I was recently tipped off by Peter Hannah in my office about the 28 Degrees Platinum Mastercard credit card. This is a credit card designed for international travel and online shopping as it has no fees on overseas purchases, no currency conversion fee, and no foreign transaction fees. On top of all that, it has no annual fee.
However, one thing to be careful of is making sure that you pay it off every month. The interest rate on this card is a staggering 21.99% on purchases and cash advances, which is higher than most. Furthermore, cash advances attract a 3% fee or $4, whichever is greater, and it is still not able to prevent local ATM withdrawal fees.
If you have no loyalty program that you are tied to for points on a credit card, the 28 Degrees Platinum Mastercard is a good option. However, this space is becoming more competitive and there are several other cards from various banks with attractive features to save fees for overseas travellers, including debit cards from Macquarie Bank, Citi Bank and ING.
A useful article from Canstar to assist in your research can be found here.
The information provided should not be considered personal financial advice as it is intended to provide general advice only. The content has been prepared without taking into account your personal objectives, financial situations or needs. You should seek personal financial advice before making any financial or investment decisions.