Hi all,
I’m having quite some weekly international payments to the international contract site Upwork and I’m looking for a credit card which allows me to earn decent points for it.
I was close to signing up for the Qantas Amex card but then saw that you’re no earning points for international/overseas transactions.
Did I read that right and any recommendations? Ideally uncapped earnings.
If someone wants a credit card that earns them good points on overseas transactions, there’s one other question they should be asking: which credit card can earn points AND does not charge exorbitant foreign currency transaction fees?
Many – in fact, most – points-earning cards charge upwards of 2% for foreign currency transactions, effectively cancelling out the value of whatever points they earn.
The two points-earning cards I know of that don’t charge foreign currency fees, though I’m sure there are others, are the Coles Rewards Mastercard and the ANZ Travel Adventures Visa.
The Coles Rewards Mastercard has a low annual fee and earns 2 Flybuys points per $ (as of early next year, that will drop to 2 points per dollar for the first $3000 per statement period, then 1 point per dollar for over $3000 worth of spending).
The ANZ Travel Adventures Visa will have an annual fee of $120 and will earn ANZ rewards points at a slightly lower rate, and with a slightly lower cap, than the Coles Mastercard.
The principle, though, is the same: it’s generally better value to have a card with no foreign transaction fees and a slightly lower points earn or a cap, compared with a card with foreign transaction fees and a higher points earn.
Hi @sixtyeight,
Very good points (no pun intended)! I also did a little bit of more digging and found the Bankwest More Mastercard Platinum and World which don’t charge int’l tx fees and collect points. Not sure what the exchange with these cards would be.
Need to dig into these…
Cheers
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