the destinations you plan to visit. Some policies have restrictions regarding trip length or exclude certain regions, so ensure your travel plans fall within the policy's parameters.
• Pre-existing medical conditions: Be aware of any exclusions or limitations. Some credit card travel insurance policies may not provide coverage for pre-existing conditions or may have specific requirements to be eligible for coverage.
• Additional coverage: Consider any additional coverage needed beyond what your credit card offers. For example, if you are engaging in adventure sports, extreme activities, or have specific valuable items to protect, you may need specialised coverage that goes beyond what credit card insurance provides.
• Trip interruption and cancellation: Understand the circumstances under which your credit card travel insurance covers trip interruption or cancellation. Determine if the reasons that might cause you to cancel or interrupt your trip are included in the policy.
• Compare with standalone travel insurance: Standalone policies often offer more extensive coverage and customisation options, so it's worth comparing the two to determine which best suits your needs.

It's crucial to carefully review the terms and conditions, limitations, and exclusions of your credit card travel insurance policy to make an informed decision. If you have specific concerns or require comprehensive coverage, purchasing standalone travel insurance may be a more suitable option.