If you are planning to travel abroad, one of the crucial question comes to your mind is how much you have to pay for using credit card for doing purchases and ATM transactions in a foreign country. The moment you swipe your credit card overseas to make a purchase, a foreign transaction fee will be applied for the currency conversion. Moreover, many banks go one step ahead and along with the 1 percent foreign transaction fees, add their own fees as well. As a result you receive a mild heat attack when you see the total fee on your bill statement. In fact sometimes these credit card debts compel you to file for a debt relief programs as well. The best way to evade such situation is to find the debit card or the credit card which charge lowest transaction fees when you use them on ATM abroad. Read on to find the list of best credit cards and debit cards which offer you the best deal while traveling abroad on holiday or business.
Debit card
Using debit card is more expensive in comparison to Credit card in abroad there fore it is advisable that you should prefer to use credit card over debit card while you are away. However if it is too difficult, you can carry a Nation wide debit card from nationwide. Here every time you load money you will get charged a 2 % fee but they don’t charge you on debit card purchases made abroad. With a flat £1 per cash withdrawal on ATM usage overseas, this card seems to offer the best deal. First direct debit card is regarded the second best debit card with a 2.75% loading fee which is slightly higher than the nation wide debit card. With minimum £1.75 and maximum of £5 withdrawals fees, First-direct debit card is undoubtedly a profitable choice.
Credit Card
Halifax clarity is considered the best credit card with the lowest interest rates and 0% cash withdrawal fee and 0% spending fee load. You can certainly save on transaction as a low interest rate of APR of 12.9% is applied for this credit card. Santander’s Zero credit card offers 0% on spending fees and also 0 cash withdrawal fees. Though the APR is slightly higher here almost 27.9%, you can certainly save a considerable amount of money on your ATM transactions fees here.
To conclude, you can certainly save a lump some amount of money by picking the right card that charges the lowest fees on ATM or purchase transaction you make while overseas on foreign countries. Keep in mind the above mentioned points and evade returning from a journey with a dent in your wallet. Remember, no matter what you choose debit card or credit card, your travel dates should be informed to the card issuer so that your card won’t get declined when you use it on foreign soil, otherwise spending activity in an unknown location can make the bank assume that your card has been stolen.
