![]() In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. ,, , and Performance Drive are part of the Savings Media group. To be considered, the product and rate must be clearly published on the product provider's web site. Some providers' products may not be available in all states. Rather, a cut-down portion of the market has been considered. The entire market was not considered in selecting the above products. © 2022 | AFSL and Australian Credit License Number 515843 ![]() Usually this is listed in the fine print, so if unsure, double check, and shop diligently!Īrticle first published 26 February 2021, last updated 30 June 2021. From this author’s personal experience, Adobe, the publisher of Photoshop and Lightroom, charges a currency conversion fee, despite the website looking Australian. This is especially the case with American-owned companies, where the ‘Aussie’ site is just a skin and you’re actually purchasing through the US system. For all intents and purposes, the site looks Australian, but payments are actually routed through an overseas website or payments system, which can trigger currency conversion fees. au or /au so why are you being charged currency conversion fees?Īha, you’ve stumbled upon a neat little trick websites use. The site you’re purchasing from looks Australian, you’re shopping in Aussie Dollars, and the URL has. Shopping Online - Beware of the Hidden Currency Conversion Fee Luckily, many credit cards feature both, so you don’t necessarily need to compromise. You’ll have to do the maths yourself here - a credit card with no annual fee could end up working out better than one with no currency conversion fees, or vice versa. If you’re just going to be using your card for occasional travel or online purchases, and purchasing online from overseas, it hardly makes sense to spend, say, $200 on an annual fee when you’re only going to be saving $100 in currency conversion. Many of the fanciest cards still attract conversion fees of 3% or more. If you’re using your credit card for travel, generally you’ll have to decide whether you value airline points and lounge access, or zero currency conversion fees. On the flip side, many of the cheaper credit cards with no currency conversion fees have comparatively few extra perks. Features & PerksĪs said before, something has got to give, and the more perks you have on your credit card, the higher your interest rate could be. or more for cards with no currency conversion fees. ![]() Many of the lowest interest rate credit cards feature purchase rates less than 10% p.a., versus 19% p.a. While this is likely not a problem if you pay off your bill in-full every interest-free period, you could get stung if you let that bill run a bit loose. Many of the lowest rate cards do not tend to have perks such as zero currency conversion fees. You may have noticed the more perks you get on your credit card, the higher your interest rate. When you’re shopping around for a credit card with no currency conversion (a.k.a foreign exchange) fees, it’s important to consider a few things. ![]() Compare Credit Cards With No Foreign Transaction Feesīelow are a handful of credit cards with no foreign currency conversion fees.Ĭonsiderations when using a credit card with no currency conversion feesĪs the old saying goes, there’s no such thing as a free lunch. ![]()
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