Derin Clark

Derin Clark

Online Reporter
Published: 30/06/2019

British consumers lost £95m using debit cards during European holidays, £7 million using pre-paid cards and £100m using their premier credit card, research by TotallyMoney, a credit report company, revealed.

TotallyMoney found holidaymakers had lost out due to high transaction fees and poor exchange rates. According to the research, just 8% of those surveyed used travel credit cards while on holiday. These types of cards avoid the high transaction fees and exchange rates that other traditional credit cards might include.  

As using a travel credit card can help save UK adults millions during their summer holidays, we’ve taken a look at the best travel credit cards currently available.

Best travel credit cards offering free cash withdrawals

For those looking for a travel credit card that will allow them to withdraw cash without charge, Santander is currently offering the best standard purchase rate of 18.9% APR on its Zero Credit Card Mastercard. This card offers 0% interest on purchases for 12 months and doesn’t charge a fee for usage in Europe or worldwide. A minimum income of £7,500 is needed to apply for this card and it can be applied for online, in branch or by phone.

Another competitive card offering free cash withdrawals is Halifax’s Clarity Credit Card Mastercard, which offers a standard purchase rate of 19.9% APR. Borrowers should note that the actual rate is dependent on credit rating, but this card has the benefit of not requiring a minimum income and there is no balance transfer fee. This card doesn’t charge a fee for use in Europe or worldwide and can be applied for online, in branch or by phone.

For those with a poor credit rating looking to repair their credit, Money Card Mastercard from 118 118 Money offers free cash withdrawals, but borrowers should be aware this card doesn’t charge any interest but charges a monthly fee of between £3 and £14 depending on the credit limit, which gives it a 28.9% APR. This card requires a minimum income of £8,400 and does not allow balance transfers. It doesn’t charge for usage in Europe and worldwide and can only be applied for online.

Best travel credit cards offering rewards

Tandem Bank offers 0.50% cashback on spends over £1 on its Cashback Credit Card Mastercard, which charges 18.9% APR. This card doesn’t charge to use in Europe or worldwide but charges 2.50% or a minimum £2.50 on cash withdrawals, but this fee does not apply to ATM withdrawals abroad. A minimum income of £13,000 is required for this card, which can only be applied for online.

Also offering rewards on purchases is NatWest with its Reward Black Credit Card Mastercard. This card offers 1% rewards on supermarket spend (0.5% at their petrol stations) and 1% on selected retailers. It charges an annual fee of £84 and a standard purchase rate of 18.9% APR (37.1%) and charges 3.00% for cash withdrawals. There is no fee to use this card in Europe or worldwide. A minimum income of £15,000 is required and it can be applied for online, in branch or by phone. 

Santander’s All in One Credit Card Mastercard offers 0.5% cashback on purchases and charges 21.7% APR, as well as a monthly fee of £3. This card doesn’t charge a fee for foreign usage in Europe or worldwide but does charge 3.00% or a minimum of £3.00 for cash withdrawals. An income of £7,500 is required for this card, which can be applied for online, in branch or by phone.

Best travel credit cards that can be applied for in branch

Santander’s Zero Credit Card Mastercard can be applied for in branch, as well as online and by phone. It charges 18.9% APR but offers free cash withdrawals, 0% on purchases for 12 months and doesn’t charge for a usage fee in Europe or worldwide. This card requires a minimum income of £7,500.

Another travel credit card that offers a competitive rate and that can be applied for in branch, as well as online and by phone, is Clarity Credit Card Mastercard from Halifax. This card charges 19.9% APR, although rates are dependent on credit rating, but it offers free cash withdrawals. It doesn’t have a fee for usage in Europe or worldwide and no minimum income is required to apply for this card.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

man and woman holding up drinks while relaxing outside in summer

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