visa travel money card review

Here Are the Four Best Travel Money Cards in 2024

François Briod

Co-Founder of Monito and money transfer expert, François has been helping Monito’s users navigate the jungle of money transfer fees, bad exchange rates and tricks for the last ten years.

Jarrod Suda

A writer and editor at Monito, Jarrod is passionate about helping people apply today’s powerful finance technologies to their lives. He brings his background in international affairs and his experiences living in Japan to provide readers with comprehensive information that also acknowledges the local context.

Links on this page, including products and brands featured on ‘Sponsored’ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.

From the multitude of bank fees and ATM charges to hidden currency conversion fees, there's no question that spending your money abroad while travelling can be costly — and that's saying nothing about the cost of the holiday itself!

As you prepare for your trip abroad, the golden rule is that you'll save the most money by using the local currency of your destination. This means withdrawing local cash at foreign ATMs and using a debit card to pay directly in the local currency. For example, if you're from the UK, using your bank's debit card that accesses your British pounds will likely lose you money to hidden fees at ATMs abroad and at local merchants.

In general, we rate Revolut as the best travel card all around. Its versatile account and card can be used to spend like a local pretty much anywhere in the world. ✨ Get 3 months of free Revolut Premium as a Monito reader with our exclusive link .

If you're from the EU, UK, or US, here are a few more specific recommendations to explore:

• Best for travelling from the UK: Chase
• Best for travelling from the US: Chime ®
• Best for travelling from the Eurozone: N26

If it's not possible for you to spend in the local currency when travelling abroad, then spending in your home currency while using a card that doesn't charge any hidden exchange rate markups from your bank (e.g. only the VISA or Mastercard exchange rates to convert currency) is still a good bet for most people.

In this guide, we explore cards that waive or lower ATM fees and that hold multiple currencies. Spend on your holiday like a local and enjoy peace of mind after each tap and swipe!

Best Travel Cards (And More!) at a Glance

Best travel money cards.

• 01. What is the best best multi currency card? scroll down
• 02. Are prepaid currency cards really it? scroll down
• 03. Monito's best travel money card tips scroll down
• 04. FAQ about the best travel cards scroll down

Revolut: Best All-Rounder

Revolut is one of the most well-known fintechs in the world because it offers services across Europe, the Americas, Asia, and Oceania.

• Trust & Credibility 8.9
• Service & Quality 7.9
• Fees & Exchange Rates 8.3
• Customer Satisfaction 9.4

Revolut is available in many countries. You can double-check if it's available in yours below:

Here's an overview of Revolut's plans:

Revolut Ultra is currently only available in the UK and EU.

Like Wise, Revolut converts your currency to the local currency of your travel destination at an excellent exchange rate (called the 'Revolut Rate', which, on weekdays, is basically on par with the rate you see on Google), making it a good way to buy foreign currency before travelling abroad. As always though, bear in mind that Revolut's exchange rates might be subject to change.

Revolut's Standard Plan only allows currency exchange at the base mid-market exchange rate for transfers worth £1,000 per month. ATM withdrawals are also free for the first €200 (although third-party providers may charge a withdrawal fee, and weekend surcharges may also apply). These allowances can be waived by upgrading memberships.

N26: Good Bank For EU Travellers

One of the most well-known neobanks in Europe, N26 and its debit card operate in euros only. However, N26 is a partner with Wise and has fully integrated Wise's technology so that you never have to pay foreign transaction fees on your purchases outside of the eurozone. While N26 does not have multi-currency functionality, N26 will apply the real exchange rate on all your foreign purchases and will never charge a commission fee — making N26's card a powerful card for EU/EEA residents who travel across the globe.

• Trust & Credibility 7.9
• Service & Quality 8.0
• Fees & Exchange Rates 9.3
• Customer Satisfaction 8.1

These are the countries in which you can register for an N26 account:

And here is an overview of the various plans and account:

This low-fee option for banking is also ideal for travellers who do not belong to a European bank but frequent the Eurozone. For example, N26 is available for residents and citizens of Switzerland, Norway, and other European Economic Area countries that do not run on the Euro.

These citizens, who are in close proximity to the Eurozone, will save each time they spend with an N26 card while in Europe. N26 provides three free ATM withdrawals per month in euros but does charge a 1.7% fee per ATM withdrawal outside of Europe.

Take a look at our guide to the best travel cards for Europe to learn more.

Wise: Best For Multi-Currency Balances

Load up to 54 currencies onto this card at the real exchange rate, giving you access to truly global travel.

• Trust & Credibility 9.3
• Service & Quality 8.9
• Fees & Exchange Rates 7.6
• Customer Satisfaction 9.6

These are the countries in which you can order a Wise debit card:

Unlike banks, credit unions, airport kiosks, and foreign ATMs, Wise is transparent about never charging a hidden exchange rate margin when you convert your home currency into up to 54 currencies. The live rate you see on Google or XE.com is the one you get with Wise.

An industry-low commission fee per transaction will range from 0.35% to 2.85%, depending on the currency.

Chase: Great UK Bank For Travel

A recent arrival from the USA, Chase is one of the UK’s newest digital challenger banks and comes with a rock-solid reputation and no monthly charges, no currency conversion charges, no withdrawal fees, and no other charges for everyday banking from Chase. It’s a simple, streamlined bank account with an excellent mobile banking app and a great cashback offer. However, it doesn’t yet offer more advanced features like international money transfers, joint accounts, business banking, overdrafts and loans, and teen or child accounts.

• Trust & Credibility 10
• Fees & Exchange Rates 10
• Customer Satisfaction 8.7

Chime: Great Account For US Travelers

Chime  is a good debit card for international travel thanks to its no foreign transaction fees¹. Unlike multi-currency accounts like Revolut (which let you hold local currency), Chime uses the live exchange rate applied by VISA. This rate is close to the mid-market rate, and Chime does not add any extra markup to your purchases, although out-of-network ATM withdrawal and over-the-counter advance fees may still apply.

• Trust & Credibility 9.5
• Service & Quality 8.8
• Fees & Exchange Rates 9.8

While Chime waives ATM fees at all MoneyPass, AllPoint, and VISA Plus Alliance ATMs within the United States, this fee waiver does not extend to withdrawals made outside the country. For withdrawals abroad, Chime applies a $2.50 fee per transaction, with a daily withdrawal limit of $515 or its equivalent. This is in addition to any fees charged by the ATM owner. Therefore, we recommend Chime primarily for card purchases rather than relying on it for withdrawing cash while traveling internationally.

• No  foreign transaction fees ¹;
• Uses VISA's exchange rate ( monitor here ):
• A $2.50 fee per ATM withdrawal made outside of the United States;
• More info:  Read our  Chime review  or  visit their website .

Best Travel Money Cards in 2024 Compared by Country

In the table below, see our comparison summary of the four best travel cards for 2024 by country:

Last updated: 8 January 2024

What's The Best Prepaid Card to Use Abroad?

Travel cards come in many varieties, such as standard credit cards or debit cards with no foreign transaction fees or cards that waive all foreign ATM withdrawal fees.

What is a Multi-Currency Card?

Multi-currency cards are a specific type of travel card that allows you to own all kinds of foreign currencies, which you can instantly access when you pay with your card abroad. By spending the local currency in the region of travel , you bypass poor foreign exchange rates. ATMs and cashless payment machines will treat your card like a local card.

We have already mentioned a few multi-currency cards in this review, but we will also introduce Travelex . Travelex's Money Card also allows you to top up several foreign currencies — albeit at exchange rates slightly poorer than the real mid-market rate .

Wise Account

Wise has one of the best multi-currency cards available on the market.

Read our full review for more details.

Revolut is impressive for its vast options in currencies and its additional services.

Our in-depth review explores Revolut's services in detail.

Travelex offers a prepaid travel money card that supports 10 currencies and waives all ATM withdrawal fees abroad.

• Trust & Credibility 9.0
• Service & Quality 5.8
• Fees & Exchange Rates 7.1
• Customer Satisfaction 9.3

Travelex charges fees, which fluctuate according to the exchange rates of the day, in order to convert your home currency into the currencies that it supports. But once the currency is on the card, you'll be able to spend like a local. Learn more with our full review .

Don’t Let Banks, Bureaux de Change, and ATMs Eat Your Lunch 🍕!

Are you withdrawing cash at an ATM in the streets of Paris? Exchanging currencies at Gatwick airport? Paying for a pizza with your card during a holiday in Milano? Every time you exchange currencies, you could lose between 2% to 20% of your money in  hidden fees . Keep reading below to make sure you recognize and avoid them.

Currency Exchange Fees Eating My Lunch? What’s That?

You’re often charged a hidden fee in the form of an alarming exchange rate.

At any given time, there is a so-called “ mid-market exchange rate ” — this is the real exchange rate you can see on  Google . However, the money transfer provider or bank you use to exchange currencies rarely offers this exchange rate. Instead, you will get a much worse exchange rate. They pocket this margin between the actual rate and the poor exchange rate they apply, allowing the bank or money transfer provider to profit from the currency exchange. 

In other words, you or your recipient will receive less foreign currency for each unit of currency you exchange. All the while, the provider will claim that they charge zero commission or zero fees.

So the question now is… how can you avoid them? Thankfully, the best travel money cards will allow you to hold the local currency, which you can access instantly with a tap or swipe. Carrying the local currency avoids  exchange rate margins  on every purchase.

Top Travel Money Tips

• Avoid bureaux de change. They charge between 2.15% and 16.6% of the money exchanged.
• Always pay in the local currency and never accept the  dynamic currency conversion .
• Don't use your ordinary debit or credit card unless it's specifically geared toward international use. Doing this will typically cost you between 1.75% and 4.25% per transaction. Instead, use one of the innovative travel money cards below.

By opting for a travel card without FX fees, you can freely swipe your card abroad without worrying about additional charges. However, saving money doesn't stop there. To make the most out of your travel budget, consider using  Skyscanner , one of the most powerful flight search engines available that allows you to compare prices from various airlines and find the best deals.

With Skyscanner's user-friendly interface and comprehensive search options, you can discover cheap flights and enjoy your holidays with peace of mind and more money in your pocket.

Best Travel Money Card Tips

When you convert your home currency into a foreign currency, foreign exchange service providers will charge you two kinds of fees :

• Exchange Rate Margin:  Providers apply an exchange rate that is poorer than the true  "mid-market" exchange rate . They keep the difference, called an  exchange rate margin .
• Commission Fee:  This  fee  is usually a percentage of the amount converted, which is charged for the service provided.

With these facts in mind, let's see what practices are useful to avoid ATM fees, foreign transaction fees, and other charges you may encounter while on your travels.

Tip 1: While Traveling, Avoid Bureaux de Change At All Costs

Have you ever wondered how bureaux de change and currency exchange desks are able to secure prime real estate in tourist locations like the Champs-Élysées in Paris or Covent Carden in London while claiming to take no commission? It’s easy: they make (plenty of) money through hidden fees on the exchange rates they give you. 

Our study shows that Bureaux de Change in Paris charges a margin ranging from 2.15% at CEN Change Dollar Boulevard de Strasbourg to 16.6% (!!) at Travelex Champs-Élysées when exchanging 500 US dollars into euros for example. 

If you really want cash and can’t wait to withdraw it with a card at an ATM at your destination, ordering currencies online before your trip is usually cheaper than exchanging currencies at a bureau de change, but it’s still a very expensive way to get foreign currency which we, therefore, would not recommend.

Tip 2: Always Choose To Pay In the Local Currency

Don’t fall for the dynamic currency conversion trap! When using your card abroad to pay at a terminal or withdraw cash at an ATM, you’ve probably been asked whether you’d prefer to pay in your home currency instead of the local currency of the foreign country. This little trick is called dynamic currency conversion , and the right answer to this sneaky question will help you save big on currency exchange fees.

As a general rule, you always want to pay in the local currency (euros in Europe, sterling in the UK, kroner in Denmark, bahts in Thailand, etc.) when using your card abroad, instead of accepting the currency exchange and paying in your home currency. 

This seems like a trick question - why not opt to pay in your home currency? On the plus side, you would know exactly what amount you would be paying in your home currency instead of accepting the unknown exchange rate determined by your card issuer a few days later.

What is a Dynamic Currency Conversion?

However, when choosing to pay in your home currency instead of the local one, you will carry out what’s called a “dynamic currency conversion”. This is just a complicated way of saying that you’re exchanging between the foreign currency and your home currency at the exact time you use your card to pay or withdraw cash in a foreign currency, and not a few days later. For this privilege, the local payment terminal or ATM will apply an exchange rate that is often significantly worse than even a traditional bank’s exchange rate (we’ve seen margins of up to 8%!), and of course, much worse than the exchange rate you would get by using an innovative multi-currency card (see tip #3). 

In the vast majority of times, knowing with complete certainty what amount you will pay in your home currency is not worth the additional steep cost of the dynamic currency conversion, hence why we recommend always choosing to pay in the local currency.

Tip 3: Don't Use a Traditional Card To Pay in Foreign Currency/Withdraw Cash Abroad

As mentioned before, providers make money on foreign currency conversions by charging poor exchange rates — and pocketing the difference between that and the true mid-market rate. They also make money by charging commission fees, which can either come as flat fees or as a percentage of the transaction.

Have a look at traditional bank cards to see how much you can be charged in fees for spending or withdrawing $500 while on your holiday.

These fees can very quickly add up. For example, take a couple and a child travelling to the US on a two-week mid-range holiday. According to this study , the total cost of their holiday would amount to around $4200. If you withdraw $200 in cash four times and spend the rest with your card, you would pay $123 in hidden currency exchange and ATM withdrawal fees with HSBC or $110 with La Banque Postale. With this money, our travellers could pay for a nice dinner, the entrance fee to Yosemite Park, or many other priceless memories. 

Thankfully, new innovative multi-currency cards will help you save a lot of money while travelling. Opening an N26 Classic account and using the N26 card during the same US holidays would only cost $13.60.

Need Foreign Cash Anyway?

In many countries, carrying a wad of banknotes is not only useful but necessary to pay your way since not every shop, market stall, or street vendor will accept card payments. In these cases you'll have two options to exchange foreign currency cheaply:

1. Withraw at an ATM

As we've explored in great depth in this article, withdrawing money from a foreign ATM will almost always come with fees — at the very least from the ATM itself, and so it's therefore the best strategy to use a travel debit card that doesn't charge in specific ATM withdraw fees on its own to add insult to injury. That said, if you need cash, we recommend making one large withdrawal rather than multiple smaller ones . This way, you'll be able to dodge the fees being incurred multiple times.

2. Buy Banknotes (at a Reasonable Rate!)

As we've also seen, buying foreign currency at the airport, at foreign bank branches, or in bureaux de change in tourist hotspots can be surprisingly expensive. Still, not all exchange offices are equally pricey . If you're looking for a well-priced way to exchange your cash into foreign currency banknotes before you travel, Change Group will let you order foreign currency online and pick them up at the airport, train station, or a Change Group branch just before you leave for your holiday. A few pick-up locations in the UK include:

• London centre (multiple locations),
• Glasgow centre,
• Oxford centre,
• Luton Airport,
• Gatwick Airport,
• St. Pancras Station.

(Note that Change Group also has locations in the USA, Australia, Germany, Spain, Sweden, Austria, and Finland!)

Although its exchange rates aren't quite as good as using a low-fee debit card like Revolut, Change Group's exchange rates between popular currencies tend to be between 2% to 3%, which is still a lot better than you'll get at the bank or at a touristy bureau de change in the middle or Paris or Prague!

FAQ About the Best Travel Money Cards

Having reviewed and compared several of the industry's leading neobanks, experts at Monito have found the Wise Account to offer the best multi-currency card in 2024.

In general, yes! You can get a much better deal with new innovative travel cards than traditional banks' debit/credit cards. However, not all cards are made equal, so make sure to compare the fees to withdraw cash abroad, the exchange rates and monthly fees to make sure you're getting the best deal possible.

• Sign up for a multi-currency account;
• Link your bank to the account and add your home currency;
• Convert amount to the local currency of holiday destination ( Wise and Revolut convert at the actual mid-market rate);
• Tap and swipe like a local when you pay at vendors.

Yes, the Wise Multi-Currency Card is uniquely worthwhile because it actually converts your home currency into foreign currency at the real mid-market exchange rate . Wise charges a transparent and industry-low commission fee for the service instead.

More traditional currency cards like the Travelex Money Card are good alternatives, but they will apply an exchange rate that is weaker than the mid-market rate.

The Wise Multi-Currency Card is the best money card for euros because unlike banks, credit unions, airport kiosks, and foreign ATMs,  Wise  is transparent about never charging a hidden exchange rate margin when you convert your local currency into euros with them.

The live rate you see on Google or XE.com is the one you get with  Wise . An industry-low commission fee will range from 0.35% to 2.85%. USD to EUR transfers generally incur a 1.6% fee.

Learn more about how to buy euros in the United States before your trip.

There are usually three types of travel cards, prepaid travel cards, debit travel cards and credit travel cards. Each have pros and cons, here's a short summary:

• Prepaid travel cards: You usually need to load cards with your home currency via a bank wire or credit/debit card top-up. You're then able to manage the balance from an attached mobile app and can use it to pay in foreign currencies or withdraw cash at an ATM abroad tapping into your home currency prepaid balance. With prepaid travel cards, as the name indicates, you can't spend more than what you've loaded before hand. Some prepaid card providers will provide ways to "auto top-up" when your balance reaches a certain level that you can customize. On Revolut for example, you can decide to top-up £100/£200/£500 from your debit card each time your balance reaches below £50.
• Debit travel cards: Some innovative digital banks, like N26 or Monzo, offer travel debit cards that have the same advantages than a Prepaid Travel Cards, except that they're debit card directly tapping into your current account balance. Like a Prepaid travel card, you can't spend more than the balance you have in your current account with N26 or Monzo, but you can activate an overdraft (between €1,000 or €10,000 for N26 or £1,000 for Monzo) if you need it, for a fee though.

Note that even if they're Prepaid or Debit cards, you can use them for Internet payments like a normal credit card.

• Credit travel cards: You can find credit cards made for international payments offering good exchange rates and low fees to withdraw money abroad, but you'll need to pay interests in your international payment if you don't pay in FULL at the end of every month and interest on your ATM withdrawals each day until you pay them back.

Why You Can Trust Monito

Our recommendations are built on rock-solid experience.

• We've reviewed 70+ digital finance apps and online banks
• We've made 100's of card transactions
• Our writers have been testing providers since 2013

Other Monito Guides and Reviews on Top Multi Currency Cards

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

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Monito's experts spend hours researching and testing services so that you don't have to.

Our recommendations are always unbiased and independent.

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The 6 Best Travel Money Cards for Travelling Overseas 2024

If you’re planning on travelling overseas, getting a travel money card can help you cut the costs usually involved in spending foreign currencies.

Travel money cards can include travel debit, prepaid and credit cards, which each work slightly differently, but which all come with features optimised for reducing the costs of spending and withdrawing cash overseas. This guide covers everything there is to know about the different travel card categories, plus we’ll introduce 6 of our top travel card picks so you can see if any suit you.

Wise - our pick for travel debit card when travelling overseas

Wise accounts can hold and exchange 40+ currencies, and you can get a linked Wise card for a one time delivery fee. Top up your account in GBP and switch to the currency of your choice before you travel. All currency conversion uses the mid-market exchange rate, with low fees from 0.41%. Here are some of the pros and cons of the Wise travel money debit card, to help you decide if it’s right for you.

Hold and exchange 40+ currencies

No fee to spend any currency you hold, low conversion fees from 0.41%

Mid market exchange rate on all currency conversion

Some fee free ATM withdrawals every month

No ongoing fees and no interest to pay

7 GBP delivery fee

No option to earn points or rewards

Click here to read a full Wise review

What is a travel money card?

Travel money cards work much like any other credit or debit card you might have, but are designed to be easy to use when you’re overseas or spending in a foreign currency. You’ll be able to use a travel money card to spend and make ATM withdrawals while you’re travelling abroad, or when you shop online with foreign retailers. Most cards have contactless technology and can also be added to a wallet like Apple Pay for mobile spending, too.

The features you get with a travel money card can vary a lot, but you’ll often find you can hold a balance in multiple currencies, pay low or no foreign transaction fees, or earn cash back and rewards overseas.

What are different types of travel cards?

Travel cards can broadly be split into the following categories. We’ll walk through the features and benefits of each in a moment:

Travel debit cards

Travel prepaid cards

Travel credit cards

Quick summary: Best travel cards for travelling overseas

UK customers can pick from a good selection of different travel card types and providers. This guide includes an overview and in detail reviews of 2 of our favourites from each travel card category to help you choose. Here’s what we’ll be looking at:

Wise travel debit card : Hold 40+ currencies with no ongoing fees, and spend with the mid-market exchange rate with no foreign transaction fee and low conversion costs from 0.43%

Revolut travel debit card : Hold 25+ currencies in one of 4 different plan types, including some with no monthly fee, and some which come with ongoing costs but which unlock more benefits and no fee transactions

Post Office travel money card : Hold 22 currencies, with no fee to spend a currency you hold - 3% fee applies if you don’t have the currency required in your account

Monese travel money card : Hold a balance in GBP, then spend in foreign currencies with no fees, up to your plan’s limit. Different plans on offer, including Simple which has no ongoing fees to pay

Barclays Rewards Visa travel credit card: Spend with the Visa exchange rate, and earn 0.25% cash back, with no foreign transaction fee and no cash advance fee. Interest and penalties can apply

Halifax Clarity Mastercard travel credit card: No foreign transaction fee, no annual fee, and no cash advance fee if you withdraw money at an ATM. Variable interest and penalties can apply

Travel money cards for travelling overseas compared

Here’s a brief comparison of all the cards we’ve picked out - in a moment we’ll also look at each card in more detail.

The good news is that you’ve got lots of different travel cards available in the UK, from specialist providers, banks and card issuers. The right one for you will depend a lot on the way you like to manage your money - but by doing a bit of research you’ll be able to find a good match for your preferences, even travel cards with no foreign transaction fees .

Generally, travel debit cards can be cheap and flexible, but you’ll need to have your travel money saved in advance, so you can top up your account. Credit cards have the advantage that you can spend now and repay later - but are usually more expensive overall between interest and fees. This guide walks through some key points about each of these travel money card types, and proposes a couple of options you might want to check out and compare.

Travel Debit Cards for travelling overseas

Travel debit cards can be ordered online from specialist providers, and are usually linked to a digital multi-currency account. Add money to your account in GBP and then you can either convert to the currency you need in your destination if the card supports it, or just leave your money in pounds so the card’s autoconvert technology can do the conversion for you at the point of payment.

Travel debit cards are generally cheap, secure and reliable, but the exact range of supported currencies, and the way the card fee structure works, can vary a bit depending on the provider you select.

Travel debit card option 1: Wise

There’s no fee to open a personal Wise account , but you’ll pay a one time card order fee of 7 GBP. After that there’s no minimum balance and no monthly charge. Wise accounts can support 40+ currencies for holding and exchange, with low fees from 0.43% when you convert currencies, and transparent ATM fees when you exhaust the monthly free transactions available with your account. If the Wise card can’t support the currency you need to spend in your destination, you can just leave your money in pounds and the card will convert for you at the point of payment.

No fee to open a personal Wise account, no minimum balance requirement

7 GBP one time fee to get your Wise card

2 withdrawals, to 200 GBP value per month for free, then 0.5 GBP + 1.75%

Hold 40+ currencies, convert between them with the mid-market rate

Get local account details to receive GBP, NZD, EUR, USD and a selection of other major currencies conveniently

Travel debit card option 2: Revolut

Revolut has a selection of different account tiers for personal customers in the UK, from Standard plans with no monthly fee, to the top end Ultra plan which has a 45 GBP/month fee and comes with loads of perks including a fancy platinum plated card. You can hold around 25 currencies, and convert currencies with the mid-market rate to your plan’s allowance. The higher account tiers also come with extras like various different forms of complimentary insurance, discounts, cash back opportunities and travel benefits. If the currency you need can’t be held as a balance in your Revolut account you can still use your card to pay - just let the card do the conversion for you with the live rate at the time you transact, plus any applicable fair usage fee.

No monthly fee for a Standard Revolut account, or upgrade to one of 4 different account plans which have monthly fees running from 3.99 GBP/month to 45 GBP/month

All accounts have some no fee weekday currency conversion with fair usage fees after that which are 1% for Standard plan holders

Standard plan holders can withdraw 200 GBP overseas per month for free

Hold around 25 currencies

Pros and cons of using debit travel cards when travelling overseas

How much does a travel debit card cost.

Travel debit cards are usually free or cheap to order, and often offer low or no cost currency conversion.

To give an example - Wise has a one time fee to get your card, but then no monthly charges or minimum balance requirements. Currency conversion uses the mid-market exchange rate with low fees from 0.43%. Revolut has 4 different account plans, including one with no ongoing charges, or several different account options with a monthly fee in exchange for extra perks and benefits. Each account has some no-fee currency exchange, but fair usage fees of 0.5% - 1% apply if you exceed your allowance.

How to choose the best travel debit card for travelling overseas?

There’s no single best travel debit card for travelling overseas, the right one for you will depend a lot on the way you prefer to transact and manage your money.

The key things to consider include whether you’re happy to pay a monthly fee for a card or would prefer to have an option with no ongoing fees for occasional use. You’ll also want to look at the transaction costs you’ll need to pay, and what exchange rate is applied when converting currencies.

If you’re struggling to decide whether a travel debit card suits you, the Wise card and the Standard Revolut card both offer no ongoing costs, so are a fairly low risk and low commitment way to test out your options.

Is there a spending limit with a travel debit card when travelling overseas?  

You’ll probably find there’s a spending limit for your travel debit card. However, this limit can vary quite significantly, depending on the provider you pick. You can also usually adjust your spending limits for security in the provider’s app which means you can set the limit you’re comfortable with.

For the providers mentioned above, Revolut UK travel debit card holders have some spending caps based on merchant and transaction type. This applies to things like sending money to others, buying travellers cheques or money orders, and betting. Wise caps monthly card spending at 30,000 GBP but you can also move your limit lower if you’d like to, for security reasons.

ATM withdrawals

ATM withdrawals with a travel debit card are also likely to be subject to limits. Revolut applies a 3,000 GBP limit based on any given 24 hour period. Wise ATM withdrawal limits are 4,000 GBP per month. Both providers allow you to make some no fee ATM withdrawals monthly, but the exact amount you can withdraw will depend on your account type.

Prepaid Travel Cards for travelling overseas

[Prepaid travel cards] ( https://exiap.co.uk/guides/best-prepaid-travel-cards ) work in a similar way to travel debit cards, but may have slightly different features and charging structures. The way prepaid travel cards work varies - for example, with the Post Office Travel Money Card, you can collect your card in person at a branch and add any of 22 currencies to it for spending and withdrawals.

The Monese Travel Money Card only lets you hold GBP, EUR and RON, but allows you to spend in foreign currencies with no fees up to a limit specified in your account plan. This range of different functionalities means you can pick the card that works best for your specific needs.

Prepaid travel card option 1: Post Office Travel Money Card

You can order a Post Office Travel Money Card online or pick one up in person at a branch as long as you have a valid ID on you. You’ll be able to top up and hold in 22 currencies, although bear in mind a fee applies if you add money in GBP. There’s no fee to add foreign currencies. The exchange rate used when you top up or convert may include a markup, but once you hold a currency balance in your account you can spend it with no further charges.

22 currencies are supported for holding and exchange

No fee to spend a currency you hold on your card

3% cross border fee if you spend in an unsupported currency

Small ATM withdrawal fee which varies by currency withdrawn, about the equivalent of 1.5 GBP per withdrawal

Manage your account and card from the Post Office travel money app

Prepaid travel card option 2: Monese Travel Money Card

Monese offers several different account plans which come with linked cards you can use while overseas. Depending on the plan you pick you’ll get some free international spending and some free ATM withdrawals. Simple account plans have no monthly fees, but are more limited in terms of no-fee transactions compared to the other account tiers.

Pick the account plan that suits your needs, including a Simple plan with no monthly costs and some plans which do have a fee to pay every month

Accounts offered in GBP, EUR and RON

Simple account plan holders can spend up to 2,000 GBP a month in foreign currencies with no fees - other account plans have unlimited overseas spending with no extra fees

All accounts have some fee free ATM withdrawals every month, with variable limits based on account plan

Virtual cards available

Pros and cons of using prepaid travel cards when travelling overseas

How much does a prepaid card cost.

A prepaid travel card could help you save money compared to using a bank debit or credit card when you travel abroad, but the chances are there will still be a few fees to pay. That could be ongoing monthly fees, currency conversion charges, or fees when you top up, particularly if you top up in cash. Weighing up a few different prepaid travel cards is the only way to decide which is the best value for your particular needs.

How to choose the best travel prepaid card for travelling overseas?

The best prepaid travel card for travelling overseas depends on your spending patterns. The Post Office Travel Money Card has the advantage that you can convert your money to the currency you need in your destination and see your budget instantly. However if you don’t do this, you might end up paying a 3% fee. Monese has different plan types, so has the flexibility to allow you to pick the one you want - but you can’t hold a foreign currency balance aside from RON and EUR.

Prepaid travel card spending limit

The Post Office travel card lets you top up to 5,000 GBP at a time, with the maximum balance at any given time set at 10,000 GBP, or 30,000 GBP annually. Monese accounts may have different limits based on the tier you pick - usually set at a maximum holding balance at any time of 40,000 GBP. You may be limited to spending up to 7,000 GBP a day, depending on your account type.

With the Post Office card, you can make up to the equivalent of 300 GBP maximum daily withdrawals and each withdrawal costs the equivalent of 1.5 GBP. Monese accounts may have a maximum ATM withdrawal of 300 GBP a day, depending on the specific account you pick, so it’s worth reading the fee schedule carefully to understand the details.

Travel Credit Cards for travelling overseas

Travel credit cards are like other credit cards in that you’ll be set a spending limit which you can not exceed on a monthly basis. At the end of the month you’ll have to pay back your bill in full to avoid interest and penalties. When you spend overseas your foreign currency transaction is converted back to GBP to add to your monthly charge - often with a foreign transaction fee added, which can be around 3%. Travel credit cards often waive this foreign transaction fee, which makes them better value for foreign currency spending compared to other credit cards. However, as with any other credit card, you might find you have fees to pay in the form of interest, particularly if you use your card in an ATM, making this a relatively expensive way of managing your money internationally.

Travel credit card option 1: Barclaycard Rewards Visa 

The Barclaycard Rewards Visa credit card is a good, straightforward option for UK customers looking for a credit card which does not have foreign transaction fees, and which doesn’t have an annual fee. As with any credit card, some costs can apply including interest fees if you don’t clear your bill monthly, but you’ll be able to earn 0.25% cash back on all your card spending at home and abroad.

No annual fee, with 0.25% cash back on card spending

Currency exchange uses the network rate and no foreign transaction fee

No ATM withdrawal fee - but interest can still apply

28.9% representative APR, with penalty fees for late payments

Secure spending with extra protection on some purchases

Travel credit card option 2: Halifax Clarity Mastercard

The Halifax Clarity Mastercard has a variable interest rate which is based on your creditworthiness, but doesn’t use different rates for different transaction types as some cards do. There’s no foreign transaction fee when you spend or withdraw in foreign currencies, but bear in mind that an ATM operator might charge a fee, and interest accrues instantly for cash advance transactions.

No foreign transaction fee when spending or making a cash withdrawal overseas

Interest applies instantly when making cash withdrawals

Same interest rate applies on all purchase categories

Variable APR based on your credit score - you’ll need to check your eligibility online to see the APR you’d be offered

Spending is covered by the Consumer Credit act which means extra protections for purchases from 100 GBP to 30,000 GBP in value

Pros and cons of using credit cards when travelling overseas

How much does a travel credit card cost.

Credit cards are convenient and secure - but they’ll also often be the most expensive way to pay for things. That’s because you may end up paying an annual fee, interest costs, foreign transaction fees, cash advance charges, and penalties if you’re late to repay. The cards we’ve picked out above have the advantage that they have no annual fee, no foreign transaction fee and no cash advance fee - but if you use your card in an ATM you’ll start to accrue interest instantly, which does mean paying more in the end.

How to choose the best travel credit card for travelling overseas?

The best travel credit card for travelling overseas depends on your preferences and situation. Because there’s an eligibility screening process with credit cards, you may find you can’t get approved for some cards if you don’t have an established and strong credit history. It’s generally worth looking for a card with no annual fee, and the lowest available interest rate, just in case you can’t always repay your bill monthly.

Travel credit card spending limit

Your travel credit card spending limit will be set by the card provider, and will depend on your credit score. You’ll be shown details of your spending limit when you’re approved for a travel credit card.

The cards we’ve looked at earlier don’t charge a cash advance fee, but this is a common cost when using a credit card at an ATM, so worth looking out for when you select any credit card. It’s also worth noting that it’s very common for ATM withdrawals to start accruing interest instantly, so you’ll end up needing to repay some charges whenever you use your credit card in an ATM.

How much money do I need when travelling overseas?

Naturally, the costs of your trip can vary wildly depending on where you’re going, how long for, and what you’ll be up to during your holiday. Costs to consider when budgeting include:

Any visa fees, or travel health costs such as vaccinations, if required

Travel or medical insurance

Flights or other travel costs - don’t forget to buy baggage allowance in advance if you need it

Travel to and from the airport, or parking if you drive yourself

Local SIM or roaming data

Accommodation, plus any local tourist taxes

Food and drinks while you’re away

Activities and entry costs to tourist sites

Travel within the country - taxis or bus rides for example

Kennels or any other requirements to look after pets back home

Conclusion: Which travel money card is best for travelling overseas?

Travelling overseas is exciting but does need a bit of planning. In particular, working out how you’ll manage your money while you’re away is essential if you don’t want to get ripped off by poor exchange rates, pay high fees, or end up having a stressful time with money changers on arrival.

Travel cards can help you avoid all these potential pitfalls, manage your travel budget flexibly, and pay less for your trip in the end. Consider a Wise travel debit card for convenient, low cost spending and withdrawals with ways to pay and get paid in foreign currencies. Or as an alternative, check out a Monese travel prepaid card for free currency conversion to your specific plan limit, or a travel credit card like the Barclays Rewards Visa for cash back opportunities and ways to spread your costs over several months if you need to. No matter what type of travel card suits you best, there’s going to be an option for you - use this guide to figure out which is your perfect match, and your travel money could take you further in the end.

FAQ - Best travel cards for travelling overseas

Can you withdraw cash with a credit card when travelling overseas.

Yes. You can use your credit card to make an ATM withdrawal at any ATM where your card network is accepted when travelling overseas. However, bear in mind you’ll pay interest instantly when you use a credit card in an ATM. Choosing to withdraw with a low cost travel debit card from Wise or Revolut may bring down your overall fees.

Can I use a debit card when travelling overseas?

It’s unusual to find you can’t use a card to pay in tourist areas in more developed countries, towns and cities. However, card usage varies widely and in many places, cash is still king. Because of that, having multiple ways to pay is essential and carrying both a prepaid or travel debit card and some foreign currency in cash is a smart plan.

Are prepaid cards safe?

Yes. Prepaid cards are not linked to your normal UK bank account which means that they’re safe to use. Even if you were unlucky and someone stole your card while you're travelling overseas, they would not be able to access your main account - and you could freeze your prepaid card in the app easily if you needed to.

What is the best way to pay when travelling overseas?

Paying for things with a specialist travel debit, prepaid or credit card when travelling overseas is most convenient. However, having a few options for payment is a good plan, just in case your preferred payment method can’t be used for some reason. Consider getting a travel card from a provider like Wise or Revolut, which has some no fee ATM withdrawals so you can also conveniently get cash as a back up, and for when card payments aren’t offered.

• United States
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In this guide

Restrictions

Your reviews, ask a question.

• Wise Travel Money Card Review

This physical and virtual travel money card lets you hold over 40 currencies, with 2 free ATM withdrawals up to $350 a month and a one-time $10 activation fee.

Wise Travel Money Card supported currencies

• Australian dollars (AUD)
• Canadian dollars (CAD)
• Chinese yuan (CNY)
• Emirates dirham (AED)
• Euros (EUR)
• Great Britain pounds (GBP)
• Hong Kong dollars (HKD)
• Japanese yen (JPY)
• New Zealand dollars (NZD)
• Singapore dollars (SGD)
• Thai baht (THB)
• United States dollars (USD)

Complete list of supported currencies

You'll also typically be able to use the Wise Travel Money Card in most countries and regions around the world, with any business that accepts Mastercard/Visa. But places where your card won't work include Cuba, Iran, Iraq and Myanmar.

Features of the Wise Travel Money Card

• Support for over 40 currencies. The Wise Travel Money Card lets you hold and spend in a wide range of currencies, which can make it easier to keep track of your spending and budget.
• Competitive exchange rates. Wise uses the mid-market rate for exchanges so you get the same rate that's typically listed on Google, Bing and other search engines.
• 2 free ATM withdrawals per month. Wise won't charge an ATM when you withdraw up to AUD$350 over 2 or less transactions in a month. After that, you'll be charged fees worth AUD$1.50 and 1.75% of each withdrawal.
• Instant virtual cards. You can get up to 3 virtual cards linked to your Wise account to keep track of different types of spending. You'll also be able to start using your virtual card as soon as you've set up your account by adding it to Apple Pay or Google Pay.
• Plastic card. You'll also get 1 plastic card sent to you, which you can use for in-person payments anywhere Mastercard/Visa are accepted.
• Wise app. The Wise app lets you top up and convert currency in real time, so you know exactly how much you'll have in any of the supported currencies. You can also freeze your card, organise a new one and manage other account features.

How much does the Wise Travel Money Card cost?

• Application fee. A one-time $10 fee applies when you first get this Wise card.
• ATM fees. After the first $350 of withdrawals in a month, a fee of 1.75% applies. You'll also pay a $1.50 fee for each ATM withdrawal after the first 2 you make in a month.
• Load fees. There is no fee to load funds on by bank transfer from Australia. But a fee will be charged for loading funds by debit card, credit card or SWIFT. The exact fee will be shown on your Wise account when you select "Add Money".
• Currency conversion. If you're spending in a currency that's not loaded onto the card, there will be a fee to convert it. The fee starts from 0.43% of the transaction value and varies by currency.
• No currency order. Unlike many prepaid, multi-currency travel cards, Wise does not have a set drawdown order when you're spending in a currency not loaded on your account. Instead, the funds will be taken from the balance that has the lowest currency conversion fee.
• Funding other accounts. If you use your Wise card to fund an e-wallet, cryptocurrency account, betting account or any other account that may be convertible to cash, a 2% fee applies.

How to apply for the Wise Travel Money Card

If you already have a Wise account, you can order a Wise Travel Money Card in a few minutes by logging into your account.

If you're new to Wise and over 18 years of age, you can get this card by following these steps:

• Sign up and add your first balance to the account.
• Request a card through your account and follow the prompts to verify your identity.
• Set up your virtual card/s and activate the plastic card when it arrives in the mail.

You can use the virtual cards instantly. And after you've activated the plastic card, you can use it to spend the funds loaded on your Wise account around the world and online.

• Wise Travel Money Card information PDF
• Wise Travel Money Card TMD

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Amy Bradney-George

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full profile

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Wise Travel Card Review [2024]

In a Nutshell

A market leader for exchange rates and transparency, the Wise card is one of the best prepaid cards for travel and great for making purchases overseas or online in a foreign currency. Fees apply if you go over the ATM limits. Includes a convenient app and virtual card.

Wise Travel Money Card

• Best Excellent exchange rates
• Worst High ATM fees
• The best exchange rates for a travel card
• No annual fees
• Top up on the go in seconds
• Low conversion fees that are clearly labelled
• Ability to preload up to 53 currencies including USD , CAD , SGD , JPY , EUR and more
• Ability to freeze your card via the app should it get lost or stolen
• Track your spending via the app (great if you've got a travel budget)
• Can use digitally with Apple Pay and Google Pay
• One of the most popular travel cards with over 4 million global users
• Customer support can be slow
• No interest on your balance
• Card delivery may be slow (but you can use the digital card straight away)
• If you withdraw over $350 AUD anytime from an ATM, you will be charged an additional 1.75% of the amount
• After the first two free under $350 AUD ATM withdrawals for the month, a $1.50 fee applies per additional withdrawal

The Wise card (formally TransferWise) removes the money headaches we associate with frequent travelling by making it easy to load and spend a huge range of currencies overseas.

Hands down, it is one of the best cards for overseas travel . No other travel card or debit card offers the same low fees and mid-market exchange rates as Wise. However, charges can add up if you need to withdraw large sums of cash from ATMs.

The average Trustpilot review for Wise is 4.3 stars (from 191,128 users on 14 June 2023).

The most common complaints by users are occasional delays to receive the card, along with poor customer support — although these customers are a minority. 84% of reviewers rate Wise 5 stars.

What is the Wise Travel Card?

The Wise card is a prepaid debit card attached to your Wise multi-currency account . Available as a Mastercard or Visa travel card, it allows you to:

• Makes purchases from 175 different countries
• Transfer money to international bank accounts
• Receive money from overseas in your currency using local bank account details with no fees
• Load up multiple currencies and pay like a local while you’re abroad

Note: Wise is the same company as TransferWise, just with a new name (as of 2021). The Wise multi-currency account used to be called the Borderless account. Nothing else has changed — the debit card remains the same.

How it works

The Wise travel card works just like a normal debit card.

You can use it almost anywhere around the world to withdraw money, make contactless purchases in shops and cafes, pay for accommodation, and shop online.

You can load and hold up to 53 currencies in your Wise account.

If you have the local currency for a payment, the card will use it. If you don’t have the right currency, Wise will convert one of your other currencies for you at the best rate.

Natalie lives in New Zealand and travels to Europe. In her Wise account, she adds euros, British pounds, and New Zealand dollars . She uses her Wise debit card throughout the trip.

In the UK, purchases are automatically deducted from her balance of pounds . In Europe, Wise directly debits purchases from her euros balance.

Towards the end of the trip, Natalie wants to buy a handbag for 500€ but she only has 200€ left in her euros balance, alongside £400, and NZ$1,000.

She can still make the purchase. In this case, Wise deducts the final 200€, then finds the best conversion rate into euros from British pounds or New Zealand dollars. It then converts that currency into euros to complete the purchase.

Adding money to your Wise debit card

The Wise app makes it easy to add money to your debit travel card . Just open the app, choose the currency and amount you want to add, and select your payment method (such as a bank transfer or by card).

You can hold and convert money in 53 currencies:

Wise spending limits

For fraud prevention and extra security, spending limits apply to the Wise debit card. These limits depend on where you got your card.

The card has default limits but you can adjust them to your own spending habits in the app or online. a

The table below lists the maximum limits allowed for Australian, New Zealand, and Singapore cardholders (in AUD, NZD, and SGD respectively).

Wise debit card fees

The Wise website declares that their travel card can help you save up to 85% when you spend internationally thanks to a better exchange rate and lower fees compared to banks.

Of course, fees are unavoidable but Wise makes sure to keep them competitively low.

While it’s free to create a multi-currency account with Wise (formerly TransferWise), other charges will be associated with the card, including:

• Card issue and replacement fees
• Currency conversion fees
• ATM withdrawals fees (beyond 2 withdrawals per month)

Currency allowances

Australian customers can hold a large amount of money per currency for free in their Wise balances. The allowance varies depending on the currency but is roughly equivalent to A$23,000 per currency.

If you exceed the maximum allowance per currency for more than 3 days, you’ll be charged an annual fee of 0.4% for Euros and 1.6% for all other currencies. This is charged as a daily fee for every day in the month you hold over the allowance.

For example, if you hold A$24,000 in your account for a month, you will be charged approximately A$1.30 at the end of the month for the excess A$1,000.

Wise card exchange rates

The beauty of the Wise travel card is that it can hold more than 50 currencies so you don’t have to worry about high conversion fees for every purchase.

If you don’t hold the local currency for a purchase, Wise will use whichever currency you have that has the lowest conversion fee.

Here’s where it gets good.

Wise gives you the mid-market exchange rate for any currency conversions — a rate that is typically better than the exchange rates provided by banks or other travel card companies.

If you have the right currency for a payment, you avoid the conversion fee altogether.

Card Provider

Exchange rate.

A$ → GBP (11 am 09 December 2022)

Conversion Fee

Loading A$1000

$4.38 (0.44%)

No fee on weekdays

How it compares

Get your card

You can apply for a Wise card if you live in one of the eligible countries (including Australia and New Zealand). View eligible countries here.

To get your Wise card, it takes just a few simple steps:

Get a Wise multi-currency account for free online or via the Wise (formerly Transferwise) app. You’ll need ID.

Add money to your account

To be eligible for the card, you’ll need to add a minimum of US$20 to the account. This will cover card issuing fees.

Order your card

Apply for your card on the website’s Card tab or the Wise app’s Account tab.

Activate your Wise card

There are different ways to activate your Wise card depending on whether it’s a Visa or Mastercard.

If it’s a Visa card, you can activate it by entering your PIN in the first transaction you make in a physical store or ATM. If it’s a Mastercard, you will need to go online and enter the 6-digit code provided to activate it.

Wise virtual card & app

Wise has fully embraced the digital age with an easy-to-use smartphone app and access to virtual cards — all designed to banish money and currency confusion in an increasingly connected world.

The app (available on Apple and Android) has everything you need to create an account, get your Wise card, and manage it while you’re globe-trotting.

Once you sign up for a Wise multi-currency account and place an order for the physical card, you can have up to 3 Wise virtual cards connected to your account at the same time.

These free digital cards only exist on your phone and are easy to get through the Wise app or website. They’ll have different details to your physical card and are a great backup option.

Wise virtual cards work with Apple Pay, Google Pay, and Samsung Pay and can be used to make payments online, in-store, and overseas.

The best bit? You can start using your virtual cards immediately — no need to wait for your physical card to arrive.

Importantly, the Wise card is not a travel credit card . You must have money in your account to make a purchase. If you don’t have enough funds, the transaction will be declined.

Your Wise card could take anywhere from 3 working days to 3 weeks to arrive, depending on where you live. However, you can set up your digital card on your phone to use immediately.

The Wise card offers 2 withdrawals of up to A$350 each month for free and A$1.50 per withdrawal after that.

If you need to withdraw more than A$350, you will incur a 1.75% fee on the amount withdrawn — plus the A$1.50 withdrawal charge if you’ve already made 2 ATM transactions that month.

The maximum amount you can withdraw in a single transaction is A$1,750. The maximum daily withdrawal is A$2,700 while the monthly maximum is A$7,000 (the default monthly maximum is set at A$5,250 but you can change this in-app).

Contactless is a common form of payment across Australia, Europe, the UK, New Zealand, Japan, Singapore, and Canada.

Wise enables contactless payments with both your physical Wise card and your Wise virtual card (accessible on Google Pay, Apple Pay, Samsung Pay, and more).

There are different payment limits for cardholders in different countries. In Australia, the limit for single contactless payments is A$900. The daily limit is A$1,750 (set at a default of A$900) and the monthly limit is A$7,000.

As an extra security measure, you may be asked to enter your PIN if you’ve made a lot of contactless payments in one day or you’re making a purchase over a certain amount.

You can also pay with a chip and PIN or with the magnetic stripe where possible — different payment limits apply to these payment methods. View payment limits here .

When it comes to your money, safety is paramount. Wise knows this, which is why it has several safety guarantees.

To start, Wise encrypts any information you give them to protect sensitive data and follows strict guidelines for international money transfers.

Safety measures include the ability to freeze and unfreeze your card any time — helpful if you misplace it — and the option to receive instant transaction notifications to track purchases.

The Wise debit card also allows for 3D Secure (3DS) payments, where some transactions require verification through the Wise app, SMS, or a phone call.

As a company, Wise has an Australian Financial Services Licence and is regulated by the Australian Securities and Investment Commission (ASIC). It is also registered overseas with the UK Financial Conduct Authority and the Financial Crimes Enforcement Network (US), among other financial institutions.

It’s worth remembering that the Wise multi-currency account isn’t like a bank account and safeguards your money differently — the company is completely transparent in how it does this .

The Wise card is designed to be used just like a debit card, which means you can use it to withdraw money from any ATM that accepts Visa or Mastercard — with some exceptions.

You can make 2 free monthly withdrawals (up to A$350) each month. After that, there is a withdrawal fee of A$1.50, plus a 1.75% fee on withdrawals over A$350.

Wise cards issued in Singapore or Canada cannot be used for ATM withdrawals in the country of issue. But you can still use them for ATM withdrawals overseas.

For Wise debit cards issued in Japan, you can only withdraw from certain Japanese ATMs (including AEON, Family Mart, Viewcard, and Daily Yamazaki).

If your Wise card is lost or stolen, the first step is to freeze your card temporarily via the Wise website or app.

Freezing the card means it can’t be used for purchases or withdrawals so you can protect your balance. If you find your card, you can unfreeze it online.

If you can’t retrieve your old card, you can order a replacement card through the Wise app or website. There’s a small fee of A$6 for card replacements.

Wise will block and cancel your old card and ship the new one to you. It will take anywhere from 3 working days to 3 weeks for your card to arrive, depending on your location.

While you’re waiting for your replacement card to arrive, you can use a virtual card. Wise allows you to have up to 3 virtual cards at any given time.

Learn more about the best travel money, debit and prepaid cards for travel

Prepaid Travel Card

Best Travel Money Cards

ASIC regulated

Like all reputable money exchanges, we are registered with AUSTRAC and regulated by the Australian Securities and Investment Commission (ASIC).

S Money complies with the relevant laws pertaining to privacy, anti-money laundering and counter-terrorism finance. This means you are required to provide I.D. when you place an order. It also means the order must be paid for by the same person ordering the currency and you must show your identification again when receiving your order.

• Join CHOICE

Travel money cards with the lowest fees

We look at seven travel money cards from the big banks and airlines..

Prepaid travel money cards are offered by major banks, airlines and foreign exchange retailers like Travelex. Before travelling overseas, you load money into the card account, which locks in the exchange rate for foreign currencies at that time. 

You can then use the card for purchases and cash withdrawals just like a debit or credit card, usually wherever Visa and Mastercard are accepted. 

You can reload money on-the-go via an app or website, and if the card is lost or stolen, it can be replaced (usually at no cost to you).

Prepaid travel money cards also give you assurance that you're not handing the details of your everyday banking account to merchants you're not familiar with, and they provide easy access to cash when you want some, says Peter Marshall, head of research at money comparison website Mozo .

CHOICE tip: Travel money cards are best for longer trips. They're usually not worth your while if you're only taking a short trip, as some have closure, cash out and inactivity fees.

Travel money card fees

A major difference between prepaid travel cards and debit or credit cards is their fees. Some costs aren't immediately apparent, such as hefty margins built into the exchange rates.

And although fees have come down since we looked at these cards two years ago, you still need to watch out for:

• fees to load the card – either a percentage of the total or a flat fee
• ATM withdrawal fees
• a cross currency fee or margin when you use the card in a currency you haven't preloaded
• further fees if you close the account or haven't used the card for a period of time.

Travel money card with the lowest fees and best exchange rate

Westpac worldwide wallet.

Westpac closed its Global Currency Card in July 2021 and offers its new card in partnership with Mastercard.  It's also available from Bank of Melbourne and BankSA.

Currencies: AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, ZAR.

Key features:

• No loading, reloading, closing or inactivity fees.
• Free to use it in network ATMs in Australia and partner ATMs overseas in a range of countries including the UK, US and New Zealand.
• A charge applies at non-Westpac and non-partner ATMs in Australia and overseas.
• Best exchange rates for the US dollar, the Euro and GBP in our comparison.*
• The only card that lets you preload the South African rand.

Other travel money cards

Next to the Westpac Worldwide Wallet, there are six other travel money cards available.

Australia Post Travel Platinum Mastercard

Available online or at post offices.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED.

• Fee to reload the card via BPay, debit card or instore, but free via online bank transfer.
• Closure fee.
• Fees for ATM withdrawals in Australia and overseas.

Cash Passport Platinum Mastercard

It's issued by Heritage Bank and is available online and from a number of smaller banks and credit unions (like Bendigo Bank and Bank of Queensland) as well as travel agents. 

• Fee to reload with a debit card or instore, but free via BPay.

CommBank Travel Money Card

CommBank Travel Money Card (Visa)

As NAB and ANZ have closed their travel money cards, this is the only other travel money card available from a major bank. This card has the largest variety of currencies that can be preloaded.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED, VND, CNY.

• Fee if you make a purchase with currencies not preloaded.
• Fee for withdrawals at overseas ATMs.

Qantas Travel Money Card

Qantas Travel Money Card (Mastercard)

The only travel money card offering from an airline. It can be added as a feature to your Qantas Frequent Flyer card, so you don't need a dedicated card, and you can earn points using it.

• Free to reload via bank transfer or BPay, but there's a reload fee if using debit card.

Travelex Money Card

Travelex Money Card (Mastercard)

Travelex is an international foreign exchange retailer. In Australia, it operates more than 140 stores at major airports and shopping centres, across CBDs and in the suburbs. It was the card with the best exchange rate for New Zealand dollars.*

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD.

Fees : 

• Load fee instore, but free via Travelex website or app.
• Reload fee instore or via BPay, but free via Travelex website or app.
• Closure fee and monthly inactivity fee (if not used for 12 months).

Travel Money Oz Currency Pass

Travel Money Oz Currency Pass (Mastercard)

The Travel Money Group is owned by Flight Centre and is a foreign exchange retailer. 

• Reloading the card via an online bank transfer or instore is free, but there's a fee if you reload via BPay, debit card or credit card. 
• Cash out (closure) fee. 

Travel money card tips

• Make sure the card allows the currencies you'll need, and also consider stopovers. For example, the South African rand is only supported by the Westpac card.
• Try to load your card with the right currencies and amounts on days with good exchange rates. 
• Make sure you know how to reload your card if you run out of funds while overseas.
• It may be more convenient to choose a card that has an app that can be linked to your bank account.
• Avoid loading more money than you'll need as there may be fees and exchange rate margins to get the unused money back.
• Remember to cancel the card once you're finished your trip, especially if it has inactivity fees.
• Be mindful that you still may need a credit card, as travel money cards may not be accepted as security for hotels and car rental agencies. 

Stock images:  Getty, unless otherwise stated.

Join the conversation

To share your thoughts or ask a question, visit the CHOICE Community forum.

Wise Travel Debit Card Review: Fees, Exchange Rates, Limits and How to Use It

There are many things you need to keep track of as a digital nomad, such as visas , travel documents, and accommodation , to name a few.

But one of the most important things to work out is your finances. As a digital nomad, you are likely constantly moving between countries and switching currencies, so having a travel debit card is imperative .

The Wise debit card is an easy financial solution for frequent travelers, digital nomads, and expats . So, what is the fuss about this Wise travel card? How does it work? And most importantly, should you hop on the bandwagon and sign up for it?

I have been using the Wise Travel Card for quite some time now and, in this article, I will give you my honest opinion about it.

What is a Wise Travel Debit Card?

If you travel often, you have probably used or at least heard of Wise (formerly Transfer Wise) .

This UK-based tech company was founded in 2011 by Estonian businessmen Kristo Käärmann and Taavet Hinrikus on the principle of providing fast and fair exchange rates for international transfers without any sneaky fees or below-par exchange rates.

I have been personally using their Wise multi-currency account for years now, and it is still the primary way I transfer money abroad. But, I recently started using the Wise travel card , which added an entirely new dimension to my travels.

Can I Use The Wise Card For Traveling Abroad?

The Wise travel card it's not a credit card and functions pretty much like a regular debit card. You simply add funds to the account and insert, swipe, or tap to pay for items.

The main difference? With Wise, you can hold money in more than 40 different currencies and pay like a local for items in more than 160 countries worldwide without having to worry about hefty fees or markups on conversion rates.

Your Wise Travel Card is connected directly to your Wise account, so you can spend funds from your balances.

Who is the Wise Travel Card for?

Obviously, this is a “travel” card, so its primary purpose is for spending abroad while traveling . That said, you could totally use this for your day-to-day expenses. Traditional banks aren’t really designed to cater to frequent travelers or digital nomads , and the Wise Travel Card fills this gap.

For example, my wages are paid from the US, but I live abroad permanently, so I can easily transfer from my US-based bank to Wise and then simply use my Wise card for most of my daily expenses.

You should consider using the Wise Travel Card if one or more of the following applies to you:

• You frequently transfer funds from another country that uses a different currency.
• You travel internationally often and need a card with low currency conversion fees.
• You often shop online with international retailers that sell their products in a foreign currency.
• You own a business and need a card for international expenses.
• Your current bank card has high currency conversion fees and you want to get away from a traditional bank account
• Your current bank card has high fees for using international ATMs.

Wise Card Features for Traveling Abroad

If you have used a travel prepaid card like Revolut , Chime , or Monzo in the past, you can expect similar features from the Wise Travel Card. Let's see which ones are those:

• Low fees on conversions with the mid-market exchange rate
• Hold, spend, and exchange more than 40 different currencies in your Wise account
• Available to citizens and residents of more than 30 countries , including the UK, Canada, EU, USA, and Australia
• Manage, top up, freeze, and view your card balance in the Wise App
• Use at over 2 million ATMs with free monthly withdrawals up to certain limits.
• Create up to 3 digital virtual cards for free
• Auto currency convert feature to automatically convert your funds at your set rate
• Ability to make Contactless payments
• Connect to most popular eWallets like Google Pay, Apple Pay, and more
• Free spending of any currency you hold in your Wise account
• Biodegradable and eco-friendly card design

Pros and Cons of the Wise Debit Card for Travel

When I first started my digital nomad journey, I quickly came to a rude awakening when I found that my bank was charging exorbitant markups on foreign exchange and fees for ATM withdrawals .

If the same is happening to you, you’ll want to get your hands on this gem of a travel card . But before you sign up, let’s go over some of the upsides and downsides of the Wise Travel Card.

Pros and cons:

What to love about the wise debit card.

For me, the Wise card's standout features are the app's user-friendliness , the multi-currency account , and the low markup on exchange rates .

Being able to hold more than 40 currencies is a game changer. Transferring funds to different currencies in their app when I travel abroad is super easy. To give you an example, I spend quite a bit of time in Europe, the USA, and New Zealand. And with Wise , I can have separate accounts for USD, EUR, and NZD, which makes my life SO much more manageable when traveling to these countries!

On top of that, while there is a small markup fee on currency exchange, it is extremely minimal compared to other banks I have used .

What Could Be Improved About the Wise Debit Card?

The obvious downsides of the Wise Travel Card lie with ATM withdrawal limits , longer card delivery timeframes , and the lack of a premium option .

I am based in the USA, and my card took more than 2 weeks to arrive. Most digital nomads don’t spend too much time in each place, so this can make it difficult to receive your card initially if you are a frequent traveler .

Also, while card transactions are becoming the norm in many countries, cash is still king in several countries I have traveled to in the past few years. The Wise card is NOT exactly the ideal card for withdrawing cash . You’ll only get two transactions for free , and then you’ll be paying a usage fee as well as a 1.75% to 2% markup . This definitely isn’t a dealbreaker, but I hope Wise will improve this in the future.

What Currencies Can You Use With the Wise Travel Card?

One of the main reasons Wise has kept me on board as a customer all these years is their multi-currency account . This is truly the crown jewel of all of Wise’s features.

You can store 40+ currencies in various wallets in your Wise account , but this doesn’t mean you are limited to spending in those currencies. In fact, you can use the Wise debit card in more than 160+ countries ! If the currency you are spending in doesn’t have a wallet option, the Wise card will simply exchange the money into the payment currency at the time of your purchase .

For example, I was recently in Guatemala, and, unfortunately, I was not able to store Quetzal (the local currency) in my multi-currency account. But when I bought something, my funds were automatically converted from USD to Quetzal at the mid-market rate (plus 0.5%).

There are also 11 currencies for which you get account details to make bank transfers . This means you can transfer funds in the following currency balances directly from your Wise account to another bank account.

This is a feature of Wise that I use often. If I need to transfer funds from my US bank account to one in another country, I almost always use Wise as a “middleman” in order to avoid unexpected transfer fees .

While you won’t be able to make bank transfers in other currencies, you can hold them in your Wise account and spend with your travel card.

How Does the Wise Card Exactly Work?

As you can see, the Wise Travel Card is a wise decision for any traveler (see what I did there?), but how does it exactly work?

As with any new bank account or credit card, there is a bit of a learning curve when first using your Wise travel card . That said, using this card isn’t rocket science, so you’ll be saving money on exchange fees in no time!

How to Use the Wise Travel Card Abroad

The Wise travel card is specifically designed for spending money outside of your home country, so as you would expect, it is pretty easy to use abroad.

All you need to do is order your card , activate it, create a PIN, add money to your account, and you will be all set to use the card in a different country!

The Wise App

There is nothing more annoying than an app that is built for developers and not for the general public. Your banking and financial app should be easy to navigate and access.

I personally find the Wise app to be extremely user-friendly and intuitive . All features are easy to find, and when navigating through the app, I rarely got stuck or failed to find a setting.

I was easily able to change personal settings, connect bank accounts, exchange money, and send transfers from the app.

How to Order Your Wise Travel Card

Ordering your Wise Travel Card can take some time (mine took more than 2 weeks to arrive), so I recommend getting on this as soon as possible to ensure you have the card for your next trip!

These are the 3 simple steps you will need to go through:

Step 1: Create a Multi-Currency Account

If you don’t have one already, your first step will be to sign up for a Multi-Currency Account with Wise

Step 2: Start Using Your Virtual Card Immediately

After making an account and verifying your details, you will then be directed to choose a digital/virtual card or a physical card . Digital cards are free and can be added to Google/Apple Pay or used for online payments immediately!

Step 3: Order a Wise Debit Card (Recommended)

If you want instead a physical card, you can do so by clicking on the “Card” tab on the main page and then click on “ Order a Debit Card ”. Physical cards cost a one-off fee of 7 GBP/7 EUR/10 USD , and it will take 7 to 21 business days for the card to arrive, based on your location.

If you'd like to visualise the entire process, watch the instructional video below:

How to Activate Your Wise Card

Once your Wise travel card arrives, it is time to activate it and start spending ! Luckily, for most Wise account holders, you won’t need to take any steps to activate the card, simply make a chip and PIN payment, and the card is ready to go !

Activate Your Wise Card (for US and Japan Customers Only)

As I mentioned above, Wise customers in the USA or Japan must activate the card separately . This isn’t too much of a headache, just don’t forget you need to be in your home country .

Here is a step-by-step breakdown of activating your card if you are a US and Japan customer.

• Log into the Wise app and tap on “ Card ”.
• Then tap on “ Activate Card ”.
• You’ll then be prompted to enter a 6-digit code that you’ll find on your card.
• After entering the code, you’ll create your PIN .

If you'd like to visualise the steps to activate your Wise card for your region, watch the instructional video below:

How to Change the PIN for Your Wise Card

Did you forget your PIN? Don’t worry, it happens to the best of us!

Luckily, if you are a US card holder, you can easily change your PIN in the Wise app :

• Tap on “ Card ” in the Wise app
• Select “ Change PIN ”
• Enter your new PIN 2 times, and you are all set!

If you are a non-US Wise card holder , you cannot change your PIN in the app , unfortunately. Instead, you’ll need to change it using an ATM that supports PIN changes .

My best advice? Choose a PIN you’ll never forget, or keep it written down somewhere secure.

How to Add Money to Your Wise Travel Card

Your Wise travel card is linked to your Wise Multi-Currency account , so you’ll need to top up your Wise account with funds before using the card.

This is a pretty straightforward process:

• Logging into your account
• Choose which currency balance you want to add money to.
• Click “ Add ”.
• Choose which currency you want to use to top up the account.
• Type in the amount of money you want to add.
• Choose your payment method (bank transfer, debit card)
• Confirm the top-up and verify the money arrives in your balance.

Watch the instructional video below to visualise how to top up your Wise balance:

How to Freeze/Unfreeze Your Wise Card

One of the downsides of constant travel is that you put yourself at risk of fraud or losing your card. If you notice potential fraudulent transactions from your Wise card, or you believe your card is lost/stolen, you should freeze your card immediately . This way, you’ll avoid more fraud on your account.

Here are the steps to take to freeze your Wise Travel Card.

• After logging in to your Wise account, tap on “ Card .”
• Then simply click “ Freeze Card ”, or if you want to unfreeze, “ Unfreeze Card .”
• Fill out this transaction dispute form and contact customer support right away. They will be able to help you determine what to do next.

How to Replace a Lost or Stolen Wise Card

If you can confirm that your card has been lost or stolen, you’ll want to cancel the card and then order a new one.

• Log in to your Wise account and click on “ Card .”
• Tap “ Replace Card .”
• You’ll then be prompted to answer why you need a replacement card.
• Wait for the new card to arrive.

How to Use an ATM with Your Wise Travel Card

As mentioned above, ATM withdrawal is not the strongest feature with the Wise card, but you can definitely still use the card to take out cash. Spending with your Wise card is simple since the card can make contactless, chip, and swipe payments and is eligible for Google, Apple, Fitbit, and Garmin Pay. But how do you use an ATM with the Wise card?

Using an ATM with the Wise Travel Card is the same as using any other bank card. Simply insert your card into the machine, enter your PIN, determine how much cash you want to withdraw, and take your cash. Don’t forget to take your card back when you are done (I have made this mistake too many times…).

Wise Card ATM Limits

One of the biggest downsides with the Wise card is that you’ll have limited free ATM withdrawals. For all accounts, you’ll have 2 free ATM withdrawals each month, after which you will be charged an ATM usage fee and a percentage markup on the amount of cash you withdraw.

I use the Wise Travel Card for many of my day-to-day travel expenses, but I use my Charles Schwab Investor Checking account for ATMs. This card not only has a 0% ATM markup, but it also refunds any fees the ATM provider charges. This includes international withdrawals!

Wise Card Delivery Timeframe

Once you order your Wise Travel Card, you can expect it to take between 3 and 21 days to arrive, depending on your location. If you live in Singapore, you’ll get your card SUPER fast. Unfortunately for Americans like me, this isn’t the case.

Wise Travel Card Fees and Exchange Rates

One thing I really love is that using Wise itself is free, and you won’t have to pay an ongoing fee to Wise to use the card. In fact, there isn’t even a Premium account feature, so all users get 100% of the features for free. All this said, there are some charges and exchange rates you should know about before you start using the Wise Travel Card.

Comparison: How Does the Wise Card Holds Up Against Other Travel Cards?

Wise is a leader in the travel account realm, but it still has some major competitors. While all of these different companies vary, they all cater to digital nomads and frequent travelers. The table below will compare some key factors with Wise, Revolut, N26, and Chime.

You may also be interested in:

So, What Travel Card is the Best?

This is a close call and pretty dependent on where you are located. For example, N26 and Chime are awesome choices if you live in the EU or USA (respectively). But, with these options, you can’t hold different currencies like with Revolut and Wise.

For most digital nomads, Wise or Revolut will be the best option. You can hold a huge number of currencies, and they are available to many different nationalities. I have personally used both Wise and Revolut and can say they are both excellent options.

Spending Limits for the Wise Travel Card

The Wise Travel Card has set daily and monthly spending limits for all types of transactions. While these limits won’t be a deal breaker for the vast majority of users, they are still worth noting.

Keep in mind the above limits are for US Wise customers. The amounts will differ slightly for customers based in different regions.

Is It Safe to Use the Wise Travel Card?

Wise is a trusted and safe travel card provider, so you can rest assured that your funds will be protected when using the Wise Travel Card. A licensed and regulated financial institution, your funds are safeguarded in Wise. It is, however, worth noting that since Wise is not considered a bank, it is not FDIC insured. FDIC insures up to $250,000 of bank customer's money, but Wise works a bit differently. Wise safeguards users’ money and is required to ensure all customers have access to all of their funds.

So, is Wise safe to use? Yes, absolutely! We don’t recommend keeping all of your money in Wise, but in general, it is a perfectly secure financial institution.

Additionally, the company uses several security features to protect your data, including HTTPS encryption, a two-step login process, and 24/7 fraud prevention.

What to Do If Your Wise Card Is Lost, Stolen, or Compromised

If you lose your Wise card or suspect it to be stolen or compromised, you’ll need to act quickly to prevent any further fraud. Below, we will go over a step-by-step process for what to do if your card is lost, stolen, or compromised.

• Freeze your card in the Wise app.
• Contact Wise support if you suspect the card to be compromised.
• Cancel the card in the app if you confirm the card is lost or stolen or if fraud charges have been made.
• Order a new card.
• Wait for the new Wise card to arrive.

Bottom Line: Is the Wise Travel Card Worth it?

Time for the 1 million dollar question: Should you get the Wise Travel Card?

If you are a frequent traveler like me and you don’t already have a solid travel card with fair exchange rates, low ATM fees the answer is a resounding yes !

The Wise Travel Card is one of the best cards for digital nomads and expats, as it allows you to seamlessly spend money, withdraw cash, and transfer funds from anywhere around the globe without having to worry about excessive fees. The best part? After paying a one-time card order fee, your Wise account is completely free to use!

Ready To Save Money Abroad with Wise?

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Disclosure: Hey, just a heads up that some of the links in this article are affiliate links. This means that, if you buy through our links, we may earn a small commission that helps us create helpful content for the community. We only recommend products if we think they will add value, so thanks for supporting us!

How To Create a Healthy Work-Life Balance While Working Remotely

How to set up and manage an esim on iphone, digital nomad internet: best wifi options for remote work anywhere.

International Money Made Simple

Wise Card Review

About Author: Hi, I’m Quinn Askeland. In 2014, I started Transumo after experiencing expensive, slow, and frustrating international money transfers and payments through banks. Once I discovered how to manage my own international currencies much better, I became driven to help others improve their transfers and payments. Fortunately, today, there are many excellent options. See My Full Bio .

I have used the Wise card for a few years and now I have found it to be reliable and easy to use. The app is a critical piece of the puzzle because you will find it is the control centre for the card where you can pretty much do everything you can think of. But in this review, I show you the good and the bad along with some alternatives.

• The Wise debit card lets you manage your money better if you work, travel, or do business overseas.

• It is safe to use, as you can freeze and unfreeze your card anytime on your app, set limits and create virtual cards
• The fees and limits for withdrawals depend on your location.
• You can pay with it in-store or online, link it with Apple Pay and Google Pay and take out cash from ATMs worldwide.

Disclosure: This post may contain offers and affiliate links to save you money and it also helps us to keep providing the best information. For more information, see our disclosures here .

On Trustpilot, Wise (formerly Transferwise) and the Wise card have an impressive rating of 4.2/5 from 200,000+ reviews in 2024. 83% of reviewers rated Wise as excellent (5 stars), while an additional 7% consider Wise as great (4 stars).

The Wise Multi-currency card is more than a travel money card that saves you fees on international payments. 

Here’s the deal:

• You can hold, manage, and convert between 40+ currencies
• Spend in 170+ countries 
• The card is linked to the Wise Multi-currency account, which you can also use to transfer money to 170+ countries

Sounds pretty cool doesn’t it?

In this Wise debit card review, we’ll take a closer look at whether this debit card is the right option for you.

Available for personal and business Available in the UK, the US, Switzerland, Australia, New Zealand, Singapore, Malaysia, Japan, Canada, Brazil and most of the EEA Free ATM withdrawal of up to £200 GBP (or equivalent – low fees over that amount) Generate virtual cards for safe online payments  Link Apple Pay and Google Pay  Freeze and unfreeze card instantly from the mobile app Business card offers many other controls

No overdraft or credit facilities Top-up card online or in-app only (no cash deposits)

1. Who is the Wise Card for?

The Wise card is available for both personal and business use and is linked to your Wise Multi-currency Account (review) .

It’s a great option for frequent travelers, expats, growing global businesses, and freelancers who work with international clients. 

The Wise debit card is available in the UK, the US, Switzerland, Australia, New Zealand, Singapore, Malaysia, Japan, Canada, Brazil and most of the EEA – check if you can get one here . 

With the multi-currency account and card, you can:

• The card allows you to spend in over 160 countries
• Receive your salary, pension, tax benefits (for US citizens), etc.
• Pay your utility bills or mortgage without the currency conversion fee
• Hold up to 40 currencies and spend like a local when relocating or traveling abroad
• Get paid like a local with international bank details in 10 currencies (USD, CAD, GBP, EUR, AUD, NZD, SGD (Singapore dollars), TRY (Turkish lira), RON (Romanian lei), and HUF (Hungarian Forint)
• Spend online without foreign exchange fees
• Withdraw money from ATMs at home and abroad

Bottom Line

The Wise card gives you access to a potentially much better way to manage your money if you work, travel, or do business overseas.

2. When the Wise Card Works (and When It Doesn’t)

2.1 when the wise card works.

Multi-currency account 

The Wise debit card is attached to the Wise multi-currency account, which lets users hold, manage, and convert between 40+ currencies. 

The card and the multi-currency account work seamlessly – you can spend in any currency you hold and even withdraw money from ATMs (up to a limit) without any currency conversion fees. 

The business account can let you receive money in 9+  major currencies (USD, GBP, EUR, CAD, AUD and more) like a local – which is very helpful if you run a global business or freelance with overseas clients. 

Money transfers 

One of the biggest perks of the Wise multi-currency account is how affordable money transfers can be. 

Wise (formerly Transferwise) was founded with the mission to keep international bank transfer fees low and transparent. 

To date, they’re the only money transfer service to provide transfers at the mid-market or interbank rate (explained simply).

And they’ve pledged to bring even more affordability and transparency to international transfers with their Nothing to Hide campaign .

Business use

The Wise multi-currency card is a great asset for both big and small businesses. 

You can use the cards to tackle business expenses, create cards for team members (And set spending limits), pay overseas vendors and suppliers affordably, manage tech subscriptions and more.

2.2 When the Wise Card Doesn’t Work

Accounts unexpectedly frozen

The Wise debit card and multi-currency account are regulated in many countries – and Wise frequently audits user accounts in case of any red flags or for breach of service terms (for example, sending business payments from a personal account, transferring above a certain limit, etc.)

They do this to protect your money, but they may freeze your account while sorting things out. 

This can be quite annoying – distressing even – if you keep all your money in your Wise account as a traveler, expat, freelancer, or business. 

While a frozen account is rare, we recommend having a backup source of money – such as an overseas bank account with a high street bank as an expat or business.

• Customer service

Currently, Wise offers customer problem resolutions mostly via email – which can be slow, inefficient, and time-consuming. 

From miscommunication to unexpected delays, Wise’s customer service can be an issue on an otherwise fantastic service.

I have personally had a few issues now and the responses I get are sometimes very generic. Also others in my team have had issues. I think this is likely just growing pains and compliance but our experiences are not isolated. Over the years, Trustpilot has also seen them go from 4.7/5 in 2021 to 4.2/5 in 2024. To be fair, many other services have also lost their rankings over this same time frame so more difficult compliance may be to blame or perhaps Trustpilot changed its scoring system – or both. That said,  I still think they are #1 for small transfers and light years ahead of banks  but in some situations I also believe some alternatives may be better.

3. Wise Card Safety & Security

Wise is a big, trusted company with millions of users and is highly regulated in many different countries.

While all this regulation appears dull (safety is best when it’s boring), it helps because each country has its own rules and needs.

Wise is registered with many financial institutions such as the Financial Crimes Enforcement Network (USA), and the UK Financial Conduct Authority (UK) amongst many others including Europe, Hong Kong, Singapore, Canada, Australia, India, Japan, Malaysia, New Zealand, Singapore and the UAE.

Beyond extreme regulation, the company itself seems very serious about its safety and security.

And they have some great ways to be proactive, for example:

• You can create virtual debit cards (up to 3 at a time) to keep your account safe while spending online.
• You get real-time notifications for all account activities – from money transfers to payments.
• You can freeze and unfreeze your debit card anytime if you lose it, set spending limits (great for both individual use and if you’re issuing to team members), etc.

However, it must be said:

The Wise debit card is used with the Multi-Currency Account that allows you to hold over 40 currencies.

But these funds are not insured like the funds held in your bank .

They do say, “ We keep your money in low-risk financial institutions like JP Morgan Chase, Deutsche Bank, and Barclays. ”

So we’d say the Wise card and associated multi-currency account is safe.

4. Wise Card Features and Benefits

The Wise prepaid card is available in many countries (the US, UK, Canada, Brazil, most of EEA, Australia, New Zealand, and many Asian countries like Japan, Singapore, Malaysia, etc.) and supports usage in 160 countries (online and offline). 

This makes it a great option for frequent travelers who want to explore the world, expats who have moved abroad, as well as businesses who are expanding their global presence. 

Personal and business use

If you already have a Wise personal account, it’s easy to adapt to a business account whether you’re freelancing or building a larger business. 

You don’t have to shop around for an alternative – both the personal and business accounts are pretty robust when it comes to the features they offer. 

Robust card controls

Whether you want to freeze your card in case you misplace it, set spending limits for employees (or yourself as a personal user), or manage direct debits and subscriptions – you can easily control it all from the Wise app.

Free ATM withdrawals  

Need access to cash quickly while traveling? The Wise travel money card lets you withdraw up to £200 GBP/$100 USD/ 350 AUD / 350 CAD / 200 EUR / 350 NZD / 350 SGD etc. for free. 

You can withdraw more but there are fees applicable (about £0.50 GBP + 1.75% of the amount per withdrawal)

Shop safely with virtual cards

Your Wise prepaid card account lets you set up virtual cards (up to 3 at a time) which adds another layer of security when you’re making online purchases. 

Integration with Apple Pay and Google Pay

The Wise debit card integrates with both Apple Pay and Google Pay for easy contactless payments as well as seamless online payments.

5. Wise Card Fees and Limits

The card also has daily, weekly, and monthly spending limits that vary by country – check them out here .

Currency conversion fees: While it is hard to say up front exactly how much you will have to pay in conversion fees, you can use the convenient Wise Fee Calculator (no sign-up needed) to check out all fees before spending or sending.

6. How to Get the Wise Debit Card

The Wise Debit card is available in the UK, the US, Switzerland, Australia, New Zealand, Singapore, Malaysia, Japan, Canada, Brazil and most of the EEA.

First – confirm the card is available in your country.

• Sign up for your Wise multi-currency account and verify it with the relevant documents.
• Apply for the card once signed up. You’ll be asked to fund your multi-currency account with a small fee ($20 USD/£20 GBP) to apply as well as pay the card-issuing fees (see Wise Card Fees (above) ).
• Once you receive your card (takes 3 days to 3 weeks, depending on your location), activate it and set your PIN. (When you’re traveling, enter your 4-digit PIN even if the ATM asks for a 6-digit PIN)
• The card is accepted anywhere MasterCard (or Visa) is accepted.

The card works like a regular debit card and can be used for contactless payments in stores, online payments, and ATM withdrawals worldwide (fees applicable).

7. Wise Alternative Cards

Is Wise your only option for a prepaid debit card or travel money card?

Not at all – Revolut (review) also offers accounts that come with prepaid debit cards that work globally. 

There are others depending on where you live but Revolut is Wise’s closest competitor if you live in the UK, EU, Australia, Canada, New Zaland and the US. 

Here’s a quick low down of the Wise debit card’s best competitor – Revolut. 

Learn more in our in-depth article – Wise vs. Revolut (review) . 

8. Wise Card Reviews (including Negative Ones)

• Easy to use
• Works everywhere

“Excellent I’ve spent years messing around getting travel money. I now have the Wise app, and a physical card so that I can get cash out when I’m on holiday. I just back from a trip across France and Spain, and no issues using my card or on Apple Pay Easy to top up via the app. Handing, the app gives a real-time balance. Love not getting charged by my bank for using the debit card abroad!” – Ian on Trustpilot

I used wise cards for when parents visited me in Australia, giving them the freedom to roam without cash. Then I recently used my wise card to travel to Europe. The card worked flawlessly in the UK, Spain and Italy. Local currency (AUD), good exchange rates at the moment of each purchase (and all fees totally transparent). Worked well with two different car rental companies (Alamo in Spain, Drivalia in Italy). Also used it in the UK to take trains and subways using their contactless option. FLAWLESS! – Mauro Vechi on Trustpilot

• Malfunctioning card/Frozen account

“They couldn’t fix my debit card to work abroad. I am stuck abroad to my home bank’s card and have to pay extra fees. Their support is useless, all they say “rest assured, it is being dealt” But the reality they are not dealing with anything otherwise I wouldn’t have this problem for this long.” – Ulas on Trustpilot

Overall, most of the reviews are positive for Wise (formerly Transferwise) and the Wise card – rated 4.2/5 on Trustpilot with 203K+ reviews (as of January 2024). 

However, the card doesn’t work in some remote locations and payments above Wise’s limits can get your account flagged and frozen. 

That’s why we recommend carrying a backup card or registering for an overseas account eventually when you travel, move abroad, or start a global business.

9. Verdict – Is the Wise Card Worth It?

That would be a resounding yes. 

Wise debit card is safe, secure , (above) and easy to use (above). It offers many things its competitors don’t: 

• more currencies to hold, 
• more locations for registration, and 
• more currencies to spend in. 

As Wise users (for many years now), we benefit a lot from their multi-currency accounts and debit cards in our personal or business lives. 

Plus, we also get to enjoy affordable bank-to-bank transfers to 170+ countries. It’s our top choice for small money transfers abroad .

However, Wise is not perfect. As discussed in the When the Wise Card Works (and When It Doesn’t) (above) sometimes, accounts can get frozen for security reasons, which can be a hassle if you need to access your money urgently. That’s why we recommend having a backup (above), just in case.

Nonetheless, you’ll find the Wise debit card a great companion for your travels (like we did!). You just need to pay a one-time fee to order the card, and then enjoy the benefits of spending like a local wherever you go. No bad exchange rates, just peace of mind and more savings for your travels.

Is the Wise Card Worth it?

Absolutely! It’s a great debit card for travelers, freelancers, or business owners who are growing globally. As Wise debit card user, you can enjoy affordable international bank-to-bank transfers with no hidden fees at the mid-market exchange rate.

Is Wise transfer safe and legit?

Yes, it is safe and legit. Wise has preventive measures to protect your data and money. It is also regulated by financial authorities in the country where it operates. However, you must be aware of its pros and cons to evaluate its service better.

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I tried using Wise as a substitute for my bank account with direct debits in USD, and it started off okay, but then things went south. Transfers failed twice, resulting in $55 in fees, and Wise support couldn’t explain why. They claimed I canceled transfers (which I didn’t). On top of that, customer service is a joke; it’s all automated emails, no one you can call to, and takes ages. Now, all my money is on hold, and I can’t withdraw or use the card. Wise used to be reliable, but my recent experience is frustrating, especially if you’re counting on your Wise card.

Thank you for sharing but sorry to hear about your experience. My experience with the card has been excellent but I hear from a lot of people. So…. The $55 in fees I must say sounds very unusual. Generally even if you cancel transfer quickly in my experience there are no fees, so I can only imagine that something must have happened later in the transfer. Hard to know. The real issue here though is the customer service because if it were less automated then you would have been more likely to solve these issues. To be fair though, for most people there are no issues, but because there is a possibility that things can go off the rails it is a good reminder to have an alternative plan like a card (which most people do – but it is usually not as good). Hope it resolves for you soon!

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By Winston Sih  and  Courtney Reilly-Larke on March 31, 2022 Estimated reading time: 6 minutes

TD First Class Travel Visa Infinite Card review

This premium TD card lets travellers redeem flexible rewards through a partnership with Expedia.

With a plethora of travel-focused credit cards on the market, the TD First Class Travel Visa Infinite Card may not be the obvious choice—especially considering how many Aeroplan cards TD currently has on its roster. That said, the TD First Class Travel Visa Infinite Card is worth considering. Why? It boasts a flexible redemption program and a partnership with Expedia. Cardholders get access to Expedia For TD online portal to redeem rewards for flights, hotels and car rentals on expediafortd.com. 

Add to that comprehensive insurance coverage and generous earn rates and the TD First Class Travel Visa Infinite Card becomes a solid choice for avid travellers.

TD First Class Travel Visa Infinite Card

• Annual fee: $139 (annual fee rebate—conditions apply to qualify)
• Earn rates: Up to 8 TD Rewards points per $1 on travel; 6 points per $1 on groceries and restaurants; 4 points per $1 on recurring bills; and 2 points per $1 on all other purchases
• Welcome offer: You can earn up to $800 in value, including up to 100,000 TD Rewards Points and no Annual Fee for the first year. Conditions apply. Account must be approved by June 3, 2024. Plus, you get an annual birthday bonus of 10% of your previous year’s points (up to 10,000 points).
• Annual income requirement: Personal income of $60,000 or household income of $100,000
• Point value: 1 TD Rewards point = $0.005 when redeemed for travel via Expedia For TD or $0.004 when redeemed through other providers and websites
• Recommended credit score for approval: 725 or higher
• Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers

The TD First Class Travel Visa Infinite Card

• Three things you need to know about the TD First Class Travel Visa Infinite Card
• How to redeem your TD Rewards
• What are the best ways to benefit from this card?

Are there any drawbacks to the TD First Class Travel Visa Infinite Card?

4 things to know about the td first class travel visa infinite card, 1. the you earn points under the td rewards program.

T he TD points system is easier to understand than the point system for the bank ’ s Aeroplan credit cards. Your Point values stay the same no matter where you ’ re flying, so it ’ s easy to work out how much they ’ re worth. Plus, TD Points can be redeemed on any airline, not just Air Canada or Star Alliance Partners. While Aeroplan Miles are valuable, if you prefer simplicity the TD First Class Travel Visa Infinite Card might be more up your alley.

2. Your points go farther when you book with ExpediaForTD.com

If you already use Expedia to book your travel, this card is a savvy choice. When you book travel online through Expedia For TD, you earn 8 TD points per $1. 

3. The card comes with a generous welcome bonus

You can earn up to $800 in value, including up to 100,000 TD Rewards Points and no Annual Fee for the first year. Conditions apply. Account must be approved by June 3, 2024..  Plus, earn a birthday bonus of up to 10,000 rewards points (conditions apply). You can also receive a $100 TD travel credit when you spend at least $500 at Expedia for TD. 

4. You’ll get great travel insurance

The TD First Class Travel Visa Infinite Card comes with up to $2 million of travel medical insurance coverage for the first 21 days of a trip. Trip cancellation, trip interruption, common carrier travel accident insurance, travel assistance services, flight delay insurance, auto rental collision insurance, and delayed and lost baggage insurance round out the card’s benefits. For a premium rewards card, The TD First Class ’ s insurance is fairly standard, however; so, if you ’ re looking for more comprehensive credit card insurance , you could consider a card like the National Bank World Elite Mastercard, * which comes with up to $5 million in out-of-province-of-residence medical/hospital insurance for trips up to 60 days (if you ’ re under 54).

How to redeem your TD Points:

You can redeem your TD Points for travel in two ways. The best—and most valuable—way is through the Expedia For TD online portal, where you can redeem 200 TD points per $1 in travel credit (0.5%) and pay the balance of the cost (if any) using your credit card (you’ll also earn Points on this spend).

Your other redemption choice is the “Book Any Way” option, which lets you book via other travel websites; however, your bookings can cost up to 25% more if you go this route. When using “Book Any Way” you’ll redeem at 250 TD points per $1 (0.4%) applied as a statement credit on your first $1,200 in travel purchases and 200 TD points per $1 (0.5%) for your travel purchases over $1,200. In comparison, with Expedia For TD, you’ll get a better and more consistent return of 0.5% on all your travel spending. 

In both cases, the TD First Class Travel Visa Infinite Card allows you to redeem for any seat on any airline. Additionally, you can redeem points for rewards in small increments (minimum 200), so this means you don’t need to build up a large pool of points before you’re able to apply them towards travel. 

Finally, through the TD Rewards site, you can shop for items such as a Vitamix blender, a Dyson vacuum or gift cards. However, you won’t get the same value as you would booking travel. For example, a $50 gift card at Best Buy will cost you 20,000 TD points, whereas you can use the same amount of points for $100 in travel on the Expedia For TD portal.

How to optimize the TD First Class Travel Visa Infinite Card

Ultimately, your best bet is to redeem points for travel from ExpediaForTD.com . Generally, prices on the website are similar to those on the main Expedia website, and you’ll be able to redeem at the rate of 200 points per $1. If you redeem points for travel outside of the TD portal, your points can lose up to 25% in value; however this could be a smarter route if you find a really good deal on another travel portal. 

If you do find a better hotel or flight deal elsewhere, you have the option to price match, but there are some restrictions: you must have booked within the last 24 hours; your travel plans must be at least 48 hours away; and travel dates, and flight and hotel classes must all be the same to submit a claim.

Does the TD First Class Travel Visa Infinite Card have travel insurance?

With this card you’ll get an extensive suite of travel insurance coverage, for big and small emergencies. For frequent travellers and those who cross the border often, this is a must. The card includes travel medical insurance of up to $2 million of coverage for the first 21 days. (If you or your spouse are over 65 or older, you’re only covered for the first four days of your trip.) You’ll also get up to $1,500 of trip cancellation insurance with this card up to a maximum of $5,000 for all insured persons. For trip interruption insurance, you get $5,000 per insured person, up to $25,000 for all the insured people on the same trip.

You’ll also get common carrier travel accident insurance, emergency travel assistant services and delayed/lost baggage insurance (up to $1,000 per insured person if your baggage is delayed for more than six hours or gets lost ultimately).

There is a minimum personal income requirement of $60,000 or a household income of $100,000. However, this is a common requirement for many cards in the same category. 

Other cards offer more incentive to spend in categories like groceries, dining and entertainment. The TD First Class Travel Visa Infinite Card only offers three times the Points earn on travel booked through the Expedia For TD portal (4.5%)—everything else is at the base three TD points per $1 (1.5%) rate. To compare, the Scotiabank Gold American Express has a five-times Points accelerator on restaurants and groceries (5% per dollar).

Finally, the TD First Class Travel Visa Infinite Card doesn’t offer airport lounge access , and you’ll be charged foreign transaction fees . So, if you like to use airport lounges, or you often find yourself shopping in a foreign currency, you may want to consider a card that offers those perks. 

Bottom line

TD’s unique partnership with Expedia, accelerated earn rates and incremental points redemption structure make the TD First Class Travel Visa Infinite Card a worthwhile consideration as a travel credit card . However, the biggest boost in earning points you’ll get with this card is by booking with ExpediaForTD.com. If you don’t want to be locked into booking that way, you may want to explore other travel card options.

More on  credit cards :

• Canada’s best travel cards 2022
• Canada’s best credit cards for gas
• Canada’s best credit cards for grocery purchases 2022
• Best cash back credit cards

What does the * mean?

Affiliate (monetized) links can sometimes result in a payment to MoneySense (owned by Ratehub Inc.), which helps our website stay free to our users. If a link has an asterisk (*) or is labelled as “Featured,” it is an affiliate link. If a link is labelled as “Sponsored,” it is a paid placement, which may or may not have an affiliate link. Our editorial content will never be influenced by these links. We are committed to looking at all available products in the market. Where a product ranks in our article, and whether or not it’s included in the first place, is never driven by compensation. For more details, read our MoneySense Monetization policy .

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One of the TD First Class Infinite VISA Benefits List include : “ Earn 3 points per $1 on everything spent “ Could you clarify why on my recent Bill Statement, showed $5 earned for 1,178 points Wouldn’t 1,178 points translate into 1178 divided by 3 ?

I have this card, but rarely use except for buying something on a trip to get the insurance coverage. The issue I have is I like to book my travel through web sites like tripcentral.ca (better for packages), VRBO (for condo rentals) and booking.com (much better selection), so only end up rarely using Expedia for TD and end up getting 1.2% back on my purchases, unless I want to wait until I have over $1,200 of points and then buy a major trip, getting 1.5% on the part over $1,200.

So, its pretty good and the insurance is good, but its not as great for travel as they like to claim.

I have had this card for about 2 years now and I am so dessapointed with it. I will stop using it from now on and I will tell everybody I know NOT to get this card or anything related to TD Bank. I changed to this card because they assured me I have full trip coverage with it so I booked my last vacation with it and considering that I did not get what I wanted on my trip they will take some responsibilities and give me some refund after my claim was with them for 8 months. They kept asking me for documents that I provided every time they asked and at the end they kept asking for documents I already submitted three times before. TD is a disgrace for Canadians. I wish the government take actions and do a deep audit on these guys. I will slowly withdraw everything I have with TD to go to another bank. Anything is better than this. Please people, do not do anything with this bank and definitely nothing with this credit card. I am been having issues with this bank since 2008 and it’s time to move on to a better service.

This is the all lying I have issues with that I lost my luggage on my way back home and my flight cut and delayed for 5 months they don’t cover anything’s this massage is for the Visa highly in-charge manager if you guys don’t find me solution I have to take legal step and say bye to TD my whole family since they denied my claim it’s really really broke my heart. I was really trust them never ever again.

I want to redeem my points from my business travel which I have accumulated as I switched to the rewards cash card now .How do I do this June 15,2022

This card is excellent and works well if you are looking to use it for travel specifically. I find it comes in handy when even needing a car rental or a hotel stay on the fly.

We have this card and use it often, we had enough points to use it for 5 hotels on our roadtrip last spring (booked them through expedia). I guess it all depends on what you plan to do. We often go on little roadtrips to Canmore, Banff or Jasper and use it to stay there as well so it really saves us for accommodations. Also not having to get separate car insurance for rental cars is a big plus.

I just got back from Cuba. Unfortunately my flight from Ottawa to Cuba was delayed by 4 hours. And from Cuba to Ottawa for 14 hours. I want to be reimbursed because I bought a ride on my The TD First Class Travel Visa Infinite. Please give me the contact information to whom to apply for compensation. Thank you,

I have First Travel Visa card. My trip is more than 21 days. How can I get travel insurance for the days after first 21 days?

This is incorrect. the $100 travel credit is only for hotels and vacation rentals ALONG with flights. Not if your travel consists only of flights. It is a Hotel credit and NOT a travel flight credit. Beware! This credit card is absolutely useless.

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The 6 Best Prepaid Travel Cards for Australians 2024

Here is a list of the 6 best prepaid cards you can take with you on your travels and the positives and negatives for each one:

• Wise - our pick for prepaid cards

Revolut - low fees

• Citibank - good for use at home
• Travelex - no fees for ATM withdrawals
• Australia Post - lock in exchange rates

HSBC - no international transaction fees

With a prepaid travel card you’ll load money - either in AUD or the foreign currency you need - in advance, which you can then use as you travel , for spending and withdrawals. Lots of cards let you top up and manage your account through an app, which means you can always keep up with your money, even when you’re away from home.

Picking the right prepaid card can mean you get more convenient ways to spend and withdraw when you’re abroad - and lower overall costs, too. Let’s look at some of the best prepaid travel cards on offer for Australians , so you can pick your perfect match:

Wise - our pick for prepaid travel card

• Top up for free in AUD using PayID or bank transfer
• No annual fee, hidden transaction fees or exchange rate markups
• No minimum balance requirements
• Allows you to make payments and withdrawals wherever you are in the world in over 40 currencies
• Local bank account details in Australia (AUD), the UK (GBP), the USA (USD), Europe (EUR), Canada (CAD) and New Zealand (NZD)
• Available in the US, UK, Europe, Australia, Singapore, Japan and New Zealand

Find out more about the Wise card .

With this card:

• It's very easy to set up and order
• Available as a  virtual card
• You can receive foreign currency into a multi-currency account linked to the card
• Pay with your Wise card in most places overseas where debit cards are accepted
• You can transfer money to a bank account overseas

It's not all good news though

• There is a 2% ATM withdrawal fee when you withdraw over $350 during a month
• It takes 7-14 days for delivery

Go to Wise or read our review .

• No hidden fees or exchange rate mark-ups (except on weekends)
• Very easy to use app
• Free to set up account and top up
• You can use it to transfer money to a bank account overseas

Read the full review

• No purchase fee, load fee, reload fee, exchange rate margin or minimum balance requirements
• Unlike other Travel Cards, its free and easy to use the balance of your currency or convert it back to AUD
• The exchange rates are unbeatable. They use the same rate you see on XE or Google with no hidden mark-up
• For the free Standard account, there is a 2% ATM withdrawal fee when you withdraw over $350 during a month
• The premium account costs $10.99 a month, which can really add up if you are not using it often
• Additional fees for using the card on a weekend
• 2% ATM fee once you withdraw more than $350 in any 30 day period
• 3-4 business days before you receive your card

Click here to see the full list of cards and how Revolut compares

Australia Post Prepaid Travel card - lock in exchange rates

• Load up to 11 different major world currencies
• Spend and withdraw easily around the world
• Get access to extras like free wifi when you travel
• Manage your card in online and via an app
• Transfer instantly to another Travel Platinum Mastercard

• Load up to 11 different currencies for easy spending and withdrawals
• Lock in exchange rates so you know what your travel money budget is in advance
• Get extra perks like free wifi when you load 100 AUD or more
• Get fraud protections from Mastercard
• 3.5 AUD international ATM fee, or 2.95% domestic ATM fee
• Exchange rates to add money in a foreign currency or spend a currency you don’t hold are likely to include a markup
• Some fees apply depending on how you top up your account

Travelex - no fees for international ATM withdrawals

• Load up to 10 major currencies at a time
• Spend and withdraw anywhere Mastercard is accepted
• Contactless payments so you can just tap and go
• No Travelex fees for international ATM withdrawals
• Free to spend currencies you hold in your account
• Order online and have it delivered to your home - or collect in store

• Top up and hold up to 10 currencies at a time
• View and manage your account online
• Spend online and in person, and make withdrawals as you travel
• No membership or account fees to pay
• Get exclusive Mastercard discounts and perks
• Inactivity fees apply if you don’t use the card for a year
• Not all major currencies are supported for holding - double check they have the currency or currencies you need

Go to Travelex or read our review .

Citibank Saver Plus - best for use at home

• No international ATM or transaction fees
• Fee-free international money transfers to any account worldwide
• SMS notifications through Citi Alert

With this card you can:

• withdraw money for free at over 3000 ATMs Australia-wide and overseas
• take advantage of no foreign transaction fees, monthly fees, or minimum opening balance
• transfer money to friends and family anywhere in the world for free
• Cash deposits available within 24-48 hours
• Can’t have two cards active at the same time
• $5 account closure
• Hold and exchange 10 currencies: AUD, USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, and CNY 
• No account opening or annual fees to pay
• No foreign transaction fee and no HSBC ATM fee at home or abroad
• Some cashback earning opportunity on local spending 
• Easy online overseas transfers - 8 AUD fee and exchange rate markups apply

• Hold and exchange 10 currencies
• No account opening fee, no ongoing fees 
• Get up to 2% cashback on eligible card spend
• No HSBC ATM fee
• No international transaction fee
• 8 AUD fee for sending money overseas
• Cashback on low value transactions made in Australia only
• Limits apply on how you can use CNY within your account

Read our HSBC Everyday Global Account review .

What are Prepaid Travel Cards?

Prepaid travel cards are a good international card alternatives to carrying cash. They look like credit or debit cards, but they function differently.

You're able to load the card with a set amount of money in the currency you need and can use it to make purchases online, in stores and to withdraw money at ATMs.

Most travel cards allow for multiple currencies to be loaded onto the card. So it's important to know what currency you'll be using on your travels. Airlines also offer prepaid cards so the money you spend can earn you reward points.

Find out how our 5 best prepaid travel cards for Australians compare in our best and worst travel cards article .

Looking for something different?

Read our guides on:

• The best travel debit cards
• The best travel cards for Europe
• The Wise debit card review
• Best virtual debit cards for Aussies

How does a prepaid travel card work?

Order a prepaid travel card online, through a provider app , or - in some cases - pick one up at a physical location or store. Generally to get your card you’ll need to show or upload some ID documents for verification - this is to keep your account safe and is a legal requirement.

Once you have your card account open , you can load funds . Different cards have their own supported methods for topping up, which usually include bank transfer, PayID, credit and debit card, and which may also allow you to deposit cash in some cases. Once you have funds on your card, you can switch to the currency you need for overseas spending. In some cases you can also leave your funds in AUD and just allow the card to convert for you - but do check that no additional fees will apply in this case.

Prepaid travel cards can then be used to tap and pay , make withdrawals and shop online . You can often also add them to mobile wallets like Apple Pay for convenient spending. Because your card isn’t attached to your everyday account it’s secure, and you can only spend the funds you’ve loaded, which means there’s no chance of accidentally blowing your budget.

Advantages and disadvantages of prepaid cards

Prepaid cards can be a handy addition when you’re abroad, as they are secure and convenient to use for payments and withdrawals. However, they’re not the only option. If you’re not sure about whether a prepaid card is right for you, check out these advantages and disadvantages to help you decide:

Advantages:

• More convenient than carrying cash, with easy access to ATMs to withdraw when you need to
• Not linked to your primary day to day account, which can be more secure and make budgeting easier
• Some accounts let you buy currency in advance to lock in exchange rates when they’re good
• You may be able to access better exchange rates and lower fees compared to using a regular bank card

Disadvantages:

• Some prepaid cards have fairly high fees - including charges when you add money to the account. Read more on how to find the best travel cards with no foreign transaction fees
• Not all prepaid cards support a broad range of currencies - check the currencies you need are covered
• Prepaid cards aren’t always accepted for things like paying security deposits - so it’s safest to have a credit card as well

Who is a prepaid debit card for?

A prepaid debit card is handy for many different customer needs. For example, you may choose a prepaid debit card in the following situations:

• You’re planning travel and want to set your budget in advance with no chance of accidentally overspending
• You want to be able to hold and exchange a selection of foreign currencies all in the same account
• You want to increase security by using a payment card that’s not linked to your main everyday account when you travel
• Some cards also offer other perks like ways to receive foreign currency payments conveniently, or cashback 

How can I get a prepaid travel card?

Different prepaid cards have their own order and activation processes. However, to comply with local and international law, providers will usually need to see some ID before you’re able to get a card - this verification step may be available online by uploading images of your paperwork, or in person by visiting a branch. 

Here’s an outline of the basic steps you’ll take to get a prepaid travel card:

• Pick the right card for your needs
• Visit the provider’s website or app - or call into a branch if you’d prefer a face to face service
• Complete a travel card order from, which will include your personal information
• Get verified - usually this involves showing or uploading ID like a passport or driving licence
• Add money to your card, which could be in cash, with a bank card, or by bank transfer
• You can now get your card, and manage your account online or in the app

If you’re ordering a card in person you’ll be able to start using it right away. If you’ve ordered online for delivery, you’ll need to wait a few days, to a couple of weeks, depending on the provider you’ve picked, for your card to be available. You might be able to access virtual card details in the meantime, to start spending right away.

How to choose a prepaid debit card

There are many different prepaid debit cards on the Australian market - so picking the best one for you will require a bit of research. Starting with this guide, compare a few different prepaid debit cards based on features and fees. Here are a few pointers to think about:

• Make sure you know about any opening or card delivery fee which will apply once you order your card
• Check how long it’ll take to get your card if you’re ordering online for home delivery
• Make sure the card you pick can hold a broad selection of currencies, so you can use it for more than one trip away
• Check the fees for adding funds, making ATM withdrawals and converting currencies
• Look to see if there are any account close, cash out or dormancy fees that apply once you stop using the card
• Make sure the card is well rated by other users, and from a trustworthy provider

Where can I get a prepaid debit card?

Generally you can order your prepaid debit card online or by downloading your preferred provider’s app. Some cards, like the Auspost card, can also be collected in physical branch locations.

FAQ - 6 Best Prepaid Travel Cards

Are prepaid cards free.

Prepaid cards may be free to order, or you may pay a small one time fee, depending on the provider and card you pick. Once you have your card you may also pay transaction fees such as exchange rate markups when you switch currencies, and ATM withdrawal charges. Read the card’s terms and conditions carefully so you’re aware of the costs involved.

What are the best prepaid debit cards for international travel?

There’s no single best prepaid debit card - it’ll come down to your personal preferences, where you’re travelling, and the type of transaction you need to make. Pick a prepaid card which is easy to use, which supports the currency you need, and which offers a good balance of low fees and good exchange rates.

What is the best reloadable prepaid card?

There’s no single best reloadable prepaid debit card. Use this guide to compare a few options to pick the one that’s right for you, thinking about features, fees and the range of supported currencies you’ll need.

Should I use a Mastercard or Visa for overseas?

Both Visa and Mastercard are very broadly accepted globally. It’s often a good idea to have a prepaid, debit or credit card on each of these networks, so you’ll always have a backup if for some reason one network isn’t available wherever in the world you are.

Are prepaid currency cards worth it?

Picking the right prepaid currency card can help you save money on currency exchange and access low fee international transaction services. You might also get extra perks like easy ways to lock in exchange rates in advance, so you can get a good deal and fix your travel budget before you go away.

Your currency knowledge centre

5 Best Debit Cards for Australians Travelling Overseas

Travel debit cards are a good alternative to carrying cash. They also offer the convenience of a credit card, but work differently. Here is a list of the 5 best travel debit cards you can take with you on your travels and the positives and negatives for each one.

• Read more ⟶

Wise Debit Card Review

The Wise Debit card give customers an easy way to spend their balances in multiple countries. With interbank rates and low fees, this product is available in Australia for both personal and business customers.

8 Travel Traps to Avoid If You're Heading to Europe

To help you avoid spending money unnecessarily, here are some pretty important travel money traps you want to avoid if you travel to Europe.

Should You Use a Credit Card Travel Portal?

Unlock the details of credit card travel portals and learn how to maximize your benefits.

Using a Credit Card Travel Portal

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Using a credit card portal to book travel could help you save money and help you earn more points or redeem travel credits.

Key Takeaways

• Credit card travel portals search across multiple travel options, giving you the power to compare prices.
• You can use your credit card or rewards to book travel with your credit card issuer's travel portal.
• Some cards may offer travel credits and benefits when you book using the associated travel portal. 

You have many options for booking travel, whether you want to book directly with airlines and hotels, use an online travel agency or book with your credit card's travel portal. Using a credit card travel portal may allow you to take advantage of cardholder benefits and credits and give you additional choices for your booking.

Understand how to use credit card travel portals to save money on your next trip and maybe get some elevated perks along the way – but also recognize when it doesn't make sense.

What Are Credit Card Travel Portals?

Similar to online travel agencies, such as Expedia or Booking.com, credit card travel portals are online travel booking platforms. Cardholders can use credit card travel portals to browse and book travel options, including flights, hotels, rental cars and experiences using your credit card or rewards.

Credit card travel portals include:

• American Express Travel.
• Capital One Travel.
• Chase Travel.
• Citi Travel.

Some credit cards offer cardholder savings or perks when you book travel using the issuer's credit card portal, such as travel credits or cardholder privileges, including free breakfast or late checkout.

How Credit Card Travel Portals Stack Up

When you use a credit card travel portal, the amount and method of payment may be the deciding factors in how you book. Using a credit card travel portal to book travel can save you money, but not always.

We compared a midweek economy flight from Los Angeles to New York and a weeklong stay at a three-star hotel in Manhattan. In some cases, credit card travel portals were competitive, but Expedia had the lowest overall price for flight and hotel costs on this test trip.

Still, this is just one example, and travel prices can fluctuate depending on how you book. It's always a good idea to compare all of your options.

Benefits of Credit Card Travel Portals

Booking your travel with a credit card travel portal can help you earn more points or redeem travel credits. Some examples:

• Cardholders of the Capital One Venture X Rewards Credit Card get a $300 annual travel credit for bookings through the Capital One Travel site. When booking on the Capital One Travel site, cardholders earn unlimited 10 miles per dollar on hotels and rental cars and 5 miles per dollar on flights. ( See Rates and Fees )
• With The Platinum Card ® from American Express , cardholders get a $200 annual hotel credit for prepaid Fine Hotels + Resorts or The Hotel Collection bookings with American Express Travel and earn five points per dollar on flights and prepaid hotels booked with American Express Travel. ( See Rates and Fees )
• Chase Sapphire Preferred ® Card holders get a $50 annual Chase Travel hotel credit and earn five points per dollar on Chase Travel purchases.

"Using the travel credits is huge," says JT Genter, editor in chief of rewards and travel tracking tool AwardWallet. "Card issuers are leaning more towards those only being accessible through the portal."

Credit card travel portal bookings may help your points go further, too. "Because I have a Chase Sapphire Preferred Card, when I use the (Chase) portal to book travel, my points get an extra 25% bump," says Chip Chinery, personal finance blogger at Chip's Money Tips. For example, you'd only pay 100,000 points for a flight or hotel that would require 125,000 Chase Ultimate Rewards points to book without the points boost.

Helpful features can add up to savings on credit card travel portals. For example, Capital One Travel offers a price match guarantee. Genter used the Capital One Travel price match feature on a flight from Cairo to Marrakech, Morocco. Although he booked with Capital One Travel, an online travel agency had a better price. He was able to price match with Capital One Travel to get a travel credit.

Genter points out that cardholders of The Platinum Card from American Express can take advantage of the International Airline Program for potential savings on international flights in first, business or premium economy.

You may also get benefits for booking with credit card travel portals, particularly when booking hotels. For example:

• Cardholders of The Platinum Card from American Express get elite benefits at participating hotels, including early check-in, room upgrades, breakfast for two, a $100 experience credit, complimentary Wi-Fi and guaranteed 4 p.m. check-out.
• If you have a Chase Sapphire Reserve ® , you can book The Edit properties through Chase Travel and receive benefits, including daily breakfast for two, a $100 on-property credit, room upgrades, early check-in and late check-out and complimentary Wi-Fi.

Drawbacks of Credit Card Travel Portals

Travel credits and on-property perks are compelling reasons to use a credit card travel portal. However, it pays to compare pricing among your card's portal, direct booking or an online travel agency, because the lowest-priced option depends on the trip you're taking. Also, you may forfeit some benefits, as credit card travel portals are third-party bookings.

With a third-party booking, you'll have less flexibility in customer service and cancellation than you would if you booked directly. For example, if you're dealing with a delayed flight and need service from the airline, you may be directed to the travel portal customer service. You may have limited options for cancellation and how you get your money or rewards back.

Another major point to consider with third-party bookings: You generally won't be able to earn points or miles with the airline or hotel, though you can earn points with your card. Additionally, you may not be able to use elite benefits for any status you hold. For example, if you have Hilton Honors status that entitles you to a daily food and beverage credit, you're not likely to get it when you book a stay with your credit card travel portal.

When to Use a Credit Card Travel Portal

Booking travel with a credit card travel portal can make sense in some scenarios. For instance:

• You want to compare your travel options across multiple airlines or hotels in the portal.
• You have a travel credit available that can only be redeemed through the issuer's travel portal.
• You have rewards you want to redeem on the portal, and booking this way offers a good redemption value.
• You want to take advantage of benefits, such as elite hotel perks that you can get when using a credit card travel portal.
• Your booking options on the portal are priced lower compared with other options.
• Booking on the portal earns elevated rewards, and the prices and benefits are comparable to those of other booking options.

"It makes sense if you want to take advantage of the credits but also to earn bonus points," says Genter. "And sometimes, they have promotions such as hyper-targeted offers."

Tags: credit cards

Comparative assessments and other editorial opinions are those of U.S. News and have not been previously reviewed, approved or endorsed by any other entities, such as banks, credit card issuers or travel companies. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired.

Best no annual fee travel credit cards of April 2024

Fortune Recommends™ has partnered with CardRatings for our coverage of credit card products. Fortune Recommends™ and CardRatings may receive a commission from card issuers.  

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Travel rewards cards are a lot like gyms. The best ones may come with tons of added benefits (saunas, yoga class, etc.) but they also cost a lot, usually with a big financial commitment upfront. 

As a result, whether you’re considering a Chase Sapphire Preferred ® Card (with its $95 annual fee) or a CrossFit membership, you probably have the same question on your mind: will I really use it enough to justify paying for it? 

While there aren’t any free gyms we know of, there thankfully are plenty of no-annual-fee travel rewards cards that require essentially zero commitment. And just like an ab roller or a Richard Simmons DVD, you can simply use them a few times, forget about them, and put them in a drawer until beach season. Or, you can stick with it and make them part of your daily routine—whatever works for you.

You’re also far more likely to see “instant results” with these cards, too. From 100,000-point welcome bonuses to rewards for paying rent, free travel insurance to 3X on gas, these cards offer way more than you’d expect for a fee of $0 per year. 

The best no-annual-fee travel cards for April 2024

Best overall: bilt mastercard, best for hotel rewards: ihg one rewards traveler credit card, best for airline rewards: united gateway℠ card, best for travel earnings: wells fargo autograph℠ card, best for flat-rate earnings: capital one ventureone rewards credit card.

The Bilt Mastercard allows you to earn points from paying rent and transfer them 1:1 to well over a dozen different travel partners including United MileagePlus and Marriott Bonvoy. Toss in some surprisingly robust travel insurance and you have our unconventional—yet logical—choice for the best overall no-annual-fee travel card of 2024.

Bilt Mastercard®

See Rates and Fees

Special feature

Rewards Rates

• 1x Earn 1X points on rent payments without the transaction fee, up to 100,000 points each calendar year
• 1x Earn 3X points on dining
• 2x Earn 2X points on travel
• 1x Earn 1X points on other purchases
• Use the card 5 times each statement period to earn points.
• Select Learn More to learn about product features, terms and conditions.
• Uniquely earns points on rent
• Rent Day bonus every first of the month offers double points (excluding rent)
• Robust travel transfer partners
• Cash redemption rate is poor
• No traditional welcome bonus
• Travel perks: Trip Cancellation and Interruption Protection, Trip Delay Reimbursement, Auto Rental Collision Damage Waiver
• See this page for details
• Foreign Transaction Fee: None

Why we like this card: As mentioned, the Bilt Mastercard’s most compelling feature is that it allows you to pay rent with a credit card—even if your landlord doesn’t take plastic—and avoid the transaction fee paying rent by credit card would typically incur. Then, as long as you complete five transactions each month, you’ll trigger 1X rewards on your rent payments. 

Note that rewards on rent are capped at 100,000 points per year.

In terms of earning potential, if you pay the median ~$2,000 rent in the U.S., you could earn approximately 24,000 points per year which can be used to book travel in Bilt’s portal at a value of 1.25 cents per point or transferred to any of Bilt’s airline or hotel partners at a 1:1 ratio. In other words, you could likely earn a domestic flight with United or a weekend stay at Hyatt, all for simply paying rent on time.

The Bilt card also provides trip cancellation and interruption protection, trip delay reimbursement, and primary rental car insurance (terms apply)—perks you wouldn’t typically find on a no-annual-fee credit card.

If you’re looking for a hotel rewards card that offers the most free nights for no annual fee, wait until you read about the IHG One Rewards Traveler Credit Card. With a six-figure welcome bonus, up to 17X on stays and other compelling rewards, it’s currently the gold standard for no-fee hotel rewards.

IHG One Rewards Traveler Credit Card

Intro bonus.

• 17x Earn up to 17X points when you stay at IHG Hotels & Resorts 
• 3x Earn 3X points on dining, utilities, internet, cable, and phone services, select streaming services, and at gas stations
• 2x Earn 2X points on all other purchases
• Generous welcome bonus not typically seen in a $0 annual fee card
• Travel protections that are unusual for a no-annual-fee card
• Fourth night free on award bookings
• Limited redemption options outside of IHG
• IHG points are worth less than some other rewards currencies
• Silver status granted with the card has limited benefit
• Additional perks: Trip cancelation/interruption insurance, auto rental collision damage waiver, purchase protection, ability to spend to Gold status
• Foreign transaction fee:None

Why we like this card: We like calling the IHG One Rewards Traveler card the “Liam Hemsworth” of travel rewards cards because it lives in the shadow of its big brother—the IHG One Rewards Premier Credit Card —but still delivers plenty of quality and substance in its own right (with no annual fee, to boot). 

For starters, you can get a welcome bonus of 80,000 bonus points after spending $2,000 on purchases within the first 3 months of account opening, potentially worth around $500 to $700 in IHG redemption. 

Plus, enjoy up to 17X points when you stay at IHG Hotels & Resorts, instant Silver Elite status and a handy bonus where you redeem points for three consecutive nights and get the fourth night in your stay free. So, if you book a three-night stay using your welcome bonus, you’ll essentially be getting a complimentary four-night stay at a nice IHG property for no annual fee. The IHG One Rewards program could be very rewarding for the right traveler.

Check out our full review of the IHG One Rewards Traveler .

As a no-annual-fee airline card, the United Gateway℠ Card currently edges out its rival the Delta SkyMiles® Blue American Express Card by offering a more generous welcome bonus and travel insurance that the Delta card does not provide. If you fly occasionally and would like to earn miles, but aren’t willing to make the commitment of $95 or more for a mid-tier airline card with more perks, the Gateway is a strong choice. 

United Gateway℠ Card

• 2x 2 miles per $1 spent on United® purchases, including tickets, Economy Plus, in-flight food, beverages and Wi-Fi, baggage service charges and other United purchases.
• 2x 2 miles per $1 spent on local transit and commuting, including rideshare services, taxicabs, train tickets, tolls, and mass transit.
• 1x 1 mile per $1 spent on all other purchases
• No annual fee or foreign transaction fee
• Reward bonus categories outside of United Airlines
• Robust travel protections for a no-annual-fee card
• No baggage or expanded award availability benefits like with other United cards
• Subject to Chase 5/24 rule.
• United perks: 25% back as a statement credit on purchases of food, beverages and Wi-Fi on board United-operated flights and on Club premium drinks when you pay with your Gateway Card
• Other perks: Auto Rental Collision Damage Waiver, Trip Cancellation/Interruption insurance, Purchase Protection, Extended Warranty
• Foreign transaction fee: None

Why we like this card: The United Gateway card offers 2 miles per $1 spent on United® purchases, at gas stations and on local transit and commuting plus 1 mile per $1 spent on all other purchases. Considering a United Mile is worth roughly around 1.2 cents these days, effectively earning 2.4 cents back on everyday purchases is a solid value proposition. 

You’ll also get a welcome bonus of 20,000 bonus miles after you spend $1,000 on purchases in the first 3 months your account is open. And, you can save with a discount of 25% back on United in-flight and Club Premium drink purchases. 

New cardholders will enjoy a 0% Intro APR on Purchases for 12 months, after 21.99%–28.99% variable applies.

If the United Gateway card has a small lead on the Delta Skymiles Blue Amex at this point, it soars ahead (pun intended) when you look at the included travel and shopping protections. Both cards offer secondary rental car insurance, but only the Gateway includes trip cancellation and interruption insurance, purchase protection and extended warranty protection. 

So, if you’re seeking a no-annual-fee card you can use to rack up miles—and you either tend to fly United most of the time or you’re at minimum not devoted to a competing airline—the United Gateway is the card to beat.

Check out our full review of the United Gateway Card for more info.

To view rates and fees of the Delta SkyMiles® Blue American Express Card, see this page  

With a generous welcome bonus in exchange for an attainable spend amount, 3X on travel, and a fancy name, you’d think the Wells Fargo Autograph℠ Card would command an annual fee of at least $95. But it doesn’t, making it a superb candidate for general travel use.

Wells Fargo Autograph℠ Card

Intro bonus.

• 3X 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans
• 1X 1X points on other purchases
• No annual fee
• 20,000 bonus points when you spend $1,000 in purchases in the first 3 months (that's a $200 cash redemption value)
• Points transfer to partners
• Car rental insurance is secondary
• No travel insurance
• Transfer partners are limited
• Additional perks: Cell Phone Protection: Provides up to $600 in cell phone protection when you pay your monthly cell bill with your Wells Fargo Autograph card. Coverage is subject to a $25 deductible and limited to two claims every 12-month period.
• Foreign transaction fee: N/A

Why we like this card: The Wells Fargo Autograph offers unlimited 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans and even your landline bill too if you have one, plus 1X points on other purchases—all without charging an annual fee. And, to make traveling a little cheaper/less stressful, you’ll also get $600 worth of cell phone protection (minus a $25 deductible) as long as you pay your phone bill with this card and secondary rental car insurance. 

Cardholders can transfer points at a 1:1 ratio to Wells Fargo’s first wave of transfer partners including Air France‑KLM Flying Blue, Avianca Lifemiles, British Airways Executive Club, AerClub, and Iberia Plus and 1:2 to Choice Privileges. 

But even if you aren’t a member of those loyalty programs, earning 3X on dining, travel, gas, and more is hard to pass up. You can redeem points at a value of 1 cent each to offset past purchases on your account, meaning you can wield the Autograph either as a no-annual-fee travel card or as a cash-back card effectively earning unlimited 3% back in a wide swath of useful categories. 

Check out our full review of the Wells Fargo Autograph .

Sometimes, you just want a card that offers a little more than 1X on every purchase—without having to worry about what this quarter’s rotating rewards are, or whether a specific merchant qualifies as “groceries” for the purposes of your card’s rewards. If you value simplicity and the lack of an annual fee in your travel card, you’ll probably be a fan of the Capital One VentureOne Rewards Credit Card and its straightforward rewards program.

Capital One VentureOne Rewards Credit Card

Reward Rates

• 5x Earn 5x miles on hotels and rental cars booked through Capital One Travel
• 1.25x Earn 1.25x miles on every other purchase
• Flexible travel rewards
• No foreign transaction fee
• Maximizing Capital One Miles requires a learning curve
• Cash redemption value is limited
• The VentureOne offers travel accident insurance, rental car coverage, extended warranty protection, exclusive access to events through Capital One Dining and Capital One Entertainment

Why we like this card: The Capital One VentureOne Rewards offers 1.25X miles per dollar spent on everyday purchases and 5x miles on hotels and rental cars booked through Capital One Travel. That’s pretty much all that you have to remember. You can also get a nice welcome bonus of 20,000 miles after spending $500 on purchases within 3 months from account opening, which is a solid payout for a very attainable spending target. 

Capital One Miles can be transferred to well over a dozen airline and hotel partners, most at a 1:1 rate. Partners include Air Canada’s Aeroplan, British Airways Executive Club, Choice Privileges, Virgin Red, and Wyndham Rewards, among others. Other ways to book travel include redeeming miles through Capital One’s portal or making the purchase directly, paying with your card like normal, then using miles for a statement credit to cover the transaction. 

The Venture One also offers a 0% intro APR on purchases for 15 months (after that, the variable APR will be 29.99%). There’s an intro balance transfer fee of 3% of the amount of each transferred balance that posts to your account during the first 15 months that your account is open , then 4% per transfer for any promotional APR offered after. 

Come to think of it, provided you have the excellent credit needed to apply, the VentureOne could make a great travel companion for a grad student given its simplicity, lengthy intro APR period and low spending threshold required to trigger the welcome bonus.

Check out our full review of the Capital One VentureOne Rewards .

Frequently asked questions

Which card is best for international transactions without extra charges.

Zero foreign transaction fees is actually a common benefit among travel rewards cards, including many with no annual fee. For example, neither the Bilt Mastercard nor the United Gateway card charges a foreign currency conversion fee. 

What is the best travel credit card for a young person? 

If you’re still paying rent, the Bilt Mastercard is an excellent choice since it can generate points from rent payments which can then be transferred 1:1 to well over a dozen airline and hotel partners. If you’d prefer a card with a welcome bonus, which the Bilt card lacks, the IHG One Rewards Traveler card currently offers a massive welcome bonus for a no-annual-fee card—potentially worth hundreds of dollars toward a future IHG hotel stay. 

Is a travel card with an annual fee worth it?

Using a travel rewards card with an annual fee can be worth it as long as you’re extracting enough points and benefits to justify paying the fee each year. If you travel infrequently or just want one less fee to worry about, consider one of the no-annual-fee cards on our list above. But, the best perks and protections are typically available on cards with annual fees.

For example, the Capital One Venture X card offers a $300 annual travel credit for bookings made through Capital One Travel. If you use that every year, you’ve gone a long way toward offsetting the $395 annual fee. You also get 10,000 bonus miles, worth at least $100 toward travel, every year starting on your account anniversary.

Methodology

To bring you our top picks for the best travel rewards cards with no annual fee, the Fortune Recommends surveyed more than a dozen cards currently available from today’s top issuers. From there, we ranked each one based on the following core categories and weights:

• Welcome bonus (10%): Some cards—even those with no annual fee—offer welcome bonuses that you can earn once you make enough purchases within a certain time frame, such as spending $1,000 within three months of account opening.
• Travel earnings (25%): These are the point rewards you’d earn by making travel-related purchases (e.g. 3X on hotels, 2X on airfare).
• Car rental insurance (15%): Many, but not all travel-centric rewards cards include an auto rental collision damage waiver, which allows you to decline a portion of the rental company’s insurance and save potentially up to $30 per day. We gave extra consideration to if a card offers primary rental car insurance versus secondary, because primary kicks in immediately in a covered scenario—whereas secondary only applies after your own, personal insurance. 
• Travel insurance benefits (15%): Some travel rewards cards automatically apply trip cancellation/interruption insurance, lost/delayed luggage reimbursement and even travel accident insurance on travel bookings made using the card.
• Gas earning (5%): Since road trips remain a common form of travel, whether or not a card offers points rewards at the pump factored into our rankings.
• Dining earning (10%): If a no-annual-fee travel rewards card offered 2X or more on restaurant purchases it favored well in this category.

The remaining 20% was based on the card’s main focus: hotel, airline or general travel rewards. 

• For general travel—points transferrable to partners (20%): Points are literally worth more if you can transfer them to certain partners, so a card’s ability to transfer rewards to airline and hotel partners factored into our rankings.
• For hotel rewards—free award night with booking (20%): Some hotel rewards cards offer a BOGO-like perk where if you redeem a certain number of nights with points you get an extra tacked on for free.
• For airline rewards—ability to spend towards status (20%): Most airline rewards cards allow you to earn miles, but not all of them count those miles towards your next loyalty status. If a card treated them as “qualifying miles,” it fared better in this category.

Lastly, just keep in mind that virtually every aspect of a travel rewards card—from the rewards to the welcome bonus and fee structure—is subject to change, which could impact how many miles or points you earn. 

Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefits guide for more details. Underwritten by Amex Assurance Company.  

Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.  

EDITORIAL DISCLOSURE : The advice, opinions, or rankings contained in this article are solely those of the Fortune Recommends ™ editorial team. This content has not been reviewed or endorsed by any of our affiliate partners or other third parties.

Guide to travel rewards credit cards

Best travel credit cards of april 2024, luxury travel for less: your guide to free airport lounge passes, 10 credit card tips to help you avoid disaster when traveling abroad, how credit card travel insurance works—and what it doesn’t cover, insure your adventures: the ultimate guide to credit cards offering travel insurance, how credit card rental car insurance saves money on every rental, chase lga lounge review: luxury at laguardia, chase beefs up new york profile with a new jfk sapphire lounge—here's what you need to know, biggest-ever amex centurion lounge opens in atlanta — with outdoor terraces and bars for both whiskey and smoothies, amex centurion lounge atlanta: what to expect now that it’s open, how to use your credit card to save on travel as airline costs soar, do you have travel rewards saved up these are the best ways to use them, 5 ways your credit card can help you save on spring break travel costs, capital one lounge: what you need to know, how i travel with my wife for less than a date night, best credit cards for cheap airport lounge access in april 2024.

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Credit Cards

Why I chose the Chase Sapphire Preferred as my first ever rewards card

Sarah Li Cain

Robin Saks Frankel

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

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Published 6:03 a.m. UTC April 15, 2024

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I first started learning about the world of rewards credit cards from friends and bloggers and knew I wanted in. The challenge was that it took me a long time to build my credit , and I wanted to be sure I picked the right card. After some research, I landed on the Chase Sapphire Preferred® Card as my first rewards credit card. Yes, there are other cards with lower (or no) annual fees, but I have squeezed a ton of value from this credit card.

Here are the reasons why I landed on the Chase Sapphire Preferred.

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Chase Sapphire Preferred® Card

Welcome bonus.

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.

Regular APR

Credit score.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Editor’s Take

• Flexible points that can be transferred to 14 travel partners or redeemed through Chase Travel℠ at 1.25 cents each.
• $50 annual statement credit toward Chase Travel hotel bookings.
• Valuable travel protections.
• $95 annual fee.
• Category bonuses are limited and not competitive against other travel cards.
• Transfer partner list is limited compared to programs like Amex Membership ® Rewards and Citi ThankYou ® .

Card Details

• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
• Member FDIC

1. I wanted flexible redemption options

Learning about travel rewards and how to redeem points as a beginner all those years ago felt extremely intimidating. I wanted to earn rewards that offered plenty of redemption options and where I could learn at a pace that felt accessible to me. Initially, I ignored the airline and hotel transfer partners and decided I would focus on how I would use my Ultimate Rewards® points through the Chase Travel℠ portal. 

Taking this route eased my fears about how to book flights and hotels using rewards. I was also happy that I didn’t have to feel loyal to one airline or hotel chain like I would have with a cobranded rewards card. After booking a few trips through the Chase travel site, I took the time to learn about the issuer’s travel loyalty transfer partners (there are 14 in total). But I still liked choosing which method — booking through Chase Travel or transferring points — was better for me to squeeze the most out of my points. 

Some travel rewards redemptions offer more value than others. Here’s some of the best ways to use Chase points .

2. The annual fee is accessible, even for occasional travelers

When I opened the Sapphire Preferred card, my family wasn’t traveling much. We were still settling into our new home, my husband had started a new job and I was juggling taking care of my young child with my freelance career. I aimed to earn enough rewards from the card to nab heavily discounted hotels and the occasional flight when we visited family once or twice a year.

At $95, the annual fee felt affordable to us. A pricier card with lounge access wasn’t important, because we didn’t fly enough to feel that feature would be worth it. However, the Sapphire Preferred’s $50 annual Chase Travel hotel credit was, since we stop and stay overnight on our cross-country drives during the summer. 

3. I was able to earn the welcome bonus easily

My family and I mostly used credit cards to pay for bills like utilities and groceries. Looking over our expenses, we could easily spend thousands of dollars over a span of several months. The minimum spend requirement to earn the welcome bonus — 60,000 points after spending $4,000 on purchases in the first three months of account opening — was well within our reach. Plus, I paid off my credit cards each month, meaning we didn’t pay any interest and our rewards earnings didn’t cost us extra. 

The minimum spend is higher than some rewards cards, though lower than luxury ones — my family and I were able to hit the minimum spend in a little over two months. Considering I earned $750 worth of travel if I booked through Chase Travel (which I was mostly doing in the beginning anyway), it was well worth it.

4. There are no foreign transaction fees

My mom and sister live in Canada where I grew up, so I make the annual trek with my family to visit them along with several other close friends. I knew that whatever credit card I signed up for, I wanted no foreign transaction fees when using it in another country. My last credit card did charge fees for transactions overseas, and though they may not seem like much on their own, they do add up.

This benefit alone didn’t convince me to sign up for the Sapphire Preferred but it was certainly a welcome benefit in addition to all the others. 

5. Why I keep the Sapphire Preferred even years later

The Chase Sapphire Preferred has stayed in my wallet for the last six years and I don’t plan on canceling it anytime soon. The initial signup bonus earned my family several hotel nights when we visited family and friends. In subsequent years we took advantage of the $50 annual hotel credit and other benefits, such as primary rental car insurance , to make the annual fee worth it. 

Over the years I’ve added two other Chase cards to the mix — the Chase Freedom Unlimited® and the Ink Business Preferred® Credit Card * The information for the Ink Business Preferred® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. . I pool the points I earn from these two credit cards with my Sapphire Preferred because the Preferred offers a 25% points boost when booking travel through Chase. Since I have a family of three to book travel for, I want to use all the advantages I can get. 

Considering a rewards card? Here’s how to choose the right credit card for you.

*The information for the Ink Business Preferred® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Sarah Li Cain is a finance and small business writer currently based in Jacksonville, Florida whose articles have been published with outlets such as Fortune, CNBC Select, the Financial Planning Association and Zillow.

Robin Saks Frankel is a credit cards lead editor at USA TODAY Blueprint. Previously, she was a credit cards and personal finance deputy editor for Forbes Advisor. She has also covered credit cards and related content for other national web publications including NerdWallet, Bankrate and HerMoney. She's been featured as a personal finance expert in outlets including CNBC, Business Insider, CBS Marketplace, NASDAQ's Trade Talks and has appeared on or contributed to The New York Times, Fox News, CBS Radio, ABC Radio, NPR, International Business Times and NBC, ABC and CBS TV affiliates nationwide. She holds an M.S. in Business and Economics Journalism from Boston University. Follow her on Twitter at @robinsaks.

Grace Pilling is a deputy editor for credit cards at USA TODAY Blueprint. She believes credit cards are the ultimate choose-your-own-adventure tools of the financial world and gets excited about helping people discover the best credit card strategy for their unique goals. Prior to joining Blueprint, Grace worked on and led personal finance teams at Bankrate, CreditCards.com, MoneyUnder30 and MoneyGeek. She has a bachelor’s degree in English and writing and a diploma in editing and publishing.

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• Credit Cards
• Best Cash Back Credit Cards With No Annual Fee

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Best Cash Back Credit Cards With No Annual Fee In Canada For April 2024

Updated: Apr 10, 2024, 9:28am

Cash-back credit cards make tapping your plastic even more tempting, since they turn some of your everyday purchases into cash rewards. They do so by allowing cardholders to earn back a percentage of their eligible credit card spending, either as a deposit into their bank account or as a statement credit.

That all sounds well and good, but some of the best cash-back credit cards have a major catch: They come with an annual fee that ends up eating into your rewards. And while some of these earn enough cash back that they cancel out said fee, spending enough to cover (or even surpass) the fee can be a big commitment—especially if you’re not sure how much you’ll spend each year on the card in question.

If thinking about such a prospect gives you anxiety, there are cash-back cards that have no annual fee —meaning their rewards don’t come with a yearly cost, so it’s pure reward. These cards can be a way to earn cash back without any kind of barrier hindering your earning potential. Here are the best cash back credit cards with no annual fee in Canada.

Featured Partners

Best Cash Back Credit Cards With No Annual Fee in Canada for April 2024

Rogers red world elite® mastercard®, simplycash card from american express, cibc costco mastercard, triangle world elite mastercard, neo standard mastercard, tangerine money-back credit card, tangerine world mastercard, rbc cash back mastercard, simplii financial cash back visa, bmo cashback mastercard, here’s a summary of best cash back credit cards with no annual fee in canada for april 2024, methodology, what is cash back on a credit card, how to choose a no annual fee cash back credit card, how to apply for a cash back credit card with no annual fee, frequently asked questions (faqs).

• Best Credit Cards
• Best Travel Credit Cards
• Best Airport Lounge Access Credit Cards
• Best Cash Back Credit Cards
• Best Credit Cards for Bad Credit
• Best Aeroplan Credit Cards
• Best No Foreign Transaction Fee Credit Cards
• Best Balance Transfer Credit cards

TD® Aeroplan® Visa Infinite Privilege* Card

On TD’s Website

Welcome Bonus

Up to 85,000 Aeroplan points†

Regular APR (Purchases) / Regular APR (Cash Advances)

20.99% / 22.99%

American Express Cobalt® Card

On American Express’s Secure Website

Up to 15,000 Membership Rewards points

$155.88 ($12.99 per month)

Regular APR

MBNA True Line Mastercard

On MBNA’s Website

0% interest for 12 months on balance transfers within 90 days of account opening, with a 3% transfer fee

12.99%-19.99%

Best For U.S. Dollar Purchases

Regular APR (Purchases)

Not only do you get flat-rate cash back on all purchases, a great 3% cash back rate on all purchases made in U.S. dollars, airport lounge access and five types of insurance, you get all that for no annual fee.

• No annual fee
• Earn 2% cash back on all purchases if you have one qualifying service with Rogers, Fido or Shaw
• Earn 1.5% cash back if you do not have a qualifying service with Rogers, Fido or Shaw
• Earn 3% cash back on U.S. dollar purchases
• Complimentary membership to Mastercard Travel Pass provided by Dragon Pass
• Includes some travel insurance coverage
• High income requirements to qualify
• The highest cash-back rate is for U.S. purchases only
• Airport lounge visits cost $32 USD per person, per visit, on top of the complimentary lounge access membership
• 2% unlimited cash back (exclusively for eligible Rogers, Fido or Shaw customers); otherwise, earn 1.5% unlimited cash back on non-U.S. dollar purchases
• 3% unlimited cash back on U.S. dollar purchases
• 5 Roam Like Home days at no cost with an eligible Rogers mobile plan (up to $75 value)
• 50% more cash back every time you redeem for Rogers, Fido or Shaw purchases
• Annual income requirements of $80,000 personal and $150,000 household
• Complimentary membership to Mastercard Travel Pass provided by DragonPass with access to over 1,300 airport lounges worldwide at a cost of $32 USD per person, per visit
• Included insurance benefits: Extended Warranty and Purchase Protection, Rental Car Collision/Damage, Out-of-Province/Out-of-Country Emergency Medical, Trip Interruption and Trip Cancellation

best for groceries and gas

Up to $100 in statement credits

This card offers a 2% rate on the two areas hardest hit by inflation in Canada: groceries and gas. The icing on the cake is that it comes with no annual fee, a slightly above average 1.25% base rate and even has some other perks like a little travel insurance.

Learn more: Read our SimplyCash Card from American Express Review

• 2% cash back on groceries and gas
• Includes consumer insurance and some travel insurance
• American Express is not accepted at some retailers
• In your first 10 months as a new SimplyCash® Card from American Express Cardmember, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card. This could add up to $100 in statement credits in the first 10 months
• Earn accelerated earn rates on eligible gas and grocery purchases
• Earn 2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually)
• Earn 1.25% cash back on all other eligible purchases
• Access events and special offers curated for Cardmembers with American Express® Experiences
• Insurance coverage and 24/7 Customer Service
• American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply

best for restaurants and costco

$0 (requires a Costco membership)

If you’re a Costco member, this card racks up cash back as your stock up on winter essentials. With no annual fee (aside from your Costco membership, of course) there’s no commitment and you can reap oversized rewards at this major retailer.

Learn more: Read our CIBC Costco Mastercard Review

• Earns 3% cash back on restaurants and at Costco Gas
• Includes mobile device insurance, purchase security and an extended warranty
• No welcome bonus
• Only offers 1% cash back at Costco (the Tangerine Money-Back Credit Card earns 2%, for instance)
• Earns 3% cash back at restaurants and at Costco Gas
• Earns 2% at other gas stations and on Costco.ca
• Earns 1% cash back on all other purchases (including at Costco brick and mortar stores)
• Your rewards could add up to $367.62 a year in rewards value (or $422.58 with Costco purchases), according to Forbes Advisors calculations based on average spending among Canadians
• Comes with valuable mobile device insurance
• Includes purchase security and extended warranty insurance

Best For Roadside Assistance

This card has no annual fee, yet it earns Canadian Tire Money on your spending and offers a Gold Roadside Assistance plan with up to 250 km towing distance in Canada or the U.S, as well as emergency fuel delivery, battery boosts, accident assistance, flat tire changing and lock-out service.

• High cash back rewards at Canadian Tire
• Built-in car rental insurance
• Complimentary roadside assistance
• Only grants cash-back rewards from specific store chains
• Only gives digital Canadian Tire Money as cash-back rewards
• Gives 4% back in Canadian Tire Money on qualifying pre-tax purchases at Canadian Tire, Sport Chek, Mark’s/L’Équipeur, Atmosphere, Party City, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey, and participating Sports Experts stores
• Gives 3% Canadian Tire money on groceries up to $12,000 per year (does not include Walmart or Costco)
• Gives 0.5% per litre in Canadian Tire money at gas stations and on all other purchases
• Forbes Advisor estimates $327.64 in annual rewards value based on average Canadian spending
• Car rental collision/loss damage waiver insurance
• Extended warranty protection and return protection
• Roadside assistance with up to 250 km towing distance in Canada or the U.S.
• Requires a minimum annual income of $80,000, or $150,000 in household income

best for retail shopping

Welcome bonus

Up to 15% cash back on the first purchase at a Neo retailer

This card’s earn rate and flexibility are impressive, as are its lack of any annual fee and its welcome bonus offer.

Learn more:  Read our Neo Standard Mastercard Review

• Average of 5% unlimited cash back at Neo partners
• The welcome bonus and cash back only applies to Neo partners
• Does not include travel insurance or other perks
• Welcome bonus of up to 15% cash back on your first purchase at a Neo retail partner. The exact amount depends on what the partner is willing to offer
• Average of 5% instant and unlimited cash back at over 10,000 Neo partners
• Forbes Advisor estimates $577.22 in annual cash back based on average Canadian spending

best for customizable cash back

10% cash back ($100 value)

This card is unique in that it allows you to customize where you earn the most cash back. Users can choose two of 10 spending categories that will earn 2% cash back (without limits) and get 0.5% on everything else. If you opt to deposit your cash-back rewards into a Tangerine Savings Account, you get to add a third category that earns 2% cash back as well.

That said, it is a bit sparing when it comes to other perks, but if you meet the income requirements for its high-end counterparts, the Tangerine Money-Back World Mastercard, you can get a few more frills, like travel perks, rental car collision loss/damage insurance and mobile device insurance.

Learn more:  Read our Tangerine Money-Back Card Review

• Welcome bonus of 10% cash back on up to $1,000 in purchases in your first two months ($100 value) when you apply by April 30, 2024
• Earns 2% back in two spending categories of your choosing
• Get 2% cash back in a third category when you deposit your savings into a Tangerine Savings Account
• Cash back is unlimited and paid monthly
• Includes extended warranty and purchase protection
• No additional perks, aside from extended warranty and purchase protection
• Welcome bonus of 10% cash back on up to $1,000 in purchases in your first two months ($100 value) when you apply by January 31, 2024
• 2% cash back in two spending categories of your choice, including grocery, furniture, restaurants, hotel or motel stays, gas, recurring bill payments, drug store, home improvement, entertainment, public transportation and parking
• Earn 2% cash back in a third category of your choice when you opt to deposit cash-back rewards into a Tangerine Savings Account
• 0.5% cash back on all other spending with no limit
• Forbes Advisor estimates based on average Canadian spending that you can earn $302.69 in cash back per year by using this card
• Balance transfers made in your first 30 days get a 1.95% interest rate on the transferred balance for six months

best for travel perks

The Tangerine World Mastercard is similar to the Tangerine Money-Back Credit Card in that cardholders can choose two of 10 spending categories that will earn 2% cash back (without limits) and get 0.5% on everything else. They can also add a third category if they deposit cash back into a Tangerine Savings Account. The only real difference is that the World Mastercard gets you a few more frills, like travel perks, rental car collision loss/damage insurance and mobile device insurance.

• A customizable rewards program
• No annual spending cap for any categories
• Minimum income requirements
• Mediocre rewards for most purchases
• The welcome bonus offers an extra 10% cash back on up to $1,000 in purchases made within the first two months of owning the card when you apply by April 30, 2024.
• Earn 2% cash back in two spending categories of your choice, including groceries, furniture, restaurants, hotels, gas, recurring bill payments, drug stores, home improvement, entertainment, public transportation and parking
• If you deposit your rewards into a Tangerine Bank savings account, you get a third 2% cash-back spending category
• All other spending categories earn 0.5% cash back
• The card carries an estimated annual net earnings of $302.69 per year based on average Canadian spending
• The card requires an annual minimum income of $60,000 personal, $100,000 in household income or $250,000 or more in Tangerine Bank Savings Accounts or Investment Fund Accounts
• A balance transfer rate of 1.95% for six months
• Credit card balance protection
• Rental car insurance
• Cell phone insurance
• Airport lounge access provided by DragonPass
• Checked baggage insurance

best for groceries

This low-maintenance cash back card earns 2% on groceries and 1% on everything else, with no annual fee.

• Unlimited 1% cash back
• Cash-back rewards only apply to every $100 purchase
• $6,000 cap on 2% earn rate
• 2% cash back for every $100 grocery store purchase (up to $6,000)
• 5% cash back for every $100 on qualifying purchases, up to $6,000 (1% cash back applies after)
• Forbes Advisor estimates a rewards value of $338.51 in annual earnings, based on average Canadian spending, with the annual fee factored in

best for restaurants, bars and coffee shops

Up to 20% cash back† ($100 value)

Interest Rate (Purchases) / Interest Rate (Cash Advances)

20.99% / 22.99%‡

This card gives you great cash back at bars and restaurants with no annual fee.

Learn more:  Read our  Simplii Financial Cash Back Visa Review

• 4% cash back at bars and restaurants
• $15,000 in minimum household annual income
• A low selection of insurance options
• Low base rate cash back
• Get 20% cashback in your first 3 months on eligible gas, groceries, drugstore purchases and pre-authorized payments (up to $500 spend)†
• Get a 20.99% interest rate on purchases‡
• Get a 22.99% interest rate on cash advances ‡
• Earn 4% cash back at bars, coffee shops and restaurants up to $5,000 annually, after that 0.5% unlimited†
• Earn 1.5% on eligible gas, groceries, and drugstore purchases, as well as pre-authorized payments up to $15,000 per year, after that 0.5% unlimited†
• Earn 0.5% on all other purchases†
• Purchase security and extended protection insurance are included†
• †Terms and conditions apply. Click ‘Apply Now’ for complete details. This offer is not available for residents of Quebec.”
• ‡ “Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time.

best for balance transfers

5% cash back

A basic no-fee cash back card that offers high returns on groceries and has a competitive welcome bonus and balance transfer offer. It even offers discounts on Cirque du Soleil shows.

• Balance transfer offer of 0.99% for 9 months with a 2% transfer fee
• Flexible redemption options
• No minimum income requirement
• Low spending caps
• 0.5% base earn rate
• Welcome offers of 5% cash back on $2,500 in total purchases for three months and 0.99% interest on balance transfers with a 2% fee for nine months
• 3% cash back at eligible grocery stores (up to $500 monthly)
• 1% cash back on recurring bills (up to $500 monthly)
• 0.5% cash back on every other purchase
• Forbes Advisor estimates a rewards value of $289.24 in annual earnings based on average Canadian spending, with the annual fee factored in
• 15% off Cirque du Soleil shows in Canada and 20% off shows in Las Vegas
• Up to 25% off rentals at National Car Rental and Alamo Rent a Car participating locations

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With no-annual-fee cash back, the scoring model used takes into account factors such as, but not limited to, cash-back rates and categories, fees, welcome bonuses, and other rewards and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

It offers 3% for purchases made in American dollars.

Rewards: Earn unlimited 2% cash back (exclusively for eligible Rogers, Fido or Shaw customers) on non-U.S. dollar purchases, otherwise earn 1.5% unlimited cash back. Earn unlimited 3% cash back on U.S. dollar purchases.

Welcome Offer: N/A

Annual Fee: $0

Other Benefits and Drawbacks: With this card, you get access to over 1,300 airport lounges worldwide, extended warranty and purchase protection on select items, rental car collision/damage insurance, out-of-province/country emergency medical care and trip Interruption and cancellation insurance. A drawback: To qualify, your annual personal income must be over $80,000, or your household income over $150,000.

———————————————————————————-

This American Express card is the only Canadian card offering 1.25% cash back on everything—and 2% on groceries and gas, up to a limit of $300 per year.

Rewards: Get 2% cash back on gas and groceries up to $300 cash back annually, and 1.25% cash back for everything else with no limit.

Welcome Offer: In your first 10 months with the card, you can earn a $10 statement credit for each monthly billing period when you spend $300 on your card, which could add up to a total of $100.

Other Benefits and Drawbacks: The card’s benefits include $100,000 travel accident insurance, automatic extended warranty on select purchases made with the card, 24/7 customer service, a fraud protection guarantee and emergency card replacement. One drawback is that American Express still isn’t as widely accepted as Visa and Mastercard .

Related: SimplyCash Card from American Express Review

This card earns you 3% cash back at restaurants and Costco gas stations, 2% at other gas stations and when you shop at Costco.ca and 1% everywhere else.

Rewards: Earn 3% cash back when you dine out at selected restaurants and fill-up at Costco gas stations on the first $5,000 net annual card purchases. You’ll earn 2% at other gas stations and Costco.ca until you hit $8,000 in purchases when it will revert back to the base rate of 1% on all other purchases.

Welcome Offer: None.

Annual Fee:  $0

Other Benefits and Drawbacks: This card offers up to $1,000 in repair or replacement coverage for your phone for up to two years, as well as purchase security and extended warranty insurance for some new items purchased with your card.

Related: CIBC Costco Mastercard Review

This card gives you 4% back in Canadian Tire (CT) Money on select items at a range of retailers beyond CT, five to seven cents  per  litre in CT Money on fuel, and 3% back in CT Money when you buy groceries.

Rewards: Earn 4% cash back in CT Money on select items at retailers including Canadian Tire, Sport Chek, Mark’s and Party City. Also, earn five to seven cents when you pump gas, 3% at grocery stores on the first $12,000 you spend per year (excluding Costco and Walmart) and 1% in CT Money everywhere else.

Other Benefits and Drawbacks: With this card, you get roadside assistance , purchase security, extended warranty and rental car insurance . But the cash-back earnings are in CT Money, making this only a card for those who frequent the home improvement store.

This card earns you up to 15% cash back on the first purchase from a Neo retail partner, then an average of 5% cash back at Neo partner locations.

Rewards: Collect an average of 5% cash back when shopping at Neo partner locations and an extra 0.5% cash back when you meet a minimum spending requirement (until you reach $50 in earnings).

Welcome Offer: Earn up to 15% cash back on the first purchase from a Neo retail partner.

Other Benefits and Drawbacks: With this card, you can choose one or multiple rewards packages for boosted cash back and app subscriptions, but it doesn’t come with any basic insurance or other benefits.

Related: Neo Standard Mastercard Review

This card offers unlimited 2% cash back in two or three purchase categories of your choice and 0.50% cash back on all eligible everyday purchases.

Rewards: Get unlimited 2% cash back in up to three categories of your choice (like groceries , gas and entertainment) and 0.50% cash back on all everyday purchases. Plus, get extra rewards when your earnings are deposited into your Tangerine Savings Account.

Welcome Offer: Receive an extra 10% cash back on up to $1,000 worth of everyday purchases made in the first two months of owning the card.

Other Benefits and Drawbacks: While this card is unique, in that it allows you to choose your cash back categories, it does not offer any additional perks like travel insurance .

Related: Tangerine Money-Back Card Review

Like the above card, this one offers unlimited 2% cash back in two or three categories of your choice and 0.50% cash back on all everyday purchases with a few Mastercard network benefits thrown in.

Rewards: Get unlimited 2% cash back in up to three categories of your choice (like groceries, gas and entertainment) and 0.50% cash back on eligible everyday purchases. Plus, get extra rewards when your cash-back earnings are deposited into your Tangerine Savings Account.

Welcome Offer: Be rewarded with an extra 10% cash back on up to $1,000 worth of everyday purchases made in the first two months of owning the card.

Other Benefits and Drawbacks: Unlike Tangerine’s Money-Back Card, this one offers rewards when travelling outside Canada, access to select airport lounges for a fee and special offers for on-demand and subscription services. However, to apply, your annual personal income must be $80,000 or $150,000 per household.

Collect up to 2% cash back on groceries and unlimited 1% cash back on everything else.

Rewards: Earn 2% cash back on every $100 you spend at grocery stores, up to a maximum reward of $120 per year or $6.000 in annual spend. After that spend threshold is crossed, get 1% cash back per $100 spent on in-store grocery purchases with no spending limit. Also earn an unlimited 0.5% cash back on all purchases other than those at the grocery store, including recurring bill payments, until a maximum of $6,000 net purchases is made for a maximum reward of $30 per year., After the $6,000 limit is reached on all purchases outside of groceries, earn an unlimited 1% on all non-grocery purchases after that.

Welcome Offer: None

Other Benefits and Drawbacks: Get  purchase security, extended warranty protection and special discounts and offers at Petro-Canada, Rexall and DoorDash for no annual fee. However, the low earn rates on this card and restrictive $6,000 spending limits on those rates ensure you won’t be earning a lucrative cash back return with this card.

This card earns a whopping 4% cash back at restaurants, bars and cafes—making it a great card for any foodie to have in their wallet.

Rewards: Earn 1.5% cash back on eligible gas, groceries, drugstore purchases and pre-authorized payments for an annual cash-back earnings maximum of $150.

Welcome Offer: Be rewarded with 20% cash back on eligible gas, groceries and drugstore purchases and any pre-authorized payments, during your first three months, up to a $500 spend ($100 value).

Other Benefits and Drawbacks: Get purchase security and extended protection insurance with this card, but you can only cash in cash back at the end of the year, when it’s automatically applied to your December statement.

Related: Simplii Financial Cash Back Visa Review

The BMO CashBack Mastercard is an ideal choice for individuals that spend less than $500 on groceries and recurring bills every month.

Rewards: 3% cash back on groceries, 1% on monthly bills and 0.5% on other eligible purchases.

Welcome Offer: 5% cash back for the first three months and 0.99% interest on balance transfers for the first nine months.

Other Benefits and Drawbacks: This card offers a pretty high earn rate on groceries—a major spending category. It also has a competitive balance transfer offer. That said, it has low spending caps and has little to offer in the way of other perks.

Some credit cards offer cash-back rewards, meaning cardholders can receive a small percentage of their purchases back in cash. For instance, if your card offers 4% cash back on groceries, and you spend $100 at the grocery store, you’d receive $4 in cash back. The cards act as a way to help you to “save” a little on everyday spending, while helping to pay off your credit card bill or fund your bank account (depending on how you redeem it).

Typically, cardholders can redeem their cash back earnings for a cash deposit in their bank account or a credit towards their monthly bill.In some instances, you can only redeem cash back once per year and it’s applied to your credit card statement automatically. Often, if you redeem as you go, you’ll have to earn a certain amount of cash back to redeem (like a $25 minimum) but some cash-back cards allow you to redeem smaller amounts.

Typically, cash back credit cards have a base earn rate—usually 0.5% to 1%—that applies across all eligible purchases.Often, they’ll allow you to earn more cash back—typically 1% to 4—in select purchase categories, like gas, groceries, restaurants or recurring bills. Some cards have a cap on how much of your spending is eligible. For example, you may get 2% cash back on gas transactions when you spend $500 or less filling up your tank each month, but after that, you’ll only earn the 1% base rate on gas purchases.

How Does Cash Back on a Credit Card Work?

Every time you use your cash back credit card, you earn back a percentage of your spending in cash, which accumulates in your cardholder account. You can typically see how much you’ve accumulated on your online bank account or mobile banking app. Some purchases you make will earn you a higher percentage of cash back rewards than others, depending on the card you have. It’s worth noting that your card may require you to accumulate a minimum amount of cash back before cashing in on the rewards. Once eligible to collect, you can get your rewards deposited into your bank account or credited towards your next monthly bill. You may also be able to get the cash back on a gift card.

What Does No Annual Fee on a Cash Back Credit Card Mean?

Some credit cards charge you an annual fee, which could be as low as $25 or over $500. With a no-annual-fee cash-back card, that fee doesn’t exist—but there may be other fees to consider. Foreign transaction fees, interest charges, balance transfer fees, and cash advance fees are all common with credit cards. Read your card agreement carefully to learn the details about fees so you can avoid those fees when possible.

Why Do Some Cash Back Credit Cards Have an Annual Fee?

Cash back credit cards that have an annual fee typically offer higher rewards rates, more attractive welcome bonuses , and/or other perks. Before selecting a card with an annual fee, carefully evaluate if its extra benefits justify the additional cost. If they don’t, there are many cash-back credit cards that don’t come with an annual fee that also offer fair rewards and perks.

Not every cash-back credit card with no annual fee is perfect for everyone. Since each card offers different perks based on purchasing habits, you’ll need to consider your lifestyle and find the credit card that best compliments it.

Forbes Advisor simply highlights the key facts about each credit card to make it easier for you to compare them and find the best one for you. It’s up to you to do the math and consider which one makes the most sense based on your spending history and plans. Here’s what you should consider:

• Fees: Do you often do balance transfers? Make purchases outside of Canada? You may want to consider a card with low balance transfer and FX fees .
• Annual percentage rate (APR): Will you be paying off your credit card in full every month? Credit card interest rates are often higher than other loans. The best card for you may be one with a low interest introductory APR offer.
• Earn rate: Do you drive a lot? Like to dine out? Consider yourself a frequent flyer? Choose a card that’ll give you the greatest percentage back in those areas.
• Bonus categories: If a card offers 5% on rotating categories (meaning you can swap out the categories from which you get a large percentage of cash back) but you don’t want to keep track of them, it’s probably not the card for you.
• Redemption and rewards: Is it easy to redeem your cash back? Is there a minimum or maximum redemption amount? Make sure you can get your rewards in the way that is ideal for you.
• Other perks: Does the card offer other perks you could benefit from? Some offer rental car insurance, built-in travel insurance, extended warranties and more that could help save you money.

Once you’ve read through all of the card details, found out how much you spend in different categories, and considered the bonus features that could be beneficial to you, you’re better equipped to make a well-informed decision.

Applying for a cash-back credit card with no annual fee is the same as applying for any other credit card. Once you find one that is right for you and you’re eligible for (meaning, your credit score and income requirements align), you can visit a bank to apply in-person or sign up by yourself online. No matter the option you choose, you’ll be asked to provide personal information, including your Social Insurance Number and financial details. Once finished, you could get approved instantly or you may have to wait for your application to be reviewed manually. Once approved, you’ll receive your card in a few days or weeks.

What are the benefits of a no annual fee cash back credit card?

The benefits of a no annual fee cash-back credit card depend on the card. Common benefits include:

• The ability to earn cash back with no annual fee
• Consumer protections like purchase protection and extended warranties
• Travel protections such as rental car insurance

Before choosing the right no annual fee cash back credit card for you, consider your lifestyle, spending habits and compare the offerings of all cards, including the earning rates, fees and other benefits.

How do I choose the best no annual fee cash back credit card for me?

To choose the best cash-back card with no annual fee, take a look at where you spend your money most—groceries, gas, entertainment, etc.—and find a card that offers the greatest cash back for those categories. Also take into account the extra benefits the card offers (such as rental car insurance) to discover if they could be of use for you, as well as its fees (like low FX fees) to decide if they could be an extra perk for your lifestyle.

How do I redeem my cash back rewards?

How you redeem your cash-back rewards will depend on the card you have. Each card has different rules that will dictate how you can use and manage your cash backs. For example, some cards have a minimum redemption amount, meaning you’ll have to wait until you accumulate a certain amount of points before you can retrieve your points, which again, will depend on the card. You can have the cash back deposited into your bank account and/or credited to your monthly bill. Sometimes, you can get them back on a gift card.

What are the drawbacks of a no annual fee cash back credit card?

By choosing a no-annual-fee cash-back credit card, you could miss out on larger amounts of cash back in the long run. That’s because credit cards that charge an annual fee have higher rates and more benefits. To determine if a card with an annual fee makes sense for you, estimate how much cash back you could earn—if it’s higher than the annual fee, it may be the right option.

But remember: Most cash-back cards charge high APRs—so if you don’t think you’ll pay off your card each month in full, you’ll pay a hefty sum in interest. In that case, a credit card or loan with a lower interest rate may be a better option.

How can I improve my chances of getting approved for a no annual fee cash back credit card?

If you want to improve your chances of getting approved for a no-annual-fee cash-back credit card, first check your credit score and report so you know where you stand. If you have a poor credit score, you may not get approved for the card you’re interested in. In that case, work on paying down existing debt to prove you’ll be able to pay off your card balance. You can also find out if you prequalify for a card, which means your credit score and financial profile matches its eligibility criteria.

Renée Reardin is a writer and editor with over a decade of experience in the lifestyle and wellness spaces. She's the former senior digital editor at Best Health magazine and Canadian Living magazine, where she handled content that covered everything from food and fitness to fashion and finance. She currently freelances for publications like Allure, Glossy, InStyle, The Toronto Star, and Teen Vogue.