Best Credit Card for Abroad ?

As in North America and exchange rates and "charges"

seem to remember Nationwide being up there in that respect

thanks

Reply to
green
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So it is said to be. Not sure anyone has ever done a comparative test of the 'real' exchange rates you'd get on the same day compared to another card though.

Reply to
Tumbleweed

The Post Office Mastercard also offers nil charge overseas transactions. Nationwide has the advantage of offering both a credit card (for spending) and a debit card (to get cash).

You get the same basic exchange rate as any other card - just no surcharge for foreign use. I've proved it by using a different card on the same day. It varies a few hundredths of a cent, but no more.

Reply to
dtren

Having used Nationwide and two other cards for euro purchases, I agree that the Nationwide and one of the other cards give Interbank rates. The second card had a 2.75% commission. The third card had a 1.5% commission but approximately 1.0% 'loading' on the exchange rate.

It is not easy to be precise because the exchange rates vary by the minute.

Personally, I would use Nationwide where possible - at least you know where you are.

Flop

ps beware 1) - especially if travelling abroad, do not let them do the conversion for you and present a bill in Sterling. That will be loaded with every 'commission' imaginable.

2) - for purchases from abroad, eg internet buying, they can add VAT right at the end with no warning.
Reply to
Flop

I do comparisons from time to time, and using a Nationwide credit card usually works out around 3% better that other cards.

Chris

Reply to
Chris Blunt

Just to follow up on that, the result of a comparison I did in Thailand a couple of year ago was as follows:

The transactions were all for 200 Thai Baht and all took place at the same merchant within a few minutes of each other. The amounts applied to my account were:

Nationwide: £3.22 HSBC: £3.29 Barclaycard: £3.31

OK, the savings are not quite as much as 3% but still well worth having.

Chris

Reply to
Chris Blunt

good point

and free and consistent 3% - hurrah !

Reply to
green

Seven Pence...jeez what a tight arse :-)

Reply to
uknewsfan

I suppose it would be asking too much to expect you to grasp the fact that it wouldn't always be a flat amount of just seven pence per transaction. If you had read the rest of the thread you'd have seen that those transactions were carried out just to determine what the differential between various banks is. If someone had spent £3,220 while traveling, the saving would have been £70.

Chris

Reply to
Chris Blunt

Yes, I grasped this....I am amazed at the hassle people are willing to got through to save trivial amounts. Move your phone to us and save 4 quid a quarter, gas and save 15 quid a year etc. I suppose my view is if someone can afford to spend 3 k travelling, maybe 70 quid is neither here nor there ?

Reply to
uknewsfan

I agree with you that some people seem to make a lot of effort to save small amounts of money, but for people such as myself, choosing the right credit card can save more than trivial amounts.

I live overseas, but my income originates in the UK. Using Nationwide's credit card saves me at least 2.5% on all my credit card spending compared to using cards from other issuers. That represents a significant amount of money over time. No doubt many others who travel frequently would benefit in a similar way. Managing finances in a sensible way like that doesn't makes people tight arses.

Chris

Reply to
Chris Blunt

Ah, but thats different :-)

Reply to
uknewsfan

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