Top 5 Credit Cards and Debit Cards for Travel
When travelling abroad, having the right credit or debit card can make all the difference. With so many options available, it can be overwhelming to choose the best one for your needs. In this blog post we'll explore the 5 best credit cards and 5 travel debit cards or transfer service money cards for foreign countries.
Best Credit Cards for Travel
Chase Sapphire Preferred Card
The Chase Sapphire Preferred Card is a popular choice for travellers, thanks to its generous rewards program and lack of foreign transaction fees. Cardholders earn 2 points per dollar spent on travel and dining and 1 point per dollar spent on all other purchases. Points can be redeemed for travel through the Chase Ultimate Rewards program which offers a range of airline and hotel partners. The card also comes with a sign-up bonus of 100,000 points- worth up to $1,250 in travel.
Pros:
-Generous sign-up bonus and rewards program
-No foreign transaction fee
-Primary car rental insurance
Cons:
-Annual fee after the first year
-High minimum spending requirement to earn the sign-up bonus
-Not as widely accepted outside of the U.S. compared to other credit cards
Website: https://creditcards.chase.com/rewards-credit-cards/chase-sapphire-preferred
Capital One Venture Rewards Card
The Capital One Venture Rewards Card is another great option for travellers with its flat-rate rewards program and lack of foreign transaction fees. Cardholders earn 2 miles per dollar spent on all purchases and miles can be redeemed for travel expenses through the Capital One Travel portal. The card also offers a sign-up bonus of 60,000 miles worth up to $600 in travel.
Pros:
-Sign-up bonus and rewards program
-No foreign transaction fees
-Flexible redemption options
Cons:
-Annual fee after the first year
-Lower rewards rate compared to other cards
-Limited travel benefits
Website: https://www.capitalone.com/credit-cards/venture/
American Express Platinum Card
The American Express Platinum Card is a premium card with a range of travel benefits Including airport lounge access, hotel perks and travel credits. Cardholders earn 5 points per dollar spent on flights booked directly with airlines and 1 point per dollar spent on all other purchases. Points can be redeemed for travel through the Amex Travel portal or transferred to a range of airline and hotel partners. The card also comes with a sign-up bonus of 100,000 points, worth up to $1,000 in travel.
Pros:
-Sign-up bonus and rewards program
-Complimentary travel benefits
-Access to exclusive events and experiences
Cons:
-Annual fee
-Not as widely accepted outside of the U.S. compared to other credit cards
-Limited airline transfer partners compared to other cards
Website: https://www.americanexpress.com/us/credit-cards/card/gold-card/
Citi Premier Card
The Citi Premier Card offers a range of travel benefits and rewards including 3 points per dollar spent on travel and gas, 2 points per dollar spent on dining and entertainment and 1 point per dollar spent on all other purchases. Points can be redeemed for travel through the Thank you Rewards program or transferred to a range of airline partners. The card also comes with a sign-up bonus of 80,000 points worth up to $800 in travel.
Pros:
-Sign-up bonus and rewards program
-No foreign transaction fees
-Complimentary travel benefits
Cons:
-Annual fee after the first year
-Limited airline transfer partners compared to other cards
-Requires high spending to earn the sign-up bonus
Website: https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=citi-premier-card
Discover it Miles Card
The Discover it Miles Card is a great option for travellers looking for a simple rewards program with no annual fee. Cardholders earn 1.5 miles per dollar spent on all purchases and miles can be redeemed for travel expenses or statement credits. The card also offers a unique feature called "Mile-for-Mile Match," which doubles the miles earned in the first year of card membership.
Pros:
-No annual fee
-Generous rewards program
-No foreign transaction fees
Cons:
-Limited acceptance outside of the U.S.
-Lower rewards rate compared to other cards
-Limited travel benefits
Website: https://www.discover.com/credit-cards/miles/
Best Debit Cards or Transfer Service Money Cards for Travel
Wise
Wise is a popular international money transfer service that allows users to send and receive money abroad at a low cost. Wise offers exchange rates that are up to 8 times cheaper than traditional banks and there are no hidden fees or markups. Users can also hold and convert money in multiple currencies making it a great option for frequent travellers.
Pros:
-No hidden fees or markups
-Real-time exchange rates
-Convenient mobile app
Cons:
-Limited availability in certain countries
-Not as widely accepted as traditional debit cards
-Some fees for certain types of transactions
Website: https://wise.com/
Revolut
Revolut is a digital banking app that offers a range of travel-friendly features including fee-free spending abroad, international money transfers and access to five cryptocurrencies. The app also offers a range of budgeting and savings tools, making it easy to keep track of your travel expenses.
Pros:
-No foreign transaction fees
-Flexible currency exchange options
-Convenient mobile app
Cons:
-Limited availability in certain countries
-Some fees for certain types of transactions
-Limited travel benefits
Website: https://www.revolut.com/
TransferWise Debit Card
The TransferWise Debit Card is a prepaid card that can be used to spend money in over 40 currencies at no extra cost. Users can also withdraw money from ATMs around the world at a low cost and there are no hidden fees or markups. The card can be managed through the TransferWise app, which allows users to easily switch between currencies and track their spending.
Pros:
-Low fees and exchange rates
-Convenient mobile app
-Access to debit card and multi-currency account
Cons:
-Limited availability in certain countries
-Not as widely accepted as traditional debit cards
-Limited travel benefits
Website: https://transferwise.com/
Schwab Bank High Yield Investor Checking Account
The Schwab Bank High Yield Investor Checking Account is a popular option for travellers, thanks to its lack of foreign transaction fees and ATM fees worldwide. The account also offers a high yield interest rate and comes with a linked brokerage account for easy investing.
Pros:
-No foreign transaction fees
-No ATM fees worldwide
-High yield interest rate
Cons:
-Requires linked brokerage account
-Limited brick-and-mortar locations
-Some fees for certain types of transactions
Website: https://www.schwab.com/public/schwab/banking_lending/checking_account
N26
N26 is a mobile banking app that offers fee-free spending and withdrawals abroad, as well as access to travel insurance and other travel-related benefits. The app also offers a range of budgeting and savings tools, making it easy to manage your finances on the go.
Pros:
-No foreign transaction fees
-Access to travel insurance and other travel-related benefits
-Complimentary budgeting and savings tools
Cons:
-Limited availability in certain countries
-Some fees for certain types of transactions
-Limited travel benefits
Website: https://n26.com/en-us/bank-account
Overall, the best credit cards and debit cards for travel will depend on your individual needs and spending habits. It's important to consider factors like rewards programs, foreign transaction fees and ATM fees when choosing a card. Additionally, it's always a good idea to notify your bank or credit card company of your travel plans to avoid any issues with card usage.
When it comes to international money transfers and prepaid cards, services like Wise, Revolut, TransferWise, Schwab Bank and N26 offer affordable and convenient options for managing your finances while abroad. By doing your research and choosing the right cards and services, you can save money and enjoy a seamless travel experience.