Credit Card Options with Rewards and No Foreign Fees

OzFrugie on 06/04/2021 - 23:38
Last edited 07/04/2021 - 00:20

Hi all,

What credit cards out there that offer the following criteria?

  1. No foreign transactions fee
  2. Great Forex conversion rate
  3. Bonus, if it also has reward point system

Are there such credit cards out there in the market that meet these criteria?
It would even be better if it's Amex card so I can take advantage of Shop Small and other deals.

Currently, using 3 separate cards (Westpac Altitude Black, 28 Degrees, and Amex Explorer) to meet these requirements but would like consolidate and have a card to rule them all if possible.

Thanks in advance.

Edit: with no annual fee

Financial Credit Card

Comments

  • ShortyX on 07/04/2021 - 00:14

    Coles credit card

    • stirlo on 07/04/2021 - 09:28
      +1

      Coles rewards requires a $99 fee but gives free foreign transactions.

      Coles No Fee charges 2.5% foreign transaction fee.

      28 Degrees probably comes closest. No Annual Fee, Forex at Interbank rate, No International transaction fees but also no rewards points :( You can get some perks like flight delay lounge pass and free wifi but it's not ass good as their old Price protection policy which isn't available to new customers.

      • UrMumsOnlyFan on 11/04/2021 - 13:30

        I have both but recommend the Bankwest Zero Platinum over 28D. Like 28D there is no annual fee and no international transaction fees, but ZPM also includes basic travel insurance.

        28D has a nonsensical fee to pay the card off using BPay. I haven't heard of anyone else that does that, and it's certainly inappropriate for a card branding itself as platinum (supposedly).

        I don't place much value on Flight Delay Pass - only ever used it once in the years since it was introduced. And I would place even less value on the boingo wifi, which didn't work throughout the one trip I bothered to try it.

        • stirlo on 11/04/2021 - 14:35

          BankWest seems like a good option for new customers.

          I’m a legacy customer with the price protection policy so 28 degrees is the most profitable card I have in my portfolio. :P

    • Poor Ass on 07/04/2021 - 23:17

      Was good but not anymore since they cap the points after $2k or $3k

  • kerfuffle on 07/04/2021 - 05:38
    +1

    Haven't heard of an Amex that didn't slug a foreign transaction fee. Plus not everywhere takes Amex, so you wouldn't want one card to rule them all …

    • Baysew on 07/04/2021 - 11:14

      In the last version of CBA issued Amex companion cards, using the Amex card was fee slug free. This was only for a short time and CBA, like the others, dropped Amex.

    • djones145 on 07/04/2021 - 14:00

      amex slug transaction fee but their rates are pretty completive and have points

  • justdigi on 07/04/2021 - 08:27
    +4

    I would’ve said Macquarie Black until your edit saying no annual fee as well.

    I think you’re asking too much. You can basically pick 2: no annual fee, no foreign fee/good forex and rewards program.

  • T-man on 07/04/2021 - 08:36
    +2

    CBA Ultimate Reward card is the best one, yes no annual fee if spend $2500 per month

    • OzFrugie on 07/04/2021 - 22:37

      Looks promising. 2.5k should be met since going to use it for main card for day to day expenses. Thanks for the suggestion!

    • Poor Ass on 07/04/2021 - 23:18

      Only downside is shit rewards program for a premium card

      • OzFrugie on 07/04/2021 - 23:44

        What shit about it?

        • Poor Ass on 08/04/2021 - 07:53

          If you have the card, what's the point to dollar ratio?

          E.g how many points to redeem the highest denomination gift card ?

      • T-man on 08/04/2021 - 17:33

        You knew nothing, it’s 3 pts / $1 spend in foreign currency, convert to Qantas ~= 1.5 points / $1, the highest rate in the market. The only downside is capped at $10,000 per statement.

        I have never converted points to gift cards, it’s the worst redemption.

        • Poor Ass on 08/04/2021 - 19:19

          Well there you go

          Pretty shit deal FF wouldn't you say in these times

  • Darayus on 07/04/2021 - 09:30

    Either points or annual fees you cant get both.

    • waterbottled on 07/04/2021 - 09:41

      OP never asked for a card with no annual fees.

      edit: woops didn't see OP's edit. You're correct, can't have both.

    • OzFrugie on 07/04/2021 - 22:39

      Lol yeh i thought so but I thought to give it a go just in case I'm out of loop.

      Someone above suggested Commbank Ultimate Award Card which looks promising.

  • waterbottled on 07/04/2021 - 09:38
    +1

    Bankwest's Qantas credit cards (either the Platinum or the World) meets all your criterias.
    I use the Platinum and it gives 0.75 FF point per $1.

    I currently use:
    AMEX Qantas Ultimate: for the AMEX deals, 1.25 FF point per $1, $450 Qantas travel credit;
    HSBC Platinum Qantas VISA: 1 FF point per $1 (for the first $1000 spent every month - then lowers to 0.5 point per $1); to be used when AMEX isn't accepted;
    Bankwest Qantas Platinum: for the no forex fees, 0.75 FF point per $1 (to be used when AMEX isn't accepted and I've already used $1000 on the HSBC Visa so I can maximise the points earned per $1).

    edit: didn't see your edit for no annual fees. disregard what I wrote above. Bankwest Platinum is $160 per year, but you get a bonus 30,000 FF points when you spend $3000 in the first 90 months.

    • OzFrugie on 07/04/2021 - 22:41

      Do you still think you get good value using cards that reward you in FF points now that you cannot travel much anymore?
      The amex 450 travel credit, if you dont use it or partially, does it roll over to the next yr and so on?

      • waterbottled on 07/04/2021 - 23:33

        Yeah because I'm banking this points for when I can travel overseas again. I use the Qantas credit for domestic travel. It didn't roll over I believe.

  • daft009 on 10/04/2021 - 15:16

    Bankwest world MasterCard last time I checked

  • [Deactivated] on 11/04/2021 - 10:34
    +1

    With AMEX, you only get charged a foreign transaction fee if it isn't in AUD - you'd still get a shit rate with the merchant though.

  • blueyez on 13/04/2021 - 16:37

    I have ANZ travel rewards for this purpose, however they've removed the complimentary flight so assess whether it's worth it due to annual fee…

    https://www.anz.com.au/personal/credit-cards/rewards/travel-…

    No foreign transaction fees and you get reward points

    This could replace both your 28D and Westpac, still worth having an Amex imo.

    Ugh just saw the no annual fee edit. I think Bankwest has some but don't know about points. Guess everyone else has covered it lol

  • E5TOQUE on 13/04/2021 - 21:54
    +1

    There is a wiki on or bargain which lists everything you need to know:

    https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra…

    Commbank Ultimate is offering 100,000 bonus points at the moment and seems to be a pretty decent card.
    Bankwest seems pretty good too. But they have 45 day interest free vs 55 days with Commbank.

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