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Best credit card with best foreign exchange rates?

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  • 25-03-2014 12:24pm
    #1
    Wcool
    Registered Users Posts: 640 ✭✭✭


    For the last 10 years I have been with MBNA and now Avantcard for my Visa credit card. Avant card not only raised the interest rate - which I normally don't care about as I pay everything off every month - but charges 3 percent per foreign transaction as commission. I think MBNA had none.

    Anyway, I try to use my Visa debit card a lot more these days (BOI, still 1.75 percent apparently, cheaper though) but sometimes I don't have the money upfront. Needless to say, these are the big transactions and that's where the 3 percent hurts even more.

    So my question is: does anyone know the best credit card available with the lowest foreign exchange rate/commission? I am not really interested in any other benefit like low interest repay rate or club points.


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    #2
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    Most of the other cards in Ireland charge 1.75% on non Euro purchases - and according to this the Avantcard charge is 2.65%.
    http://www.moneyguideireland.com/bank-debit-and-credit-card-charges-outside-the-eurozone.html


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    #3
    Wcool
    Registered Users Posts: 640 ✭✭✭Wcool


    Ogham wrote: »
    Most of the other cards in Ireland charge 1.75% on non Euro purchases - and according to this the Avantcard charge is 2.65%.
    http://www.moneyguideireland.com/bank-debit-and-credit-card-charges-outside-the-eurozone.html

    That link actually mentions that Avantcard has the highest rate!
    Ulster bank seems to be the cheapest.

    I wish there was a url somewhere that would compare the price of buying something online in a different currency for the major credit card vendors.


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    #4
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    Wcool wrote: »
    That link actually mentions that Avantcard has the highest rate!
    Ulster bank seems to be the cheapest.

    I wish there was a url somewhere that would compare the price of buying something online in a different currency for the major credit card vendors.

    That link did give you those figures - you need to read it again. :confused:
    Yes MBNA are the most expensive - all the others are cheaper to use when spending non euros.


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    #5
    Wcool
    Registered Users Posts: 640 ✭✭✭Wcool


    Ogham wrote: »
    That link did give you those figures - you need to read it again. :confused:
    Yes MBNA are the most expensive - all the others are cheaper to use when spending non euros.

    Yes you are right, I thought the figures were for cash withdrawal with credit card but it includes everything.

    The only thing you can't see is how their exchange rates generally compare to each other or is that the same? (for instance Visa sets the exchange rate?)


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