is a travel card a debit card

Travel Cards vs. Debit Cards

If you are planning an overseas adventure, you might be wondering what is the best way to pay for everything. Should you use a travel card or a debit card? How do they differ and which one offers more benefits?

Before you head off overseas, it’s important to know the differences between the two cards. You don’t want to get stung with nasty fees and charges for simply spending your own money.

RELATED: Best debit cards for overseas travel

A travel card is a prepaid card that allows you to load money in different currencies and use it abroad without paying conversion fees. You lock in the exchange rate when you load your card to avoid fluctuations in the market. On the other hand, a debit card is linked to your own bank account and lets you access your own money anywhere in the world. But the downside is you might have to pay international transaction fees and ATM withdrawal fees if you don’t have a no foreign transaction fee debit card .

According to The Currency Shop, 17.3% of Australians used travel money cards in 2019 while on the other hand, Wise reported that 60% of Australians preferred to use their debit cards when travelling internationally in 2020. These reports show that both options are popular among Australian travellers.

Before you make a decision, it’s important to compare the pros and cons of each option by weighing up fees, exchange rates, convenience and security.

Money is always a consideration when travelling overseas, and there is a range of different options to weigh up.

While cash can be good to have, it can also be risky to carry only that, so most people will also carry a card around for extra money. Cards specifically designed for this purpose, known as “travel cards”, can be purchased and used to withdraw money while overseas, but so can most regular debit cards.

These different options can be overwhelming to consider, but ultimately the right choice could save a lot of money in transaction fees and currency conversions. Here we look at both travel cards and debit cards to help determine which option will be the most cost-effective.

Travel Cards

Travel cards can be offered by a number of different organisations, that let you load money in one or more foreign currencies before you go overseas. They are specifically designed to help you avoid currency conversion fees and get access competitive exchange rates. Some well known travel cards in Australia are the Wise Travel Card, the Qantas Travel Money Card and the Travelex Money Card.

Benefits of travel cards

Packing a travel card with you has many benefits, most specifically that you get to lock in your exchange rate before you travel. This is handy so that you know how much money you have to spend. You’ll also avoid currency conversion fees if you’ve loaded in the local currency. For example, if you’re heading to America you can load USD before you leave.

If you’re journey takes you to multiple countries you can load up multiple virtual “wallets”. If you’re off to England, with a week in America beforehand, you can add GBP and USD to avoid the conversion fees.

If you’re a rewards points collector , the Qantas Cash Travel Card also earns Qantas Points. Using this card allows you to earn 1.5 Qantas Points for every AU$1 spent in up to 10 foreign currencies.

These cards are pre-loaded with your own money so that you can access it safely overseas using any number of ATMs around the world. The real benefit that these cards hold over bank debit cards is that if you lose them you will only lose the remainder on the card, whereas a lost debit card could prove to be a much more serious issue.

Drawbacks of travel cards

So now you’ve learnt about the benefits, there’s always the other side of the coin. The drawbacks. The main thing is that these cards often carry high fees for both loading money onto the card and making transactions, so it could end up quite an expensive investment. This could negate any savings you’ve made on locking in your exchange rate.

Another drawback potentially is “inactivity fees”. If you return home with money still left on your card and you forget to use it, you could pay a monthly inactivity fee that will drain any money left. Remember to keep an eye on this when you come home.

Tips on how to use travel cards effectively

If you do decide to take a travel card with you overseas, it’s important to compare the different cards out there. Look at the fees, features, exchange rates and potentially the rewards. You should also check the fine print of your card to understand the terms and conditions, such as expiry dates, minimum balances and reload limits.

Remember to load enough money on your card before you travel, as reloading may take time or incur fees and make your purchases in the same currency as you’ve loaded up. This way you can avoid dynamic currency conversion, which could sting you with more fees.

As a backup you should also keep some cash, just in case.

Travelling with Debit cards

Debit cards are kind of like the cousin of a travel card. They allow you to access your own money, but you don’t have to load the card up. You just have to move money around your accounts.

One of the benefits of taking a debit card overseas is that you are only using your own money. You don’t have to worry about paying interest or getting into debt like a credit card. Another big plus is that some debit cards offer access to global ATM networks which means you can also withdraw cash if you need it.

Drawbacks of debit cards

But, like all things when you travel, debit cards also do have some drawbacks too. One of the main things is that you are subject to fluctuating exchange rates, This means the value of your money may change depending on the market conditions. A purchase for $5USD on Monday might convert to $7 but convert to $7.40 the next day. It’s a small difference but every cent adds up!

Another major drawback is that you may incur various fees when using your debit card abroad, such as currency conversion fees, foreign transaction fees, ATM fees, or account maintenance fees. These fees can slowly add up and reduce the amount of money you have to spend on your trip. This is unless you have a card that waives these fees, like the HSBC Everyday Global debit card account .

Tips for using debit cards overseas

It’s important to use your debit card effectively when travelling overseas. As mentioned before, choosing a debit card with no international transaction fees can help save you money. If your card does has a fee, you should think about withdrawing a bit more cash at the ATM. If you withdraw $100 in one go, instead of 5 lots of $20, you won’t have to pay 4 overseas ATM fees.

You should also let your bank where you’ll be going before you jet off. If their fraud team starts seeing transaction outside of your normal everyday use, it may get flagged as suspicious transactions. The last thing you want is for your card to be cancelled.

Which one should you pack?

Depending on your travel plans, you may find one card more beneficial than the other. For example, if you are travelling to a single destination for a short period of time, a travel card may be a good option as you can avoid currency conversion fees and enjoy a fixed exchange rate. But, if your plans take you to multiple destinations for a long period of time, a debit card may be a better option as you can access your money at any time and avoid reloading fees and expiry dates. There is no one-size-fits-all solution.

Making a decision about money before travelling will help you save more and stay safe while overseas so that you can enjoy the experience without worrying about finances.

MyState Bank Glide Account

Pay no ongoing monthly fees, transaction fees, or ATM withdrawal fees. Earn up to 5.00% p.a. variable interest when paired with a Bonus Saver Account.

Alternatives
Bank of Queensland
Commonwealth Bank
Debit Cards
Linking Accounts
Prepaid Debit Cards

Questions & Answers for the Travel Cards vs. Debit Cards

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Credit Card vs. Debit Card: Which is the Best for Travel Abroad?.

Planning a trip overseas involves several aspects, and one important thing to consider is how you will use money when you get there. Failure to cover this part of the equation before leaving can lead to significant losses through fees, which is not how most travelers envision spending their funds.

To avoid these fees, it's crucial to find the best way to access and spend your money while abroad.

What’s the Best Way to Access and Spend Your Money While You Travel Abroad?

There are lots of ways to access your money while abroad, more than ever, in fact.

You could go credit cards only and leave the cash in your bank account to pay for it all when you return.

Or you could use your debit card to ensure that you don’t accidentally overspend (sometimes that credit card swipe can be a little too easy).

But which way is best?

Besides the fact that only you know what will work best for your habits, there are other considerations at play: making the choices that will charge the least amount of fees and that will potentially even earn you money.

Fees to Worry About While You Travel

When it comes to fees and travel, most people worry about the conversion rates.

And they should!

Depending on where you go, your money could either as much as double in value or go down to half of what it’s worth at home.

To a point, there’s not much you can do about it besides creating a budget that keeps that in mind, so you aren’t blindsided when it’s too late.

But conversion rates aren’t the only thing that can cost you money while you travel.

In fact, the fee that can be the peskiest of all is the foreign transaction fee.

Foreign transaction fees are charges that happen on every transaction you make while you’re traveling in a foreign country .

While these fees may not sound like much at first (usually around 3% at the most), they can add up very quickly - especially if you’re not likely to carry any cash while you travel.

Think about it this way, if you buy breakfast, lunch, and dinner while you’re away, that’s already three foreign transaction fees per day - that doesn’t even count buying train tickets or souvenirs or tickets for cultural events and institutions.

Multiply that minimum of 3 fees times one week-long trip, and suddenly you’re paying up to 3% of 21 transactions.

See how quickly that can get expensive?

The math makes this one simple.

No matter what kind of card you’re using to spend your money while you’re traveling in a foreign country, make sure it’s one that doesn’t charge foreign transaction fees.

How You Can Earn Money While You Travel

Now that you know how to avoid fees when you travel let’s talk about how you can earn money while you travel .

Depending on the type of card you’re using (or what kind you get if you’re shopping for a new card), you could earn rewards for all kinds of different spending.

If you’re planning on using a card to make your purchases while you travel abroad anyway, why not earn some points , cash, or rewards for doing so?

If your current debit or credit card doesn’t offer rewards - or if you don’t usually focus on rewards because you spend with cash - consider the benefits of looking into a rewards card for your trip .

Chances are you won’t be using cash - so why not get paid for using your card?

If it’s a credit card, just make sure you pay the balance in full before the interest hits, so you don’t wind up losing more than you earn.

So What’s Best for Travel? Credit or Debit Cards?

Now that we’ve covered the fees to look out for and the ways to earn, let’s get into the real question: whether you should use a debit card or credit card while you travel.

The Pro and Cons of Using a Debit Card

If you’re using a debit card, you’re basically using cash. Whether you enter a pin at the time of purchase or select the “credit” option, that money is coming right out of your account within a few days time.

For someone who doesn’t want to run the risk of spending more than planned, this can be a good option.

After all, as easy as it is to swipe a card, there is still a finite money in your bank account to contend with.

The other benefit of using a debit card is that it also functions as an ATM card.

So if you need cash on hand, you can get it with your debit card. Just beware hefty ATM and exchange fees.

The biggest downfall of paying with debit versus a credit card is the fact that if a debit card is hacked, the funds from your bank account are at risk.

If you don’t have a credit card to use as a backup, then that could severely hamper your entire trip while you wait to get it all sorted out and free up your funds.

When someone makes charges on your account, the money you need for bills and living expenses are immediately taken away, giving you less to manage, overall.

You could face serious financial consequences if your bank account information is leaked and someone manages to use all of the funds.

Pending transactions or checks may bounce, and that could result in hurting your credit score.

It is possible to fix errors that were not your fault, but when a debit card is stolen it could cause you a bigger headache.

The Pros and Cons of Using a Credit Card

Unlike a debit card, there are far fewer limits to what you can spend.

As long as your credit limit is decently high, you have a lot of funds to work with.

The problem is, that makes it a little too easy sometimes to spend more than you can afford.

The benefit of using a credit card while you travel is a double-edged sword.

You can spend roughly as much as you’d like, but you don’t want to spend so much that it will take years to pay off.

One of the best things about using a credit card for foreign travel is that, if it’s stolen, you don’t have to worry about losing access to your real money.

However, you’ll still need to have a backup card (whether it’s debit or credit) if that happens.

Your issuer may still suspend your account while the situation gets resolved.

The con of using a credit card for travel is you won’t be able to use it at ATMs to access the cash in your bank account.

So if you find yourself at a cash-only establishment, you’re going to get stuck if you don’t also have cash or a debit card to withdraw some money.

The Best Approach Is a Combination of the Two

Since both options have a fair list of pros and cons, the real winner here is to use a combined approach.

Rather than asking if you should use a credit card or a debit card while you travel abroad, bring both.

Bringing both a credit and debit card helps prepare you for all the situations listed above - and when you’re far from home, being prepared can be a real game changer.

But when it comes down to which one you should use primarily, consider your spending habits.

If you’re afraid of overspending, stick to the debit card.

If you’re afraid of fraud, use a credit card. (The credit card won’t prevent fraud, but it does prevent your bank account from being accessed in case of fraud.)

No matter what you do, choose the option that works best for you in the end.

Federal Laws Regarding Debit and Credit Cards

What many people do not realize is that consumer protection laws have different guidelines regarding debit and credit card fraudulent activity.

Under the federal credit billing act, if a credit card number is stolen and used, the card owner is not held liable for any charges.

When a credit card is actually stolen, the card owner is not held liable for any charges as long as it is reported missing before transactions take place; otherwise, a maximum of $50 for fraudulent activity could be charged on the card.

Debit cards are a completely different story and give people more to lose if lost or stolen.

If a debit card is lost or stolen and reported before it is used, the card owner is not liable for any of the charges.

However, he/she may be held liable for $50 of fraudulent activity if it is reported within two business days after unauthorized use.

Reporting a stolen card is crucial to avoid paying penalties.

A cardholder could be responsible for up to $500 of fraudulent charges if he/she fails to report a lost or stolen debit card after two days of unauthorized use.

In addition, there is no real limit to the amount a person can lose if a debit card is not reported lost or stolen after the first 60 days of unauthorized usage.

Don’t Forget to Protect Your Money While You Travel

Nothing can ruin a trip faster than not being able to access your money.

That’s why it’s imperative to have some protections in place before you leave.

Here are the two most important things you can do to protect your money before you embark on foreign travel .

Tell Your Card Issuer You’re Going to Travel Abroad

First of all, call your credit card issuer before you go and alert them of your plans.

If you don’t, you might find that the first transactions you make abroad get declined immediately.

Usually, a card issuer would worry that this type of activity is fraudulent - it’s up to you to warn them, so they know it's you making the foreign purchases.

In order to do this, simply look up the customer service number on the back of your card or on your card issuer’s website.

Let them know where you’re going and for how long.

They can make a note of it on your account, so you won’t get declined after you go away.

Keep Your Personal Items on You

Finally, a protected debit or credit card is one that you know where it is.

When you’re embarking on adventures, buy a pack to strap them to your body under your clothes.

When you’re in busy markets, avoid putting them in open purses or your back pocket.

When you’re sitting down, keep your bags near your feet instead of behind or even next to your chair.

It’s not hard for a practiced thief to swipe a wallet or purse.

Keep your personal items on you and you’ll be less likely to endure theft.

Again, a rule that works both abroad and at home.

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The Ultimate Guide To The Best Debit Cards For Traveling

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Having the right debit card for traveling is extremely important as it can mean the difference between:

A stressful experience because your card doesn’t work in your destination / you blew your budget because you didn’t account for hidden fees most banks charge you.
Being able to pay for things easily both online as well as in person while also saving hundreds or even thousands of dollars a year on fees that you don’t need to pay.

The second option sounds much better, right?

Well the truth is that most banks will charge you fees for foreign transactions, foreign currency conversions, and foreign ATM withdrawals, and if you only travel once a year, the amount you lose on them might not be that much, but if you travel more often than that, you could be losing hundreds or even thousands of dollars a year on these fees!

In addition, some banks still haven’t caught up to the 21st century and the debit cards that they give you might not even work in other countries because they lack basic functionalities such as a chip & 4-digit number PIN, contactless payments, and Visa or Mastercard integration.

However, there are banks out there that offer no-fee 21st century debit cards that are perfect for traveling. When it comes to finding the right one for you, it depends on where you live.

If your current bank offers a card that has all those functionalities and also none of the fees I mentioned earlier, then great! But most standard banks won’t so you might have to look for a different one.

Luckily for you, I have put together a guide to the best debit cards and bank accounts you can get no matter where you live in the world!

Important information about debit cards:

Try to limit the amount of payments you make with your debit card since it’s your money that is lost if something happens. Use it to take out cash and use credit cards for payments if you can as they are safer since you aren’t technically paying with your own money when you use a credit card.
If you do choose to make payments, always choose to pay in the local currency because the exchange rate offered by Visa & Mastercard will always be better than the one offered by foreign merchants. The same goes for ATMs. I go into more detail about this in my Guide to Getting Cash While Traveling .
If your bank offers this feature, lock your card using the mobile app when you’re not using it to prevent fraud.
Keep a backup debit card hidden in your luggage in case something happens to your main one and know what to do if your card is lost, stolen, or copied. See #6 in my Guide to Money Management While Traveling for all the steps you should take.

Best Travel Debit Card in the USA

Charles Schwab Bank

Charles Schwab Bank’s debit card is often recommended by travelers because of its lack of fees and the fact that any fees you have to pay when using any ATM in the world get refunded to you!

This is a feature that not many banks offer so this is why they stand out above the rest. If you’re a US resident, you definitely need to look into getting your hands on this bank account and debit card.

Note: if preventing fraud is a priority and you are looking for a card that has instant notifications for transactions + the ability to freeze & unfreeze your card instantly from the mobile app, check out N26 below .

No monthly account fees
No foreign transaction fees
No foreign currency conversion fees
No foreign ATM withdrawal fees
ATM fees imposed by ATMs themselves worldwide get refunded to you by the bank (huge benefit)
Visa debit card & a US Dollar checking account
Can sign up online

Eligibility

You need to be a US resident (with proof of residence) and have a US address (no P.O. boxes) to open an account.
If you are outside the US when opening an account, you must do it using a VPN or else risk requiring a visit to a branch in person.
You also have to open a brokerage account with them at the same time to use the checking account. However, it’s free and you don’t even have to touch it if you don’t want to.

Best Travel Debit Card in Canada

While not technically a bank, what STACK offers is the best option for Canadian travelers since there is no Canadian bank that has a similar offering.

Signing up with STACK gets you a free reloadable Canadian Dollar Mastercard that doesn’t have any foreign transaction, currency conversion, or ATM withdrawal fees. You can also fund it quickly and easily with e-transfers. Think of it kinda like a prepaid debit card.

Sign up using this link and receive $5 for free! (You must click the link with a mobile device to get your $5).
No foreign transaction fees (max 15 in-person transactions per day)
No foreign ATM withdrawal fees (max 2 withdrawals per day, max $500 per withdrawal, max $2,000 a month)
Instant push notifications for any transactions
Instantly freeze and unfreeze your card anytime from the app
Contactless Mastercard with a chip & PIN
Digital wallet compatible
Easily load the card instantly using e-transfers
Discounts at certain Canadian retailers
You need to have a Canadian address (no P.O. boxes) to open an account. You might be able to use a friend’s address.
It is not available in Quebec (yet). Use a friend’s address in another part of Canada until they offer it in Quebec

Best Travel Debit Card in the UK

Starling Bank

There are a few different options available in the UK, but the absolute best option is Starling Bank thanks to the fact that it doesn’t charge you any fees whatsoever for your travel needs.

Other similar UK banks like Monzo and Monese have limits to the amount of ATM withdrawals you can make, charging you extra fees for going over those limits. This is why Starling Bank stands out as the best choice for UK residents.

In addition to British Pounds, you can also hold Euros in your account and even make purchases in Euros using the same card
Contactless Mastercard debit card with a chip & PIN
You need to have a UK address (no P.O. boxes) to open an account. They may also ask for proof of address information so you might not be able to use a friend’s account.

Best Travel Debit Card in Australia

HSBC Everyday Global Account

There are a few decent banking options in Australia, but the HSBC Everyday Global Account takes the cake not only because there are no fees to use it, but also thanks to the fact that it lets you hold a total of 10 different currencies in your account!

You can choose to pre-load your account with a certain currency before traveling or use your main currency and benefit from no foreign currency conversion fees.

In addition to Australian Dollars, you can hold 9 other currencies in your account: US Dollars, British Pounds, Euros, Hong Kong Dollars, Canadian Dollars, Japanese Yen, New Zealand Dollars, Singapore Dollars, and Chinese Yuan
Contactless Visa debit card with a chip & PIN
You need to have an Australian phone number and address (no P.O. boxes) to open an account. If you don’t live in Australia, you might be able to open an account by visiting the nearest HSBC bank to you or by simply using a friend’s phone number and address.

Best Travel Debit Card in Europe

If you live in Europe (or even if you don’t, see below), you gotta go with N26 . They don’t offer completely free accounts, but compared to all the others available, they are the best.

You are able to open a Euro account with N26 in any one of the following countries: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.

Note: they used to be available in the UK, but have left ever since Brexit.

And even if you don’t live in any of those countries, you can ask a friend living in one of them if you can use their address to receive the card, after which you can change the address no problem!

*N26 has also expanded to the US, but Charles Schwab is still the better travel bank account and debit card for Americans to use for the time being unless your priority is fraud prevention, in which case N26 is best since it has instant notifications for transactions + the ability to freeze & unfreeze your card instantly from the mobile app.

No monthly account fees for the standard account (9.90 EUR for N26 You & 16.90 EUR for N26 Metal)
Free ATM withdrawals in Euros* (See Eligibility)
Foreign currency ATM withdrawals come with a 1.7% fee (this fee is waived if you pay for a premium account)
Free cash withdrawals and deposits at select stores across Germany, Austria, and Italy using their CASH26 feature (deposits over 100 EUR a month get charged a 1.5% fee)
TransferWise integration for cheaper transfers than most banks
Online account and customer support also available in Spanish, French, German, & Italian
Premium accounts come with Travel Insurance, Car Rental Insurance, and even Mobile Phone Theft Insurance!
The number of free ATM withdrawals in Euros that you get depends on the country you sign up in. Signing up in Austria or Italy gets you unlimited free withdrawals in Euros, whereas signing up in any of the other countries gets you 5 free ATM withdrawals in Euros in Eurozone countries (and only 3 of them if you sign up in Germany), after which they will cost you 2 EUR per withdrawal.
You need to have an address (no P.O. boxes) in one of the eligible countries to open an account. You can easily use a friend’s address when creating your account to receive the card and then change the address in your account once you get it without any issues. Try to get a friend in Austria or Italy for the unlimited free withdrawals!

Best Travel Debit Card in the Rest of the World

TransferWise Borderless Account

Even if you don’t live in any of the countries I just mentioned or you just want another alternative, you should consider opening a TransferWise Borderless Account.

In addition to super low international transfer fees, you can keep money in more than 50 different currencies in your account as well as have real bank accounts for the USA, UK, Eurozone, Australia, New Zealand, and Poland which also let you receive payments in those currencies like a local!

You also get a contactless Mastercard debit card which you can use to make purchases and take out cash anywhere in the world. Whenever you use that card, if you already have the currency in your account, you don’t get charged any fees and if you don’t have it, you only get charged a small conversion fee, making it a great option for travelers.

Keep in mind that TransferWise is only able to send cards to residents of Australia, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Iceland, Italy, Ireland, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Singapore, Sweden, Switzerland, the United Kingdom, or the USA (but you can always use a friend’s address to get the card as well).

Foreign currency conversion fees range from 0.24% – 3.69% depending on the currencies involved, but are typically under 2%
Free ATM withdrawals up to $250 USD (or your currency’s equivalent) per month if you have the currency you’re withdrawing on your balance. After that, a 2% withdrawal fee will be charged
Can keep money in 50+ different currencies in your account
Real bank account details for the USA, UK, Eurozone, Australia, New Zealand, and Poland
Online account and customer support also available in Mandarin, Spanish, French, Portuguese, German, Italian, Russian, Turkish, Polish, Romanian, and Hungarian.
You need to have an address (no P.O. boxes) in one of the eligible countries to open an account. You can easily use a friend’s address when creating your account to receive the card and then change the address once you get it without any issues.
The Mastercard debit card is free, but you need to have a minimum of $20 USD (or the equivalent in another currency) in your account before you can order it unless you’re in Australia, in which case you don’t need a minimum balance to get the card.

And that’s all there is to it!

Having the right debit card while traveling can make a world of difference when it comes to all those annoying fees that most banks charge. Don’t be afraid to get a debit card from more than one bank on this list either! It doesn’t hurt to have the best option for every currency possible.

Let me know in the comments below if this guide helped you find the right debit card for your travels and if there are any similar or better cards or banks in your country, let me know so I can update the list!

And if you want to add a credit card to your wallet as well, check out my Guide to the Best Credit Cards for Traveling .

Sebastian, the travel expert and traveler who is also the creator of a travel website called Travel Done Simple

About The Author

Hi there, I’m Sebastian , founder and creator of Travel Done Simple. Since I turned 20, I have lived in 5 different countries and traveled to over 40 others! You can learn more about me on my About page and find me on social media.

I’m Sebastian , the founder and creator of Travel Done Simple! I was born in Europe and raised in Canada, but I now consider myself to be a citizen of the world. When I’m not busy exploring new destinations, I’m here giving you the best travel tips so you can do the same!

You can learn more about me on my About page and if it’s your first time on my site, start here !

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Best Debit Cards for International Travel

The first time I travelled to Europe solo was back in 2011 and I didn’t know much about avoiding fees on credit or debit cards back then.

I took my trusty debit card from my regional bank and paid $3.50 for every cash withdrawal in addition to whatever the local ATM charged. I also traveled with my trusty Chase Freedom Student Card (no longer available for applications) and paid a 3% foreign transaction fee on every purchase made on that card.

I don’t have the records for exactly how much I paid in fees on this trip, but knowing approximately how much I spent, I can estimate I paid over $150 in fees alone during this four-week trip .

With a lot more experience traveling abroad, I now consider a small group of cards to be the best debit cards for international travel , and I don’t leave the U.S. without at least two of these in my wallet (and sometimes three or four!). In this guide, I'll share them with you so that you can hopefully avoid the hefty fees I've been paying in the past.

Which Are The Debit Cards for International Travel?

The best debit cards for international travel have a few key features that we kept in mind. Since travellers will generally be using ATMs outside of their home country and often withdrawing money in foreign currencies, we primarily considered cards without foreign transaction fees or ATM withdrawal fees .

Some debit cards will even reimburse ATM fees charged by a local ATM.

For the real-world cost, we assume that you’re a digital nomad and frequent traveler who, on average, makes four ATM withdrawals of $250 each while traveling outside of the U.S. each month.

We assume that the rest of your purchases are made with a credit card that doesn’t charge foreign transaction fees. Of course, depending on your destination and digital nomad budget , these numbers could be much lower or higher, but this will give you an idea of what it would cost you to use each of the debit card options we’ve highlighted in this article

* Assuming all withdrawals were made during the week. Plus 1% for withdrawals made on the weekend.

** Assuming money is already in your Wise account.

If you’ve been traveling for a while, or even if you haven’t, you may have heard about Wise (previously Transfer Wise) . Wise is a great tool for transferring money to people in other countries and currencies, and also offers the Wise International Debit Card .

The Wise International Debit Card will automatically convert your USD to local currency at the mid-market exchange rate with no fee if you already have money in your Wise account . If you don’t, Wise will charge a small conversion fee .

You can withdraw up to $100 per month from overseas ATMs with no fee , after which Wise will charge 2% . This is in addition to the fee charged by the local ATM you use— Wise does not reimburse ATM fees charged by other banks.

Pros and cons:

Or read our Wise debit card review here:

Chime® is another online fintech company that makes sign-up quick and easy. The Chime Visa Debit Card * doesn’t have minimum balance requirements or monthly fees and offers fee-free ATM withdrawals at over 60,000 ATMs in the U.S.

For international travelers, Chime does not charge a transaction fee for foreign purchases. However, a $2.50 fee applies for withdrawals at out-of-network ATMs abroad, in addition to any fees that may be charged by the ATM provider.

3. Betterment Checking

Betterment Checking is a relative new-comer to the no-fee ATM withdrawals/ATM fee reimbursements space, and it’s well-worth consideration.

Betterment Checking’s Visa Debit Card reimburses unlimited ATM fees and doesn’t charge foreign currency conversion fees , and there’s no minimum account balance either.

For couples who travel together (or separately) and prefer to have a joint account , that’s an option with Betterment Checking.

4. Charles Schwab Investor Checking

Charles Schwab Investor Checking Debit Card

Charles Schwab Investor Checking was my first go-to when I learned that there were debit cards that reimburse ATM fees charged by other ATMs each month , in addition to not charging an ATM fee on its own.

To get this card, you’ll need to open a Charles Schwab Investor Checking account and a linked Charles Schwab Brokerage account, but as both have $0 minimums and no fees this additional account requirement isn’t a huge deal.

5. Fidelity Cash Management

Fidelity Cash Management is another account that I personally have and can recommend based on my experience. It’s a little bit different than the other accounts on this list because the Fidelity Cash Management account is a brokerage account that comes with a debit card .

One thing that’s nice about the Fidelity Cash Management account is that it will reimburse ATM fees on the same day as your ATM withdrawal , compared to the monthly reimbursement from Charle Schwab, that means you’ll get your money back a lot sooner . The flip side is that Fidelity charges a 1% foreign conversion fee on debit card purchases and some cash withdrawals at ATMs .

Revolut offers different kinds of memberships , some with a fee, but Revolut’s standard fee-free account also comes with a debit card that can be used abroad. The fees you’ll pay for regular transactions will depend on which account type you choose.

You may also be interested in:

The Bottom Line

Best debit cards for international travelers

If you’re planning to travel abroad for a few weeks, few months, or few years, you need to pick a debit card that will help you save money on foreign transaction/currency conversion fees and minimize the amount you spent on ATM fees.

Here’s our bottom line takeaway from each of the options outlined above:

Wise International Debit Card is ideal for travelers already holding funds in their Wise account, offering competitive conversion rates and low fees on the first $100 withdrawn monthly.
Chime offers simplicity and accessibility with its extensive network of fee-free ATMs in the U.S., though it falls short for international ATM withdrawals due to additional fees.
Betterment Checking and Charles Schwab Investor Checking both stand out by offering no foreign transaction fees, unlimited ATM fee reimbursements, making them excellent choices for frequent travellers who face varied banking needs abroad and seeking the absolute lowest cost.
Fidelity Cash Management offers a unique proposition with its daily ATM fee reimbursement, despite a small foreign conversion fee, which might appeal to those prioritizing immediate reimbursements or making small withdrawals.
Revolut provides flexible plans with its tiered account options, catering to diverse needs from basic to extensive travel benefits, though the fee structure can be complex.

There’s no single best option that will be the right fit for every single digital nomad, so you need to weigh the pros and cons of each to find the best fit for your travel style.

If you’re looking to choose your bank account based on more factors than just its debit card, check out our recommendations for the best bank accounts for digital nomads :

Ready to Optimise Your Finances With Your New Travel Debit Card?

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Wise card review for travel: fees, exchange rates, limits and how to use it, how to set up and manage an esim on iphone.

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Travel money card vs credit card vs debit card: which should you choose?

Key highlights

Whether you’re considering a family holiday in Bali or a romantic wine tour of Tuscany, how to best access and spend your money while overseas has likely come up during your travel planning.

Three of the most popular options for Australian travellers to facilitate their spending needs are travel money cards, credit cards and debit cards. So, with a plethora of options available to you, which is the best choice when travelling?

Read on to learn more about each option.

Travel cards, credit cards, and debit cards: A quick comparison

Compare credit cards.

Now let's delve deeper into each option to understand their specific benefits and drawbacks.

Travel money cards

A travel money card is a type of prepaid card specifically designed for use while traveling abroad. It allows you to load funds onto the card in one or more currencies, which you can then use to make purchases and withdraw cash at ATMs.

Essentially, a travel card functions similarly to a debit card, in that you deposit a certain amount into the account, and you don’t typically have a credit limit. However, unlike a debit or credit card , you can lock in an exchange rate at the time of depositing the funds and load multiple foreign currencies onto your account – which may be beneficial for multi-country trips.

Benefits of a travel money card

Some of the potential benefits of using a travel money card include:

Load multiple currencies

Travel money cards generally allow you to load multiple currencies. This could be beneficial if you’re travelling through multiple countries, as you won’t need to keep exchanging currency.

Lock in exchange rate

One of the key advantages of using a travel money card is the ability to lock in an exchange rate at the time you load money onto the card. This can be particularly beneficial when the exchange rate is favourable, protecting you against future fluctuations in the currency market. By locking in a rate, it’s possible to budget more effectively for your trip, knowing exactly how much you're spending in your home currency.

Potentially avoid ongoing currency conversion charges

As the money you deposit into the travel card is typically converted into the currency or currencies you need at the time of purchase, you may avoid paying ongoing currency conversion fees throughout the trip. However, there may be some fees charged by the issuer, including purchase or closure fees, overseas ATM fees and inactivity fees.

Relatively less risk if stolen

One of the biggest benefits of a travel money card is that it is not connected to your everyday banking accounts or personal financial details. Meaning, if your travel money card is stolen, while this can be inconvenient and highly frustrating, your main financial details and any linked financial products have not been compromised by criminals. Dealing with issues like identity theft can be much more challenging while overseas.

Issued by Visa and Mastercard

Travel money cards may be issued by Visa or Mastercard, so they have a high likelihood of acceptance around the world.

Drawbacks of a travel money card

While using a travel money card has several potential benefits, it’s worth considering the risks to make an informed choice. Some of the potential risks of using a travel money card include:

Associated fees

Even though you might save on ongoing currency conversion fees, be mindful of the other fees associated with the card, such as purchase fees, ATM withdrawal fees, or inactivity fees.

No credit facility

A travel money card gives you access to your preloaded funds and doesn't typically offer a credit limit.

Currency limitations

There might be restrictions on the specific currencies you can load, which could be inconvenient if you travel to a country with a less commonly supported currency.

Restrictions on pre-authorisations

Certain services, such as hotels and car rental companies, often require a pre-authorisation, where they temporarily hold a specific amount of funds as security before the actual transaction occurs. Some merchants may not accept travel money cards for pre-authorisations and might require a credit card instead.

Credit cards

A credit card provides access to a line of credit and works similarly to a debit card, but instead of drawing from your bank account, it allows you to borrow funds up to a predetermined credit limit (ranging from $2,000 to over $100,000). You are typically charged interest on the purchases you make, and any cash withdrawn from an ATM.

Benefits of a Credit Card

Credit cards, though potentially risky when not used responsibly, may offer various benefits and conveniences that can enhance your travel experience and serve as a financial safety net in emergencies. However, it's important to remember that credit cards can also lead to significant debt accumulation if balances are not paid off promptly each statement period.

Perks and freebies

Some credit cards are designed for overseas spending, and can offer customer perks like complimentary travel insurance, frequent flyer points earned on spending, access to airport lounges , and more. Some may also waive foreign transaction fees when spending overseas (or on overseas-based websites).

Sign-up bonuses

One of the biggest advantages of credit cards can be that you may earn bulk frequent flyer points on sign up that can be exchanged for flights, seat upgrades, accommodation, rental car hire, and more.

Widely accepted

Credit cards can be more widely accepted – particularly in hotels or at rental car hire lots – than travel money cards or debit cards. Some hotels may not let you book a room without offering your credit card details.

Emergency access to credit

Some travellers may opt to bring a credit card in case of emergencies, due to their wide acceptance and the access to credit provided.

Drawbacks of a credit card

Although a credit card can be a handy tool for managing expenses overseas, it's important to understand the risks, including potentially high fees and interest rates, as well as the temptation to overspend. Despite their potential benefits, credit cards may not be suitable for everyone.

Debt accumulation

It is very easy to accrue debt if you’re not diligent with paying off your balance in time each statement period, due to high interest rates and additional charges. While having greater access to credit you otherwise may not have in your bank account can be helpful when travelling, it can be easier to accrue debt if you don’t meet your repayments.

Credit requirements

Obtaining a credit card requires meeting specific criteria, including a hard credit check, which might affect your credit score .

Temptation to overspend

A credit card allows you to spend money up to a predetermined credit limit, but you need to repay that money with additional interest. While access to a line of credit can be handy during emergencies, it could easily snowball into debt if you're not careful, especially for those who lack impulse control while shopping or spending.

Potentially high fees and additional charges

When using credit cards internationally, be aware of potential currency conversion and international transaction fees, which can be as high as 3% per transaction or more. It's advisable to consult your card issuer about conditions that might waive these fees or to seek a card that does not impose them. Additionally, other charges such as monthly account-keeping, annual, and foreign transaction fees may apply, increasing the overall cost of using your credit card abroad.

Debit cards

A debit card is your humble, everyday bank card linked to a transaction account. Some travellers may simply opt to use their main bank card when spending overseas, as it is an accessible option compared to taking out a new travel card or credit card.

Benefits of a debit card

If you don’t want to go through the hassle of pre-loading a travel card and prefer not to use credit, you might choose to use your debit card to access funds while traveling. Here are some potential benefits of using a debit card for your expenses when traveling.

Many debit cards refund, or do not charge, overseas fees

Depending on your card issuer, you may not incur additional fees for transactions made in foreign currencies when using your card overseas, or any such fees may be reimbursed.

Global acceptance

Debit cards offered by Visa and Mastercard are widely accepted, ensuring easy access to funds and secure transactions globally.

Easily access and view your cash through apps and digital wallets

Using your debit card gives you full access to your funds and the convenience of managing your account through apps and digital wallets. These tools allow you to monitor transactions, check balances, and control your card settings, enhancing security and efficiency.

Access to all your funds, not just spending money

Unlike travel cards which must be loaded up ahead of time, opting for using a debit card means you’ll have access to all your funds, not just a small portion. Depending on your spending habits, this can be advantageous or risky.

Drawbacks of a debit card

While using a debit card for your holiday expenses is convenient, it's important to be aware of any associated risks before deciding.

Some foreign transaction fees may be charged

Debit cards may incur foreign transaction fees if you don’t do your research. This can include currency conversion fees and overseas ATM fees, which can climb up to 4% of every transaction. Meaning, if you spent $5,000 on your overseas holiday, your bank is pocketing at least $200 – the equivalent of an additional night’s stay for mid-level hotel accommodation. There are many debit cards and transaction accounts that do not charge these fees , so it’s worth doing your research before travelling.

Not every retailer accepts debit cards overseas

Even though debit cards are widely accepted, you may encounter issues with pre-authorisations, especially at some hotels and car rental companies. These merchants often specifically request credit cards.

Funds may stay on ‘hold’ longer

Hotels can put a ‘hold’ on funds when checking in, which can take weeks to return to your account, even after the payment for your stay has been deducted from your card.

If stolen, it may be more challenging to repair these damages

If your debit card is stolen, the thief could potentially access your entire account. Although most card issuers implement robust security protocols, recovering stolen funds can be challenging. It typically requires a comprehensive investigation by your bank, during which you may not have access to the stolen money.

So, which option to consider for spending your cash while travelling?

Ultimately, the best option for your overseas spending depends on your specific needs and budget. It’s worthwhile reviewing the benefits and drawbacks listed above and carefully thinking about the types of destinations you’re visiting and how you are likely to spend your money.

For example, if you’re going to a destination with a higher crime rating, it may be worthwhile bringing a card you’re less concerned about if it’s stolen, like a travel card. Or if you’re likely to be withdrawing cash frequently, a credit card that charges a high cash advance rate is likely to not suit you as much as a debit card with no foreign ATM fees.

Comparison tools, such as the tables on this page, may be helpful in allowing you to compare your options. See card types side by side, including any fees or interest rates charged, so you can compare apples with apples.

What are the best credit cards for travel?

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The Best Travel Credit and Debit Cards with No Foreign Transaction Fees (Updated 2022)

No matter where you go or how long you travel, using a credit or debit card with no foreign transaction fees is one of the easiest ways to save money while travelling, period.

Currency exchange booths at airports and banks can be convenient, but a lot of your money goes towards exchange fees (e.g. $10 per exchange) and hidden commissions padded into poor exchange rates (especially the booths advertising “no commissions”). With a bit of research and planning, you can save hundreds , if not thousands of dollars in fees over the long-term!

Credit and debit cards with no foreign transaction fees are the cheapest, easiest ways to get money and make payments overseas. Credit cards are accepted worldwide, and ATMs are internationally networked through the Visa/Plus and Mastercard/Cirrus networks. You enter your PIN and withdraw your cash just like you would at home, while the exchange rates are automatically handled by the banks.

However, some credit and debit cards are better than others! For the majority of cards, banks still try to add commissions and fees to each payment or ATM withdrawal made abroad. Even if you don't travel a lot, these fees add up quickly.

We've rounded up the best credit and debit cards around the world that minimize or eliminate these fees, putting more money back into your adventure funds!

NOTE: These are cards to be used overseas to avoid foreign transaction fees. For the best all around travel points cards, check out the travel rewards cards section of CardRatings , as well as our free guide “ How to Get Free Flights with Travel Credit Cards and Points “!

The best travel credit cards with no foreign transaction fees

Credit cards have various features that can make or break your travel savings. Ideally, these are the features to look for in a credit card:

Foreign transaction fee of 0%
Competitive points or cash-back rewards program (at least 1% of the purchase price)
Extra perks, like free car or travel insurance

The best credit card with no foreign transaction fees in Canada

You also earn 2x points on purchases at grocery stores, dining, entertainment, and daily transit. These categories are very broad, so a huge chunk of your purchases will be eligible for 2x points. Learn how to apply on the Scotiabank website.

Not from Canada? Check your country below to see what's best for you!

The best travel debit cards with no foreign transaction fees

These are the ideal features to look for in a debit card:

Foreign transaction rate of 0%
International ATM withdrawal fee of $0
Refund of third-party ATM withdrawal fees (This is rare, but it exists!)
Competitive points or cash-back rewards program (at least 1% of the purchase price)

Many banks around the world have come together to establish the Global ATM Alliance . If your card belongs to a bank in the alliance, you can make withdrawals from banks at other alliance member ATMs around the world without paying additional fees . Here's our roundup of the best debit cards for travel.

Essential tips for using debit and credit cards while travelling

1. pay using a credit card whenever possible..

Foreign ATMs can still inflate their exchange rates and charge withdrawal fees, but a direct credit card payment only involves the credit card you signed up with in your home country. And with a good points or cashback program, this beats any other method of foreign payment.

Bottom line? Always pay with a credit card, but NEVER withdraw cash from an ATM with one. Credit cards charge interest on cash advances from the moment you withdraw it at the ATM.

2. Never take the option of paying in your own currency

Card terminals at shops and hotels will often detect that your card is from another country and offer to bill you in your home currency. Never choose this option – always pay in the foreign currency! The exchange rate offered will be inflated by the card terminal, so if you’re using one of the credit cards recommended above, you will receive a much better exchange rate.

3. Inform your debit and credit card providers of your travels

Credit and debit cards are frequently being monitored by security departments for suspicious activity. If you're from the U.S. and you make an ATM withdrawal in Thailand when they don’t know you’re overseas, this could appear suspicious to your bank, and your card might be locked the next time you withdraw. Give your bank or credit card provider a call and let them know when and where you’ll be travelling. Take it from us – you do not want to be stuck without cash and a useless card!

4. Obtain at least one debit and credit card on each of the Visa/Plus and MasterCard/Cirrus networks.

Even if you follow the advice in tip #3, it’s possible your card could get locked anyway. On top of that, it’s easy to find yourself in a situation where an ATM accepts only one network and not the other. For example, when we travelled in Japan, the only ATMs we could find that would even accept international cards were at 7-Eleven, and they only worked with cards on the Visa/Plus network. I speak from experience – there’s nothing more stressful than needing more cash and not being able to withdraw it, so be prepared and bring multiple cards on multiple networks .

5. Consider a credit card with included insurance

The jury is still out on whether it's safe to rely on car and travel insurance that is sometimes provided by credit cards, and unfortunately, the only way to know for sure is to file a claim after the accident has happened. If you're concerned about insurance, its best to be safe and purchase it from the car rental company, but if not, you might as well pay with a credit card that offers car insurance and hope for the best if you do end up in an accident. We generally try to use American Express cards when thinking about insurance, as they are managing the insurance on the cards worldwide, whereas Visa/Mastercard insurance is often handled by the card's issuing bank, and may not be as straightforward to redeem.

6. Keep backup cards in your hotel room

If you lose all your credit and debit cards while overseas, you're going to be in quite the pickle. Always keep at least one extra card back at your accommodation in case your main card or entire wallet is lost or stolen while you're out.

7. Bring $100 USD as backup cash

When all else fails, U.S. dollars are the closest thing to a global currency that we have today. It's the most commonly accepted currency, not only at exchange booths, but even at shops and restaurants in other countries. If there are no ATMs in sight or your cards have been stolen, an emergency backup of U.S. dollars will get you out an emergency situation.

Do you have another card recommendation? Know something we don't? Write it in the comments below!

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Thrifty Nomads has partnered with CardRatings for our coverage of credit card products. Thrifty Nomads and CardRatings may receive a commission from card issuers. Opinions expressed here are author's alone. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Nice! This is really helpful thanks!

Great tips for travelers!

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What are the best U.S. debit and credit cards to use overseas?

Just got off a long phone call with HSBC Canada. They are unable to tell me what their card issuer exchange rate surcharge. I had just come back from Mexico and used my HSBC ATM card on a HSBC ATM machine and I calculated the fee to be about 2.1% based on that days interbank rate. Shouldn’t this fee be in the disclosure statements? There was a class action lawsuit I believe many years ago because the credit card companies failed to state their foreign exchange surcharge. From what I’m reading on the Global ATM website is that Visa is involved with the foreign exchange when using an ATM and it states they add a 2.5% foreign exchange fee. You didn’t show this in your nice graphics above. Is it berried in the base exchange rate?

We use Visa Avion, which is good in all categories but I believe they do charge a slight foreign transaction fee. But we have claimed through their default insurance, both car, health, and travel. All minor things, but ya, no issues. The card is not free however, and unless you spend a lot each month or travel frequently it’s not worth it. For us, the points for the business transactions transfer to personal, so it really adds up! (Currently we have more than enough to fly the entire family pretty much anywhere. ) When abroad we usually only use the card for car rental or nicer hotels and of course flights or trains and such (to access insurance benefits one must book the flight etc on that card…) But read the fine print, confirm with the agent. For example, usually to get car insurance you have to wave the rental companies insurance. (This saved us a ton in Africa!) The rental agencies will even phone and confirm if they don’t know the card. These cards were set up for frequent business travelers originally. But read the fine print too, I know our card covers 30 days from home, but you can add insurance to the card for longer trips too. It’s all through RBC, and like any blood sucking corporation there are advantages for the savvy but their ultimate goal is to get you to pay twice for the same thing. Read the fine print, phone your card agent, etc… But we honestly have found the Avion worth it for us because of the company points.

This info is super helpful! For Canadians, what about the Marriott Rewards® Premier Visa® Card? I’ve been looking into credit and debit cards for an upcoming trip to Southeast Asia, and came across this card today. From what I can tell, it seems pretty good (no foreign currency transaction charges and has perks). Anyone have any experience or thoughts on this card? Thanks!

so where do you find that tangerine thrive chequing account info? I have an account with tangerine and I can find no info on this animal on their website

3 Best Debit Cards for International Travel

Fidelity Cash Management
Schwab High Yield Investor Checking
Capital One 360 Checking

Frequently Asked Questions (FAQs)

There's a long checklist of things to be sure you've covered when you're traveling out of the country—like making sure you can spend money. Before jet-setting off to your next big destination, take a few extra steps to make sure you can access your funds if you need to without paying a ton of extra fees. For example, some debit cards charge a foreign ATM fee when you use an ATM in another country. You might also have to pay additional currency conversion or foreign transaction fees on each transaction you make. The best debit cards for international travel will help you reduce, or even eliminate, those fees.

Using a debit card over a credit card can be beneficial, because it's linked to your bank account. When you swipe, the funds are taken out of your checking account. That means you won't have to worry about repaying a credit card balance.

Using a debit card for international travel is useful for withdrawing local currency from an ATM for expenses like tipping or paying merchants who don't accept credit or debit cards. You wouldn't want to use a credit card at an ATM, since the transaction would be treated as a more expensive cash advance . So which are the best debit cards for international travel? Let's take a look.

Fidelity Cash Management Account

As a customer of the Fidelity Cash Management Account, you'll receive the Fidelity Visa Gold Check Card, which is one of the best debit cards for international travel. You'll pay a low 1% foreign transaction fee on transactions completed outside the United States.

You can also access more than one million ATMs worldwide and get reimbursed for ATM fees you're charged from other ATMs. EMV technology ensures that your information is safely transmitted when you're making purchases and withdrawals from ATMs, protecting your account from future fraud.

The card doesn't just save on ATM fees, it also includes a few extra perks that may come in handy while you're traveling internationally. With the Fidelity Visa Gold Check Card, you'll also get a 90-day extended warranty, travel and emergency assistance, worldwide travel accident insurance, and an auto rental collision damage waiver.

With the Fidelity Cash Management Account, you'll pay no monthly fees. You don't have to maintain a minimum monthly balance. Your deposits will be insured up to $1.25 million, which is more than traditional checking and savings accounts at other banks.

Schwab High Yield Investor Checking Account

With the Schwab High Yield Investor Checking account, you won't pay any fees on your checking account at all. That means no ATM fees when you use an ATM in another country, and no foreign currency conversion fee if you withdraw funds in another currency. Keep in mind that when you use an ATM outside your bank's network, the ATM operator may also charge you a fee.

You can't avoid the ATM fee, but Charles Schwab will refund it with no limits on the refunds. There are also no service fees or account minimums.

You'll need to open and link a Schwab One brokerage account, which can be opened and maintained with no fees. A brokerage account offers the ability to trade stocks, mutual funds, and other financial products.

Capital One 360 Checking Account

If you don't like the sound of opening a brokerage account, consider the Capital One 360 Checking Account for a debit card for international travel. Capital One doesn't charge a foreign transaction fee on transactions made in other currencies, which means you can use your debit card for purchases without paying for the currency conversion.

If you can locate a Capital One or Allpoint ATM while you're traveling, you won't have to pay an ATM fee on cash withdrawals either. The Allpoint network includes over 55,000 ATMs all over the world. You can download an app to your smartphone to locate an Allpoint ATM near you.

You can open a Capital One 360 Checking Account with no minimum deposits and no minimum balance requirements. You can also earn 0.10% APY on your balance.

Do you need to let your bank know when you travel with your debt card?

It's always a good idea to contact your bank before you use a debit card while traveling. Banks and credit card issuers try to protect you from fraud and will block transactions that look suspicious or outside your normal patterns of behavior. If you don't notify your bank that you'll be spending money far from home, your transactions may be declined, creating unnecessary headaches on your trip.

Should you travel with a debit card?

Yes. Your debit card gives you much-needed access to cash when you're traveling, and it allows you to carry less cash at any given time. You should, of course, be careful not to lose the card—and call your bank immediately to freeze it if you do.

Wells Fargo. " Wells Fargo Consumer and Business Account Fees ."

Capital One. " Is There a Fee When I Use My Debit Card Abroad? "

Discover Bank. " How to Avoid Common Credit Card Fees ."

Fidelity Investments. " Debit Card Agreement and Disclosure Statement ." Page 2.

Fidelity Investments. " Cash Management FAQs: ATM/Debit Card ."

Fidelity Investments. " Cash Management From Fidelity ."

Consumer Financial Protection Bureau. " Amendments to Disclosures at Automated Teller Machines (Regulation E) ," Page 2.

Charles Schwab Corporation. " Brokerage and Trading Account ."

Charles Schwab Corporation. " Schwab Bank High Yield Investor Checking® Account ."

Capital One. " Is There a Free When I Use My Debit Card Abroad ?"

Allpoint. " What is Allpoint? "

Capital One. " What’s a 360 Checking® Account? "

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Spending abroad: should you use a debit, credit or prepaid card.

If you’re going abroad and you don’t want to carry cash, you have three options: a debit card, a credit card or a prepaid card. Each has its pros and cons.

A decade ago, holiday prep tended to involve a trip to the bank or Post Office to buy your foreign currency and Traveller’s Cheques. Today, all you really need for a trip abroad is a debit, credit or prepaid currency card.

All three cards have their pros and cons so it’s worth arming yourself with the facts before deciding which is right for you.

Debit cards

Debit cards are easy and convenient and are accepted in most places. But they can be expensive to use abroad.

Only four current accounts don’t charge any foreign transaction fees for using a debit card abroad, according to financial data firm Defaqto.

Metro Bank, Monzo and Starling are all free accounts, while Nationwide Flexplus comes with a £13 monthly charge. Monzo and Starling are both app-only banks so may not suit you if you’re not smartphone-savvy.

If you plan to withdraw cash from atm services abroad, watch out for fees. Only four current accounts let you withdraw cash for free – Metro Bank, Nationwide Flexplus, Starling and Monzo (although Monzo only lets you withdraw £200 a month for free and then it charges 3%).

Analysis of the whole market by Defaqto shows debit cards are the most expensive way for travellers in Europe to spend, particularly for small purchases. A daily €5 breakfast of coffee and a croissant over a fortnight could end up costing a whopping £21 in addition to the €70 spent on your breakfast.

Credit cards

Credit cards are also an easy way of spending and are accepted by most retailers.

They offer the added benefit of extra security under Section 75 on purchases costing between £100 and £30,000, meaning you should get your money back if something goes wrong.

According to Defaqto, one in six credit cards don’t charge a fee for spending in Europe, although five of these cards charge an annual fee including Natwest Reward Black, RBS Reward Black and Santander All in One.

A big downside of using a credit card abroad is withdrawing cash can be eye-wateringly expense. There is typically a hefty withdrawal fee, and interest accumulates from the day the money is withdrawn.

See table below for a list of credit cards with no foreign transaction fees in Europe.

Prepaid cards

With a prepaid card, you load on the foreign currency of your choice so you can only ever spend the balance on the card.

You can continue to top up your card when you’re travelling using a debit card, smartphone app or current account link. While they aren’t as convenient as a debit or credit card, they can be a useful budgeting tool as they help you keep a close eye on your spending.

Fee structures vary depending on which provider you go with.

Revolut, for example, is virtually free to use abroad (ATM withdrawals are free up to £200 a month then a 2% fee applies).

But some providers (TUI, Asda Money, ICE, for example) charge fees to load money onto the card from a debit card either as a percentage of the amount or a flat fee of between 50p and £3.

One point to note: you may not be able to use your prepaid card for car hire and some petrol stations may not accept them.

Credit Cards with no foreign transaction fees in Europe

Manage everything directly in the N26 app. Set payment limits, change your PIN number and lock and unlock your card. All in real-time, with N26 Card. Click here to find out more .

Best Travel Cards with No Annual Fees [2024 Guide]: Debit & Credit Options

Travel cards are optimized for international use, with extras like ways to hold a foreign currency balance, extra rewards when you spend overseas, or easy ways to avoid foreign transaction fees.

Travel cards can be either debit or credit cards, and may be issued by major banks, card networks, or specialist non-bank alternatives like Wise or Revolut . Whichever you choose, picking a card with no annual fee can mean you get all the perks when you travel, but don’t have to pay ongoing costs.

This guide walks through 5 of the best travel cards with no annual fee for US customers, so you can see if any might fit your specific spending needs.

Key points: Best cards with no annual fees

Here are the cards we’ll investigate in more detail as we dive into the best travel cards with no annual fees:

Wise Travel Debit Card : Hold 40+ currencies, and spend with the mid-market exchange rate and low fees from 0.43% in 150+ countries
Revolut Travel Debit Card : Hold 25+ currencies, and pick your account plan to suit your needs and spending pattern – no-fee currency exchange available to fixed plan limits
Capital One 360 Debit Card: Spend internationally with no foreign transaction fee – and very few fees to worry about overall; network exchange rates apply
Bank of America Travel Rewards Travel Credit Card: Spend and earn rewards, with no foreign transaction fee and no annual fee
Discover Travel Credit Card: Travel credit card with no foreign transaction fee and extra perks like reward points that never expire

Go to Wise Go to Revolut

We’ll take a look at each provider more in detail, later.

Are there travel cards with no annual fee?

Yes, you can get travel cards without annual fees, including debit and credit cards. Generally travel cards have some features specific to international use, whether that’s ways to hold a foreign currency balance, no foreign transaction fees, or extra cash back when you spend overseas.

Picking a card with no annual fee – or no monthly fees – means you can use your card as and when you like, with no ongoing costs to cover. This guide looks at both debit and credit cards, including major bank options – and some alternatives you may like to consider, like Wise and Revolut.

Best international travel cards with no annual fees 2023

This guide walks through a selection of no annual fee travel cards from different provider types. We’ve got a couple of smart international debit cards from non-bank providers, plus a debit card from a major bank, and 2 travel credit cards. This gives a great overview into the options available for US customers – let’s start with a head to head comparison, and dive into the detail right after:

*Details correct at time of writing – 7th December 2023

Wise Travel Debit Card

Who is it for? Customers looking for low cost ways to hold, send, spend, and exchange 40+ currencies with a handy, low cost travel debit card

Wise is a specialist provider which has digital account options you can use to hold 40+ currencies and spend internationally with a linked debit card which is accepted globally.

Add money in USD and simply allow the card to make the conversion at the point of transaction, or convert your funds to the currency you need ahead of time. In either case you get the mid-market rate and low, transparent fees – plus some free ATM withdrawals globally every month.

Hold and exchange 40+ currencies
Manage your money with just your phone
Mid-market currency exchange with conversion fees as low as 0.43%
Spend in 150+ countries
No ongoing fees or minimum balance

Wise fees: 9 USD card order fee: 1.5 USD + 2% ATM fee once free withdrawals are exhausted; currency exchange from 0.43%

Here’s how to order your Wise card :

Register a Wise account online or in the Wise app
Add a currency balance in USD or another supported top up currency
Tap the Cards tab in the app, and follow the prompts to order your card
Complete any required verification step
Pay the one time fee, and your card will be mailed to you

Go to Wise Learn more: Wise card review

Revolut Travel Debit Card

Who is it for? Customers looking for a travel debit card for 25+ currencies, which also comes with extras like accounts for under 18s, and options to upgrade to an account with annual/monthly fees for more perks

Revolut offers various different account options for US customers, including the Standard plan which has no monthly or annual fee. If you’d prefer you can upgrade to an account with monthly costs, which also unlocks extra benefits and higher no fee transaction limits. This gives flexibility to pick the account that suits your spending habits.

All Revolut accounts can hold and exchange 25+ currencies, and come with a linked debit card for global spending. You’ll get mid-market exchange rates to your plan’s limits, then pay a 0.5% fair usage fee. There are also some no fee ATM withdrawals monthly with all accounts.

Hold and exchange 25+ currencies – all accounts have some no-fee currency conversion every month
Choose from an account with no monthly or annual fee, or upgrade to an account with ongoing fees if you’d rather
Get extras like accounts for younger family members and ways to save
In network ATM withdrawals have no fees; accounts have some no fee out of network withdrawals monthly

Go to Revolut

Revolut fees Standard plans have no monthly fee, Premium plans – 9.99 USD/month, Metal plans – 16.99 USD/month; Some no fee ATM withdrawals monthly, 2% fees after that; Mid-market rate currency exchange to plan limit; fair usage fee of 0.5% after that; 1% out of hours currency conversion fee

Here’s how to order your Revolut card :

Register a Revolut account in the Revolut app
Tap Cards, and then Add new
Complete your mailing details, and your card will be mailed to you

Capital One 360 Debit Card

Who is it for? Customers looking for a low fee checking account with no ongoing charges, and a debit card which has no foreign transaction fees

If you’d prefer a travel card which is linked to a checking account from a major US bank, the Capital One 360 account may appeal. It’s a low fee account, with very few transaction costs and no annual or monthly charge for either the card or the underlying account. You’ll not pay any foreign transaction fee, making this a good option for international use as well as home spending. Some features on this account – such as options to make international payments – may be limited, so it’s important to read through the terms and conditions carefully if you intend to use this as a primary checking account.

No fuss, low fee checking account from an established bank
No foreign transaction fee when you’re abroad
No monthly or annual fee to pay for the account or card
Get all the options you’d expect from a bank – additional services and products are easily available for existing customers

Capital One 360 Debit Card fees: 30 USD domestic wire fee, where available, international wires cost 30 USD – 40 USD; some fees for checking services apply

Here’s how to order your Capital One card:

Go to the Capital One website and hit Open Account
Enter your name, address and SSN
Add a balance
Once your balance is cleared and your identity is verified, your account will be opened and you’ll get your account and routing number

Go to Capital One

Bank of America Travel Rewards Card

Who is it for? Customers looking for a no annual fee, no foreign transaction fee credit card with reward options and great global acceptance

The Bank of America Travel Rewards Card offers rewards on spending, which you can trade in for flights, hotel stays, vacation rentals, baggage fees, and at restaurants. There are attractive opening offers – at the time of writing these include extra bonus points for new customers and an initial 0% APR. After any opening offers expire, you’ll pay a variable interest on your spending if you don’t repay your bill in full every period, and as with other credit cards, penalty fees may apply if you miss a payment or don’t pay at least the minimum required amount.

No annual fee and no foreign transaction fee – making this good for overseas use
Great offers for new customers, including reduced costs and extra bonus points
Trade in your rewards flexible, for a good range of treats and practical items
Relatively low cash advance fees – but still more costly than using a debit card

Bank of America Travel Rewards Card fees: 18.24% – 28.24% variable APR after introductory offer; 3% cash advance fee

Here’s how to order your Bank of America card:

Go to the Bank of America website and hit Apply now
Enter your personal and contact information
Follow the prompts to enter the details needed for eligibility checks
Once your account is approved, you’ll be sent your card in the mail

Discover Travel Credit Card

Who is it for? Customers looking for a travel credit card with great rewards which have flexible redemption options

Discover doesn’t have foreign transaction fees on any of its cards – but we’ve picked out this one in particular as the reward options can be cashed in for travel credit, or cash to make your foreign travel that bit more luxurious. There’s no annual fee, but it’s worth bearing in mind that the cash advance fees are pretty high so you may decide not to use this card to get cash from an ATM to cut your costs overall. Discover isn’t the most popular global network – so it’s also worth checking if it’s commonly available in your destination.

No foreign transaction fee and no annual fee to pay
Good reward options including bonus perks for new customers
Cash in your rewards for different things, depending on your personal preference
Get access to your FICO credit score as part of the package

Discover Travel Credit Card fees: 17.24% to 28.24% variable APR after introductory offer; 10 USD or 5% cash advance fee

Here’s how to order your Discover card:

Go to the Discover website and hit Apply now

Go to Discover

How can you avoid paying an annual fee?

Avoiding annual fees can keep down the costs of your spending overall, and allow you to get a card which you use primarily when you travel, with no extra charges to worry about.

Here are a few tips to help you pick out the right travel card:

Look out for debit or prepaid cards in particular – as they often don’t have any annual fee
Read your card’s terms and conditions carefully to make sure you’re not caught out by surprise ongoing costs
See if you can find a card which waives the annual fee for new customers – this can be a low risk way to see if a travel card suits your needs
Pick a card from a non-bank alternative like Wise or Revolut which both have account options with no annual or ongoing fees

How do no-annual-fee travel cards work?

A no annual fee travel card allows you to get your card without paying fixed annual, monthly or ongoing charges. You’ll still find some fees apply in most cases – for example, a one time order fee or a card delivery fee, or fees based on how you transact. However, the advantage here is that you can choose a card which only charges you for the specific services you need, so you can use it as and when you need to without having fees to pay when the card is simply sitting at home.

Pros and cons of no annual fee travel cards

No ongoing charges so just pay the for transactions and services you use
Cut the costs of international spending
Cards are convenient and safe to use, at home and abroad
Travel cards have international benefits, which can include multi-currency balances and no foreign transaction fees
Cards are available from banks, direct from card networks, and from non-bank alternatives – giving you a great range to choose from
You may not get all the features and benefits you would with a card which has annual fees
Transaction fees still apply, which can include cash advance or currency conversion charges
You’ll need to complete your application for a new card, and wait for it to arrive in most cases – it’s not an instant option

How to get a travel card with no annual fees

Each travel card has its own application process, but in most cases you can order your card online or in an app, and complete all the verification and eligibility checks needed with nothing more than your laptop or phone.

Here’s what you’re likely to need to do to get a travel card with no annual fees:

Research which card provider might suit your specific needs
Go to the provider’s app or website and hit Open Account, or Register
Enter your personal and contact information – usually name, address and SSN
Complete any verification or eligibility checks needed
Add a balance if you’re ordering a debit card
Once everything is checked and approved, your account will be opened and you’ll get all you need to use and manage your card by mail

How to choose the best card for your travel

The right travel card for your needs will depend on how you plan to use it – including how frequently you’ll transact, how often you’ll be transacting overseas, and whether you prefer a debit or credit card. Here are a few things to consider:

If you’ll travel often: Picking a card that lets you hold multi-currency balances – like the Wise or Revolut cards – can reduce the costs of spending in multiple different currencies, without ongoing fees

If you’ll only use your card occasionally: No annual fee cards can be the best bet, particularly debit cards which tend to be cheaper and more flexible overall

If you want to spread the costs of travel: You’ll want to prioritize credit cards, but look carefully at the interest, including any introductory offers which may help you to reduce costs in the short term

If you want to reduce your costs as much as possible: Debit cards are usually cheaper overall than credit cards, and you can’t accidentally spend more than planned or run up an unexpected bill.

Related: Best travel cards without foreign transaction fees

No annual fee travel cards can offer lots of benefits for anyone who travels frequently – but because there are no ongoing costs, they’re also super helpful for people who only occasionally transact internationally. You’ll only pay for the services you need, and many card providers also have ways to upgrade if you find you use your card regularly and would prefer to pay ongoing charges to unlock more benefits.

If you’re thinking of a debit card which has low costs and lets you hold foreign currency balances, check out the Wise Travel Debit Card which is flexible enough to hold and exchange 40+ currencies, and offers mid-market exchange rates and low, transparent fees. Or if you want to spread the costs of travel over a few months, you might prefer a travel credit card like the Bank of America Travel Rewards Card . You’ll earn rewards as you spend, and although there will be interest to pay, this does allow you to pay back your costs gradually if you choose to.

Use this guide to get you started in picking the right no annual fee travel card for your needs.

FAQs: No annual fee travel cards

Why do some cards have annual fees.

Different travel cards are designed for different customer needs. You’ll be able to find some with no annual fees, such as the flexible debit cards from Wise and Revolut – but if you’re a frequent card user you might prefer a card with an annual fee which can also often have extra perks and benefits as part of the package.

Is a travel card with an annual fee worth it?

Whether or not a travel card will be worthwhile for you depends on how often you travel and how you prefer to manage your money. The benefit of a no annual fee card is that you can test it out with little risk – check out the no annual fee options from Wise and Revolut if you want a flexible debit card which has no ongoing costs and low service charges.

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When to Use Debit vs. Credit

Article Summary

Credit cards and debit cards offer convenient ways to pay.
Each works best in different situations and for different customer types.
Knowing which to choose requires an understanding of the card agreement.

Credit and debit cards provide a quick and easy way to pay for items in-store and online. However, each offers different benefits for the buyer.

Whether you want to buy a cup of coffee or finance a large home remodeling purchase, knowing the strengths of each can help you manage funds and avoid paying additional fees.

We explain how each financial tool works to help you get the most from your money.

Understanding the Basics

Banks issue debit and credit cards , usually as small, thin pieces of plastic that get swiped or tapped at a retailer’s payment terminal. However, it’s possible to use these strictly in their digital form, too. Virtual cards allow consumers to input card numbers along with some additional information to pay for things online or through a mobile app.

What’s a Credit Card?

Beyond these similarities, a credit card connects to a line of credit through an issuing bank. A credit limit is imposed, placing a cap on a consumer's spending, and the balance must be paid back over time. Interest accrues if the cardholder doesn't pay back the full amount immediately. The cardholder ultimately pays back the balance plus interest, if any accrues.

What’s a Debit Card?

Debit cards , conversely, connect to a cardholder's deposit account (most often a checking account). Each time the debit card is used, the account balance updates accordingly, and the account holder can only spend what's available as cash in their account. There's no line of credit — the account holder generally can't borrow money to fund purchases. As a result, there's no interest to pay.

When To Prefer a Debit Card

According to the Federal Reserve, U.S. consumers use debit cards for approximately 56% of card payments, totaling 87.8 billion payments annually. [1] This popular method of payment offers several advantages over credit in certain scenarios.

Small Daily Purchases

As society moves to a more digital payment environment, pulling out a debit card for small purchases, such as your daily cup of coffee, may be easier. In these situations, debit cards may be ideal since they typically come with lower merchant fees. Some retailers may even refuse to accept credit cards for purchases under $10, making the debit card the only digital payment method available. [2]

To Avoid Overspending and Debt

Because each debit card transaction immediately comes out of the attached checking account, it's easy to see how much money is left in real-time. Consumers closely watching their budget or hoping to get out of debt may find the debit card helps them achieve their goals. There’s no credit line attached to a debit card, so repeated use won’t put the user into deeper debt.

Scenarios Where Credit Cards Excel

As great as debit cards can be, credit cards do have benefits. Customers often find that credit cards work best in the following situations.

Large Purchases

Using credit cards for big purchases, such as a $1,000 lawn mower, provides shoppers with some additional peace of mind. Unlike many debit cards, most credit card accounts offer some degree of purchase assurance. Customers unsatisfied with a purchase may find it easier to return merchandise and get their money refunded using a credit card. Even if it takes days or weeks to get the refund, that money isn't being held from a personal checking account when it might be needed for other things.

Because retailers can hold deposit funds for purchases like rental cars, using credit in these scenarios keeps the consumer's cash-free until the car has been returned safely.

Online Shopping

Using credit cards for internet purchases offers some perks, such as enhanced purchase protection and zero fraud liability coverage. If the card number ends up in a data breach, the criminals can only take money from a credit account, which will likely be reimbursed after the fraud investigation.

Debit cards, however, don’t usually offer the same level of protection. If the card gets compromised online, it could take minutes for thieves to drain the connected checking account and days to resolve the issue. This means that the customer is unable to access the missing cash while the matter is being resolved.

Seeing the world can be fun and rewarding, but it comes with some risks, too. A credit card grants additional protection if that card is lost or stolen. Foreign transaction fees can be lowered or waived entirely depending on the credit card, making it cheaper to shop abroad. With travel credit cards' rewards, it's also easy to earn cash back on airfare, hotel stays, and dinners out.

Analyzing Fees, Rewards, and Protections

The best way to know which card is right in each scenario is to fully understand what each card offers. No two debit cards are exactly alike, and each credit card has a range of benefits unique to that card. It’s important to read the terms of each contract to understand the full details.

Understanding Fees: Annual, Transaction, and Overdraft

While debit cards can have lower fees, they aren't completely fee-free. Things to ask about before getting one include:

Overdraft fees.
Non-network ATM fees.
Foreign transaction fees.

Credit cards may have many more fees, including:

Annual fees.
Balance transfer fees.
Interest charges.
Late payment fees.
Over-limit fees.
Returned payment fees.
Cash advance fees/ATM fees.

Credit cards may waive some of these fees for a limited time, usually to entice consumers to try them out. Read the full terms of service to see what fees apply after the introductory offer.

Comparing Rewards: Cash Back, Points, and Perks

While debit cards haven’t traditionally offered rewards, times are changing. Some pay a small percentage of purchases in categories like fuel or groceries.

However, credit cards generally offer more attractive cash back and points-based offers. They can pay up to 5% back on purchases and offer additional bonuses like a statement credit for streaming services or preferred technology providers.

Because the type and amount of credit card awards change so frequently, it can take some research to find the one best suited for your shopping habits. Be sure to factor in the cost of financing any purchases that can’t be paid off in full each month. The interest you accrue is usually more than the value of any rewards earned from credit cards.

Making Informed Decisions on Debit vs Credit Use

Knowing whether to use credit or debit cards depends on the situation. Buying a cup of coffee will require a different approach than financing that next trip to Europe. It also depends on the personality and goals of each consumer. Some shoppers will never want to put items on credit to avoid getting further into debt.

Others find the protections and perks of credit cards so attractive that they will put everything on them and pay them off each month (or week).

Whatever the approach, it’s important to be informed. Carefully read the terms of each card to understand what’s offered and what benefits cost to your bottom line.

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Important Legal Disclosures and Information

1. Federal Reserve Payment Systems Report, Accessed May 19, 2024 https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm

2. Federal Trade Commission, New Rules on Electronic Payments Lower Costs for Retailers, September 2011 https://www.ftc.gov/business-guidance/resources/new-rules-electronic-payments-lower-costs-retailers

PNC Bank, National Association Member FDIC .

These articles are for general information purposes only and are not intended to provide legal, tax, accounting or financial advice. PNC urges its customers to do independent research and to consult with financial and legal professionals before making any financial decisions. This site may provide reference to Internet sites as a convenience to our readers. While PNC endeavors to provide resources that are reputable and safe, we cannot be held responsible for the information, products or services obtained on such sites and will not be liable for any damages arising from your access to such sites. The content, accuracy, opinions expressed and links provided by these resources are not investigated, verified, monitored or endorsed by PNC.

Credit cards 101: The beginner's guide

Editor's Note

Here at TPG, we love credit cards . We've experienced the power of redeeming credit card rewards, and we want to help everyone else have that great experience.

But if you're new to the world of credit cards, reading a credit card application (or even a review ) can make you feel like you missed a course somewhere everyone else appears to have taken. If that's you, you're in the right place.

Below, we're taking the mystery out of credit cards. We cover everything from terms to types of credit cards and even breaking down a credit card bill. So settle in, maybe grab a notepad, and let's get into it.

Credit card debt

Before we go over anything else, it's important to note that while we're huge fans of credit cards at TPG, we never recommend carrying a balance on a credit card. Carrying a balance means you'll be charged interest, which costs you far more than the value you'll get from any rewards you earn.

If you're considering getting a credit card, first make sure you have a plan to stick to your budget and pay off your card balance each month. Never charge a purchase to a credit card unless you're 110% sure you can pay it off when your bill is due.

Related: Credit card debt hits new record of over $1 trillion — here's how to consolidate and pay off your debt

Credit scores

A credit score is a number — usually between 300 and 850 — that potential lenders use to determine their risk in lending you money.

Your credit score is made up of numerous factors, including payment history, the amount you owe and new credit opened. You must borrow and pay it back on time to build and keep a good credit score. Using your credit card and paying your balance in full each month is a great way to improve your credit score .

When you apply for any type of credit, including a credit card, the potential lender will check your credit score to help them decide whether or not to approve your application. Typically, the best rewards cards require good to excellent credit scores for approval.

However, if your score is less than stellar, don't worry. We can show you how to improve your credit score and how to earn rewards while you're improving your credit .

Related: How to check your credit score for free

Debit vs. credit cards

When you use a debit card, money is pulled directly from your bank account to cover your purchase. That's why your $1,000 purchase will be declined if you only have $500 in your bank account.

However, when you use a credit card, you borrow money from the credit card company to make your purchase. When you pay off your balance, you're paying them back for your loan. If you fail to pay within the given time frame (typically around a month), you'll be charged fees and interest, and your credit score will drop.

The main benefit of using a debit card is that it keeps you from overspending. If you use a credit card responsibly, however, you'll earn rewards, get additional benefits and improve your credit score.

Related: Why a credit card is a smarter choice than a debit card

How to read your credit card bill

The terms, dates and different numbers on a credit card bill can make reading one feel like a decoding activity. But the good news is that the code is easily broken by understanding some key terms.

First, let's clarify the terms "bill" and "statement." Before we had access to online banking, cardholders would receive a paper statement (aka bill — the terms are used interchangeably) in the mail each month. That statement would outline the cardholder's charges for the billing period (the time since the last bill), statement balance (amount the cardholder charged during the billing period), minimum payment amount and payment due date.

Now, we have the luxury of checking our accounts online at any time. We still have statements that reflect our billing periods, but we can also see the transactions we've made since our last statement. This extra information is nice, but it can make things a bit confusing.

Here's a breakdown of what you might see when you log in to your online account:

The statement balance is the amount charged during your most recent billing period. You must pay this amount by the due date to avoid being charged interest or late payment fees.

The due date for your billing cycle will depend on your respective card (you can find this information in your terms and conditions).

So, in the example above, the cardholder needs to pay their statement balance of $89.86 by the due date of Nov. 22 to avoid being charged any fees.

The minimum payment is the lowest amount you can pay by the due date to avoid being charged a late payment fee. However, if you only pay the minimum payment (or anything lower than the full statement balance), you'll carry a balance over to the next billing period and be charged interest on that amount.

The "total balance" refers to the entire amount that you owe on your card: the statement balance from the previous month, along with any charges that have been made since that billing cycle closed. In this example, the cardholder has charged $11.44 since the closing date, so the total balance is the statement balance of $89.85 plus the recent charges of $11.44. The cardholder can pay the total balance, but they can also just pay the statement balance and still avoid paying any fees. If they do this, the $11.44 will show up on the next bill, which they'll have to pay the next month.

Another number you'll likely see is "available credit," which is the amount left in your credit limit. This number will fluctuate as you pay off your balance or charge more to your balance. For example, if this user's credit limit were $4,000, their available credit would be $3,898.70 (the total balance of $101.30 subtracted from the credit limit of $4,000). Try not to max out your credit limit, as your card will be denied or be charged an over-the-limit fee if you charge more than your credit limit affords.

Related: After 15 years, why the Chase Sapphire Preferred should still be your first rewards card

Rates and fees

Now that you understand how to pay your credit card bill, let's review all the essential fees a credit card company might charge.

Annual percentage rate (APR): The interest rate charged for the entire year. There are various types of APRs, including balance transfer, cash advance, penalty and purchase APRs. The most common APR type is your purchase APR, which is the monthly interest rate charged to your credit card balance if you fail to pay off your statement balance in time.
Introductory APR offer: A reduced APR for a defined period can help you avoid additional interest charges on purchases and balance transfers.
Annual fee: The cost of owning your card, charged once per year. Some cards have no annual fees, while others can charge $550 (or more) per year.

Foreign transaction fee: The amount charged to your account when paying with a foreign currency. Some credit cards waive foreign transaction fees, while others can charge fees — usually up to 3% of each transaction.
Late payment fee: The amount charged to your account when you fail to pay the minimum payment by your payment date. In addition to the penalty APR charged to your balance, you'll also be charged a late payment fee.
Over-the-credit limit fee: The amount charged to your account when you exceed the credit limit defined on your card.
Return payment fee: The amount charged to your account when the payment method you provided for your credit card statement fails or bounces for reasons such as insufficient funds, account freezes or closures.

Related: How to choose a credit card with 0% APR

Types of credit cards

If you're new to credit cards, the sheer volume of options can feel overwhelming. It helps to narrow your search by first determining which type of credit card you want.

Here are the most common credit card types.

General travel

These credit cards earn travel rewards and come with travel perks that aren't tied to any airline or hotel brand. They typically earn transferable rewards, which are our favorite type due to their high value and flexibility.

These cards also usually come with general travel benefits, such as travel insurance , TSA PreCheck/Global Entry credits and airport lounge access .

For our top picks, check out our full list of the best travel credit cards .

Related: Why transferable points are worth more than other rewards

Airline credit cards are cards tied to one specific airline. You'll earn rewards in the form of that airline's points or miles and get perks tied to the airline, such as free checked bags, automatic elite status and airport lounge access.

For our favorites, check out our full list of the best airline credit cards .

Hotel credit cards are tied to a specific hotel brand. You'll earn rewards in the form of points that you can use for any hotel within that brand, and you'll get perks like free nights and automatic elite status.

For some great hotel cards, check out our full list of the best hotel credit cards .

Cash-back cards are usually the simplest in terms of earning and redeeming. With a cash-back card, you'll earn a percentage of your purchase back in rewards. Then, you can redeem your rewards for cash — either as a statement credit, a check in the mail or a direct deposit into an eligible checking or savings account, depending on the issuer.

To see some of our favorite cash-back cards, check out our full list of the best cash-back credit cards .

Related: How to choose a cash-back credit card

A secured credit card is a good option if you have limited credit history or a low credit score. With a secured card, you'll pay a security deposit when you open the card, which functions as insurance for the credit card company.

Generally, these don't earn rewards, but they're a good way to build your credit and increase your chances of being approved for a rewards credit card later on.

For some great options, check out our full list of the best secured credit cards .

Related: My 1st-year journey into the world of cards and points

A student credit card is for — you guessed it— college students. They're designed to help students build credit, good financial habits and a relationship with a bank so they'll be ready for a more advanced credit card when they graduate.

These tend to earn minimal rewards, but they're a great option for students to ease into the world of credit cards.

For some student-focused options, check out our full list of the best credit cards for college students .

Related: Why the Citi Rewards+ is great for college students

Authorized user

An authorized user is someone who has been added to an existing credit card account by the primary account holder. An authorized user has full spending abilities on their credit card but usually has limited benefits .

If you're having trouble getting approved for a credit card, being added to someone else's account as an authorized user can help your credit score.

Related: Have good credit? Share it with an authorized user

Earning rewards

Each rewards card earns a type of rewards "currency." The American Express® Gold Card earns transferable American Express Membership Rewards points , for example, while the Citi® / AAdvantage® Platinum Select® World Elite Mastercard® earns American Airlines AAdvantage miles and the Hilton Honors American Express Surpass® Card earns Hilton Honors points . These currencies have different values, so check out our TPG valuations chart to get an idea of what each rewards type is worth.

Your card's earning rate and spending habits determine the amount of rewards you'll earn. Some cards earn at a fixed rate , meaning they earn the same amount on all purchases. The Capital One Venture Rewards Credit Card , which earns 2 Capital One miles per dollar spent, and the Citi Double Cash® Card (see rates and fees ), which earns 2% cash back on all purchases (1% when you buy and 1% as you pay), are both examples of cards that earn at a fixed rate.

Other cards have bonus-earning categories. The Chase Sapphire Preferred® Card , for example, earns 3 Ultimate Rewards points per dollar spent on dining , popular streaming services and grocery delivery purchases, as well as 2 points per dollar spent on travel purchases. On all other purchases, it earns 1 point per dollar spent.

Additionally, many rewards cards come with a welcome bonus that can be really valuable (we're talking hundreds or thousands of dollars in value). To earn the welcome bonus, you'll need to spend a certain amount of money in a given period of time.

The information for the Citi® / AAdvantage® Platinum Select® World Elite Mastercard® has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Related: The best credit cards for each bonus category

Credit card best practices

You may have heard that credit cards should be avoided because they can get you into serious trouble. Although you won't hear us tell you to avoid credit cards, we only condone responsible credit card use.

Here are some of the best credit card practices that we live by.

Always pay your balance on time and in full. It may seem like we're heavily emphasizing this point, but for good reason. Not only will you negate any points and miles you earn if you start to accrue interest charges, but carrying a balance can get you into significant debt quickly.

Credit cards are not free money, so never charge more than you can afford. Similarly, remember that you'll owe the statement balance on your card each month. Budget and manage your credit wisely so your finances don't get out of hand.

Understand credit card application restrictions. You may be tempted to dive into the deep end of credit card rewards immediately, but it's best to take it slowly. In addition to giving yourself time to find a credit card budget system that works best for you, know that some issuers have their own set of restrictions . It pays to be thoughtful and have a longer-term plan before you apply for a credit card.

Wait at least three months (ideally, six months or longer) between card applications. Opening new lines of credit impacts your credit score, and it's a red flag you apply for new cards too quickly. Pace yourself by earning a card's sign-up bonus and taking some time to learn how well the card matches your lifestyle. Then, you can choose your next card based on what will complement that card (and any others in your wallet).

Think twice before canceling a credit card. As you add more cards to your portfolio, you might be tempted to cancel the ones you aren't reaching for as often. However, if a card has no annual fee, there's no harm in keeping the card in your wallet — potentially forever. Length of credit is a factor in your credit score, so keeping your earliest cards open helps increase your credit history and, therefore, your credit score.

Related: TPG's 10 commandments of credit card rewards

Building a points-and-miles strategy

Now that you have a baseline understanding of credit cards, it's time to choose your card.

Don't feel like you need to have a strategy in place right now. If you're overwhelmed by the types of rewards, you can start small with a cash-back card to solidify your good credit habits and enjoy simple rewards redemptions.

But if you do have a dream trip in mind, you can set your sights on a travel rewards card that will help make that dream a reality.

When you're ready to think about a points-and-miles strategy, check out our TPG guide to getting started with points and miles to travel .

Bottom line

Congratulations! You're armed with the terms and knowledge you need to research, apply for and responsibly use a credit card.

Now, take a look at our recommendations of the best first credit cards and use the knowledge you've gained here to help you choose the one that fits your spending habits and rewards goals. We'll be here for you as you go through every step of your credit card journey.

Introduction to credit card travel insurance and standalone travel insurance
What are credit card travel protections?
What is travel insurance?
Credit card travel protection vs. standalone travel insurance
Frequently asked questions

Credit Card Travel Insurance vs Travel Insurance: A Comparative Guide

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

Travel insurance and some credit cards can protect you from financial loss while traveling.
Travel insurance offers more comprehensive coverage that includes emergency medical expenses.
Credit card travel protection has more gaps but comes at no additional cost for cardholders.

Anything can happen while traveling. Flight delays, lost luggage, or even unexpected injury or illness can interrupt your vacation. When these things occur, travel insurance or the travel protections included with your premium credit card may be able to help, providing medical coverage, offsetting your financial losses, or even reimbursing you fully.

But do you need both travel insurance and credit card travel protections? Here are details on both and tips for deciding what the best travel insurance is for you.

Introduction to credit card travel insurance and stand-alone travel insurance

Many credit cards offer travel protections that can help you in certain unexpected travel situations. But they aren't exactly the same as a separate travel insurance policy.

Here's how the two differ at a high level:

Travel insurance: Travel insurance is coverage that you purchase for a single trip or multiple trips in a year. It typically covers the costs associated with trip cancellation, trip delays, medical emergencies, and other unforeseen events that may occur while traveling.
Credit card travel protections: These are benefits automatically included with certain consumer credit cards. They often provide coverage for delays, lost baggage, rental car collisions, and other events during travel. Credit cards sometimes advertise these protections as a type of travel insurance, though they're not a separate insurance policy.

Generally speaking, designated travel insurance is more exhaustive than the protections offered by a credit card. Still, it's worth it to compare both options, particularly if you're taking an expensive trip.

"It is always wise to check your credit card protection against a travel insurance plan," says Carol Mueller, a vice president at Berkshire Hathaway Travel Protection . "Credit card protection may not include the full, bundled, comprehensive coverage a travel insurance plan would."

What is credit card travel insurance ?

Many premium credit cards offer travel protections to cardholders, but the exact coverages depend on the credit card. Typically, only trips booked with that card qualify for coverage.

"Credit card travel insurance has one big advantage that interests travelers: it's usually free or included in the card's annual fee," says Daniel Durazo, director of external communications at Allianz Travel Insurance , a travel insurance provider. "Credit cards' travel benefits can be useful for smaller things, like travel delays or lost bags, but only travel insurance provides reliable protection in real emergencies, like expensive medical emergencies such as hospital visits and evacuations."

In some cases, however, a credit card may cover catastrophic accidents. The Chase Sapphire Reserve, for example, offers up to $1,000,000 worth of coverage for an accident that causes loss of life, speech, hearing, or use of a hand, among other life-altering injuries.

Additionally, credit card coverage limits tend to be much lower. The Chase Sapphire Reserve® offers up to $20,000 per trip in cancellation coverage, while a basic travel insurance plan from Travel Guard offers five times as much coverage.

Pros and cons of credit card travel protection

What is stand-alone travel insurance .

Travel insurance protects you from financial losses related to travel. "There are three main areas of coverage: protecting yourself, protecting your personal items, and protecting your investment," says Christina Tunnah, general manager of Americas and global marketing at World Nomads Travel Insurance , a travel insurance and safety services provider.

Travel insurance works much like any other insurance policy. When a covered event occurs, like your trip is canceled or you're hurt while traveling, you file a claim with your insurer. If accepted, the company reimburses you for the costs up to your coverage limits.

"Most people have no idea that their health insurance does not cover them abroad," says Shane Mahoney, founder of Lugos Travel, a travel advisory. "So, a broken arm from a slip and fall or a heart attack can be financially devastating."

Travel insurance customers typically have 90 days to file their claim. But once the event occurs, there's no waiting period, meaning travelers should file as soon as possible.

A major factor when filing a successful claim is proof of financial loss. You can use something as simple as a medical clinic receipt or a doctor's medical statement. Once the claim has been reviewed and approved, your insurer will reimburse you via check. Some modern travel insurance companies offer immediate payment via a debit card mailed to travelers before their trip.

Travel insurance providers go beyond your standard credit card or airline coverage. You can buy policies that cover sports equipment, medical, and other coverages. You can also buy Cancel for Any Reason insurance, which covers trip cancellations regardless of the reason. The best CFAR insurance can cover 100% of your costs, but many only cover a percentage.

Buyers can also price out annual travel insurance plans , which cover all of your trips within a 12-month period. Meghan Walch, director of the InsureMyTrip website, estimates a 4% and 10% travel insurance cost based on your total prepaid, nonrefundable trip costs. If you're buying an annual policy, this figure will change.

Pros and cons of stand-alone travel insurance

Credit card travel protection vs. stand-alone travel insurance.

Deciding between stand-alone travel insurance and credit card travel protection can be difficult. That said, it's worth mentioning that these choices aren't mutually exclusive. Even if you have a credit card that provides travel protection, you can still opt for additional coverage with a stand-alone travel insurance policy.

Cost considerations

The obvious difference between credit card insurance and a stand-alone policy is the cost. While credit card insurance is usually included in the cost of the card, traditional travel insurance is an additional expense, usually between 5% to 6% of the trip's worth, though rates can range from 4% to 12%.

However, travel insurance may pay for itself, covering emergency medical expenses and evacuation."Most people have no idea that their health insurance does not cover them abroad," says Shane Mahoney, founder of travel advisory company Lugos Travel. "So, a broken arm from a slip and fall or a heart attack can be financially devastating."

On the other hand, credit card travel protections don't come at any additional costs. However, many of the best travel credit cards come with annual fees. Additionally, a credit card's travel protection only applies to trips you book with that credit card. If you don't pay off the credit card immediately, you'll pay interest on your trip.

If you don't already have a credit card with travel insurance included, you'll also have to determine if the coverage is worth applying for a new credit card.

Comparing coverage and benefits

In most instances, traditional travel insurance policies will have more comprehensive coverage than credit card travel insurance. They'll cover more reasons for trip cancellation, and some may cover cancellations for no reason. They'll also cover medical emergencies, while credit card travel protections don't.

"Some travel insurance policies also provide epidemic coverage endorsements, which provide coverage to customers who become ill with COVID-19 or a future epidemic, are individually ordered to quarantine, or are denied boarding due to a suspected illness," says Durazo.

Separate travel insurance policies also tend to offer more robust cancellation coverage. Credit card protections often cap reimbursement at just $10,000 a trip, while travel insurance usually goes up to $100,000. Most credit cards will only cover trips purchased with the card or reward points.

Situations best suited for each

Both travel insurance and credit card protections can prove helpful if your trip is canceled or you experience some other loss while traveling, but the right choice will depend on the specifics of your exact trip and budget. "Every trip is different, and every traveler has different needs and concerns," Walch says.

For example, travelers with more health concerns may opt for stand-alone travel insurance. Longer, more expensive, and international trips may also warrant greater coverage that credit card travel insurance can't provide. Additionally, it may be a good idea to insure trips to high-risk areas, either politically unstable regions or areas with inclement weather.

On the other hand, Walch says, "For a short trip to a family member's house in the US, the travel insurance offered through the credit card may suffice."

Credit card travel insurance comparison frequently asked questions

Credit card travel insurance may offer basic coverage for international trips, but it often lacks comprehensive medical coverage.

Yes, you can use both for the same trip. Stand-alone policies can supplement areas where credit card insurance is limited, such as medical coverage.

Most credit card travel insurance does not cover pre-existing medical conditions. Many stand-alone policies don't cover pre-existing conditions, but you may find some coverage with certain stipulations.

Credit card travel insurance is usually automatically activated when you pay for a trip using that card. However, it's important to read the card's policy for specific activation requirements.

While credit card travel insurance can be more cost-effective since it's a benefit of the card, it may not provide as comprehensive coverage as a stand-alone policy. In the long run, you may end up losing money if you solely rely on credit card travel insurance.

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If Your Debit Card Expires While You’re Traveling, Do These 7 Things

T raveling can be an exciting adventure, full of new experiences and memories to cherish. However, it can quickly turn into a stressful situation if you find your debit card has expired. Being far from home without immediate access to your funds can be worrisome, but don’t panic. Here are some important steps to take if your debit card expires while you are on vacation.

Read More: 6 Genius Things All Wealthy People Do With Their Money

Sponsored: Owe the IRS $10K or more? Schedule a FREE consultation to see if you qualify for tax relief.

1. Contact Your Bank Immediately

The moment you realize your debit card has expired, contact your bank or card issuer. Most banks have international toll-free numbers specifically for travelers who have issues with their debit cards. Inform them about your situation and verify your identity. Banks are familiar with handling these situations and can quickly help you find a solution.

2. Request an Emergency Card Replacement

Ask if your bank can expedite a new debit card to your current location. Many banks offer an emergency card replacement service for travelers. While this might come with a fee, it’s worth the peace of mind. Provide a secure and verifiable address, like your hotel, where the card can be delivered.

3. Use Digital Wallet Services

In today’s digital age, accessing your funds without needing the physical debit card is often possible. If your bank supports it, you can add your debit card to a digital wallet like Apple Pay , Google Pay or Samsung Pay. This way, you can continue to make purchases and pay for services with your smartphone or a smartwatch.

4. Explore Wire Transfer Options

If getting a replacement card is not feasible, consider having money wired to you. You can use wire transfer services like Western Union or MoneyGram to receive cash without needing a debit card. You’ll need to provide identification and the transaction details, but it’s a reliable way to access your money.

5. Use Other Cards

Always travel with more than one form of payment. If you have a credit card or another debit card , now is the time to use it. This reduces the inconvenience of having a single expired card and ensures you’re not stranded without access to your funds.

6. Withdraw Funds Through a Partner Bank

Some banks have international partnerships with other banks. In such cases, you might be able to withdraw cash directly from a partner bank’s branch. You’ll need to present your passport and possibly answer security questions, but it’s an effective way to access your money.

7. Precautionary Measures for the Future

To avoid a situation like this in the future, make a note of your card’s expiration date before you leave on vacation. Most banks send out new cards a few weeks before the old one expires, so ensure your address is up-to-date. Additionally, consider setting up travel alerts on your account and inform your bank of your travel plans. That way, you’ll cut down any risk of fraud alerts or blocks issued on your account.

If your debit card stops working while you’re traveling, it can be a hassle, but it’s not a huge disaster. If you act quickly and check out other options, you can still get to your money and have an enjoyable and relaxing time on your trip. Make sure to have a second way to pay ready and the phone number for your bank with you, just in case you need it while you’re on the go.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.

This article originally appeared on GOBankingRates.com : If Your Debit Card Expires While You’re Traveling, Do These 7 Things

COMMENTS

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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! 💡.
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Charles Schwab Bank's debit card is often recommended by travelers because of its lack of fees and the fact that any fees you have to pay when using any ATM in the world get refunded to you!. This is a feature that not many banks offer so this is why they stand out above the rest. If you're a US resident, you definitely need to look into getting your hands on this bank account and debit card.
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Here's what you need to know about the Fidelity debit card: Unlimited fee rebates from any ATM worldwide. No account fees or minimum balance requirements. Competitive Annual Percentage Yield (APY) on cash balances. 1% foreign conversion fee on debit card purchases and some cash withdrawals.
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5. Fidelity Cash Management. Fidelity Cash Management is another account that I personally have and can recommend based on my experience. It's a little bit different than the other accounts on this list because the Fidelity Cash Management account is a brokerage account that comes with a debit card.
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The Schwab debit card allows you to take out cash from any ATM anywhere in the world and refunds 100% of any withdrawal or ATM fees you pay. This is a foolproof way to avoid international ATM fees and get the best currency exchange rate possible. Schwab reimburses you monthly for ATM fees charged by all outside vendors.
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This guide includes the top-pick travel cards, the cards to avoid, and how to check what your card's charging you. Top travel credit and debit cards. Chase - fee-free + 1% cashback. Halifax Clarity - fee-free + £20 cashback. Barclaycard Rewards - fee-free + 0.25% cashback. Currensea - links to your bank account + £10 cashback.
Prepaid Travel Card by Mastercard
Mastercard Prepaid travel card is accepted globally, helps get a benefit from locked-in rates, allows worldwide access & is safer than cash. ... Outside the U.S.: Mastercard Global Service Phone Numbers. Availability of insurance benefits on your card may vary by card issuer. Please refer to your issuing financial institution for complete ...
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The best travel debit cards with no foreign transaction fees. These are the ideal features to look for in a debit card: Foreign transaction rate of 0%; International ATM withdrawal fee of $0; Refund of third-party ATM withdrawal fees (This is rare, but it exists!) Competitive points or cash-back rewards program (at least 1% of the purchase price)
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Avoid using a debit card to make lots of small payments as the charges can quickly escalate (unless you have one of the fee-free cards in the table above). As an example, a standard TSB debit card incurs fees of 2.99% plus £1 per transaction and 1.5% for cash withdrawals (minimum £2, maximum £4.50). So making two £50 purchases and three £ ...
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Unlike debit or credit cards, some travel cards allow you to load multiple currencies onto the one card. The Travelex Money Card lets you load up to 10 different currencies, making travelling to different destinations in the one trip easier, plus easily manage your travel money on the go with the Travelex Travel Money App .
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Capital One 360 Debit Card: Spend internationally with no foreign transaction fee - and very few fees to worry about overall; network exchange rates apply. Bank of America Travel Rewards Travel Credit Card: Spend and earn rewards, with no foreign transaction fee and no annual fee. Discover Travel Credit Card: Travel credit card with no ...
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Debit vs. credit cards. When you use a debit card, money is pulled directly from your bank account to cover your purchase. That's why your $1,000 purchase will be declined if you only have $500 in your bank account. However, when you use a credit card, you borrow money from the credit card company to make your purchase.
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Travel Cards vs. Debit Cards

Travel Cards

Benefits of travel cards

Drawbacks of travel cards

Tips on how to use travel cards effectively

Travelling with Debit cards

Drawbacks of debit cards

Tips for using debit cards overseas

Which one should you pack?

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Questions & Answers for the Travel Cards vs. Debit Cards

Credit Card vs. Debit Card: Which is the Best for Travel Abroad?.

What’s the Best Way to Access and Spend Your Money While You Travel Abroad?

Fees to Worry About While You Travel

How You Can Earn Money While You Travel

So What’s Best for Travel? Credit or Debit Cards?

The Pro and Cons of Using a Debit Card

The Pros and Cons of Using a Credit Card

The Best Approach Is a Combination of the Two

Federal Laws Regarding Debit and Credit Cards

Don’t Forget to Protect Your Money While You Travel

Tell Your Card Issuer You’re Going to Travel Abroad

Keep Your Personal Items on You

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The Ultimate Guide To The Best Debit Cards For Traveling

Table of Contents

Best Travel Debit Card in the USA

Charles Schwab Bank

Best Travel Debit Card in Canada

Best Travel Debit Card in the UK

Starling Bank

Best Travel Debit Card in Australia

HSBC Everyday Global Account

Best Travel Debit Card in Europe

Best Travel Debit Card in the Rest of the World

TransferWise Borderless Account

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Best Debit Cards for International Travel

Which Are The Debit Cards for International Travel?

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3. Betterment Checking

4. Charles Schwab Investor Checking

5. Fidelity Cash Management

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The Bottom Line

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Heymondo Review: Is It a Good Travel Insurance?

Travel money card vs credit card vs debit card: which should you choose?

Key highlights

Travel cards, credit cards, and debit cards: A quick comparison

Travel money cards

Benefits of a travel money card

Load multiple currencies

Lock in exchange rate

Potentially avoid ongoing currency conversion charges

Relatively less risk if stolen

Issued by Visa and Mastercard

Drawbacks of a travel money card

Associated fees

No credit facility

Currency limitations

Restrictions on pre-authorisations

Credit cards

Benefits of a Credit Card

Perks and freebies

Sign-up bonuses

Widely accepted

Emergency access to credit

Drawbacks of a credit card

Debt accumulation

Credit requirements