Hi guys, just got accepted for the amex gold preferred rewards card and waiting for it to arrive. I'm in South East Asia at Easter with the family and will be spending at least a couple of thousand pounds over there. I note that this card charges a 3% foreign usage transaction fee, but also gives double points for that. Am I right in assuming that its not worth using this card abroad and instead I should forget about the points and just use my normal zero foreign usage fee credit card (Halifax Clarity) ? If so, that seems like a real shame and a wasted opportunity to hit the 20k rewards point trigger. Perhaps I should incur the foreign fee on the amex in order to quickly hit the threshold ? Appreciate any thoughts and suggestions please. Thanks
Just to add that I'm aiming to earn as much avios as possible. Therefore if there is another card that doesn't charge foreign transaction fees, and which gives avios or points that can be turned into avios, I would be happy to hear about it. By the way, if I buy something online from a foreign company, is that treated as a foreign transaction? For example, if I pay for a Qatar flight between Amsterdam and Bangkok from their website.The price is probably going to be in Euros or the Qatari currency right? Thanks
Really depends on your circumstances - how soon you want/need the points and how easily you'd hit the min spend without putting the holiday spend on the card. Personally, I can be a bit lazy when it comes to really maximising credit card spend/minimising fees and,for the sake of simplicity, just focus on whichever card I'm trying to hit the min spend on at that particular time. Obviously that means I sometimes pay 1-2% net (once you factor points earned from the spnd) more than I really have to, but I can live with that.
Yep - it's just the currency you're charged in that matters re whether transaction is considered foreign or not , not actually where the company is located. Airlines sometimes offer multiple currencies you can pay in, but I would always expect Euros or Qatari Riyals to be the default option in that example.
If you are interested in Virgin miles you can get the Curve card and link it to a Virgin reward card. This way you will collect miles without foreign transaction fees
Depends if you've got sign up bonus minimums you need to hit, unless you otherwise spend a fair bit at home normally or have an easy manufactured spend option. Although, min spends will now be less of an issue given the amex sign up changes I suppose...
My curve is linked to my IHG Premium card, until the magical day that Amex allow themselves back on Curve. Just tried my first small cash withdrawal via curve, and IHG website seems to be showing it as a normal transaction, not a cash withdrawal, which is excellent.
I've just been using my Revolut card abroad. Looks like I should get myself a credit card for use abroad. Always good to hear about products you are missing out on
Sadly it's the same where I am from. From my understanding, the US Amex cards have 0% foreign transaction fees! :O As others have suggested, tried these new cards which have 0% foreign fees like revolute, Curve, Monzo etc. I personally don't have any, but one of my mates does and he used it abroad just fine. If using Curve, just remember that if you spend on that Curve card via a credit card, you will not be protected under Section 75.