Best credit card to use abroad

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Following our exclusive blog article last month for the best debit card to use abroad Andrew Hagger from Money Comms has kindly put together another comparison table for the best credit card to use abroad with detailed figures on the fees that the credit card suppliers charge every time you either use the card for a transaction or cash machine withdrawal when you are abroad on holiday or for a business travel trip.

When you compare both the best debit card to use abroad and the best credit card to use abroad comparison tables you with notice that there are many more credit cards available, however, the majority of the credit cards are actually more expensive to use than your bank debit card. For example, if I used a Co-operative credit card in comparison with a Co-operative debit card I would be worse off. Please see below the best credit card to use abroad comparison table which is correct as of the 10th July 2014 so that you can compare your bank debit card with your credit card supplier’s charges and whether you would be worse off:

Best credit card to use abroad

Using our credit cards for transactions is a common thing of today’s cashless society and quite often people will go abroad with the view that it is much easier to either use your debit card or credit card for transactions, but what these comparison tables show us is that using your debit or credit card abroad is still quite expensive especially if you are carrying out many small transactions. It will of course depend on the type of holiday you have booked, so for example, with an full inclusive holiday you might not need to take so much spending money with you when compared to a half board or self catering holiday where you will be out and about spending money in the local area more often.

Just to give you an example which surprised me following my recent holiday to Crete this summer. I went on holiday for one week on a half board basis taking with me euro currency cash only. I didn’t use my debit card or credit card abroad as I knew that my Co-operative debit card would be more expensive for me to use every day whilst on holiday. I used my euro’s currency cash to pay for drinks and lunch in the hotel, for local busses, shopping at the local shops, paying for excursions and just general spending whilst I was out and about.

If I had used my debit card or credit card for every transaction I would have no doubt carried out at least four or five transactions per day which would have cost me a fair amount in the transaction fees or withdrawal fees every day. This is not to mention the exchange rates that banks or credit card suppliers will use to convert your currency back into British Pounds and this will depend on what type of card you have and whether it is a Visa or MasterCard. Not only is it still cheaper to take currency cash, but it does make it easier to pay for things with local suppliers when you are out and about. For example, local buses, taxis, food markets, gift shops and tipping staff at your local restaurant or café.

In conclusion if you are using your debit or credit card abroad then using it every day for card transactions or cash machine withdrawals will leave you worse off in comparison to shopping for your currency cash in advance. By purchasing your travel money in advance this gives you the added option of comparing currency suppliers and exchange rates. This allows you to have more control over your budgeting and the cost of your travel money. But we would always suggest having your debit or credit card as a backup just in case you under estimate your holiday spending money or you have an emergency. In the future we hope to provide more information to our customers on how much to budget for your holiday for each country and currency location.

If you are looking to buy currency or compare exchange rates for your holiday please use our currency comparison table which allows you to compare all of the top UK currency suppliers and the best exchange rates for your travel money. If you come back from your holiday with left over or unused currency then you can either keep it for your next holiday or sell back your currency by using our sister website Currency Buy Back which again allows you to compare all of the best buy back exchange rates and top UK buy back currency suppliers.

Posted by Adam Silveston

Adam manages the marketing for both Compare Holiday Money and Currency Buy Back, assisting the team in developing brand awareness and the services that each website provides. He joined the team in 2011 and is responsible for content creation, social media and building relationships with new travel industry contacts and guest travel bloggers.

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