The Best UK Credit Cards for Travel in 2024
Thinking of which travel credit card to use abroad? Here's 3 of the best to consider.
The Best UK Credit Cards for Travel in 2024
When traveling abroad, having the right credit card can save you money and offer valuable perks. In this article, we’ll explore the best UK credit cards for travel, focusing on the Halifax Clarity Credit Card, Monzo Flex, and the Barclaycard Rewards Credit Card. These cards are selected for their no foreign transaction fees, competitive rates, and travel-friendly features.
Halifax Clarity Credit Card
The Halifax Clarity Credit Card is a favourite among travellers for its simplicity and cost-effectiveness.
Key benefits:
No foreign transaction fees: You can use your card abroad without worrying about extra charges on your purchases.
No cash withdrawal fees: While there are no fees for cash withdrawals, interest is charged from the day of withdrawal, so it’s best to repay promptly to avoid extra costs.
Competitive exchange rates: Enjoy favourable exchange rates that can save you money on your international spending using the rates provided by Mastercard.
Potential drawbacks:
Interest on cash withdrawals: Interest starts accumulating immediately on cash withdrawals, even if you pay off your balance in full each month.
Interest on card purchases not paid in full: Unless you repay your balance in full each month, you’ll be charged interest on any card purchases.
If you’re interested in the Halifax Clarity Card, you can check your eligibility 👉 here.
Monzo Flex
Monzo Flex offers a unique blend of flexibility and control over your spending, making it a great option for travellers who want to manage their finances seamlessly.
Key benefits:
No foreign transaction fees: Spend abroad without incurring extra costs using the Mastercard rate.
Flexible payment options: Split your purchases into 3 - 24 month instalments with clear, upfront fees and no penalties for early repayment. Only the 3 month option can be split interest-free, the larger intervals all incur interest charges.
Seamless integration with Monzo app: Manage your spending, view transactions, and adjust payment plans all through the intuitive Monzo app.
Potential Drawbacks:
High APR for extended payments: If you need longer to repay, the APR can be quite high at 24% (at the time of writing and dependent on your circumstances).
Monzo account requirement: You need a Monzo current account to apply for Monzo Flex.
No cash withdrawals: Foreign or domestic cash withdrawals are not eligible to be split with Monzo Flex.
Monzo will allow you to check your eligibility inside of the app with a soft credit search which doesn’t impact your credit score.
Barclaycard Rewards Credit Card
Barclaycard Rewards Credit Card stands out for its all-around benefits, especially for frequent travellers alongside its 0.25% cashback feature.
Key Benefits:
No foreign transaction fees: Avoid extra charges on international purchases using Visa’s exchange rates.
No cash withdrawal fees: Like the Halifax Clarity Card, this card does not charge fees for cash withdrawals abroad if you repay in full.
Cashback on purchases: Earn 0.25% cashback on all your spending, providing a little extra return on your purchases. The cashback amounts will be credited to your account on the anniversary date of your account.
Additional perks for Apple users: Enjoy up to five months of free subscriptions to Apple services like Apple TV+, Apple Music, and more.
Potential Drawbacks:
Interest on cash withdrawals: Interest is charged immediately on cash withdrawals if not repaid promptly.
You can check your eligibility with Barclaycard 👉 here.
Comparison of Cards
Fees and Charges:
All three cards offer no foreign transaction fees, making them ideal for use abroad. However, interest on cash withdrawals varies, with both the Halifax Clarity and Barclaycard Rewards cards charging interest from the withdrawal date.
Rewards and Benefits:
Halifax Clarity: No fees for cash withdrawals, competitive exchange rates.
Monzo Flex: Flexible payment plans similar to Klarna or other Buy Now Pay Later products, seamless app integration.
Barclaycard Rewards: Cashback on purchases, free Apple service subscriptions if you’re in the Apple ecosystem.
Best For:
Halifax Clarity: Best for those who want a straightforward card with no foreign transaction fees and are cautious with cash withdrawals.
Monzo Flex: Ideal for users who want flexibility in managing payments and value app integration.
Barclaycard Rewards: Great for frequent travellers who can benefit from cashback and additional perks like free Apple subscriptions.
Which is the right card for you?
This is always a subjective matter and really depends on your needs. But here’s my take on these 3 cards:
Halifax Clarity
This card is great for using abroad for competitive exchange rates with no fees but beyond that it doesn’t serve much of a purpose in terms of perks for domestic spending. If you’re looking for a card purely for spending abroad then this is an ideal contender.
Monzo Flex
Although it’s a credit card which can be used abroad without exchange rate conversion fees it also pairs up as a Buy Now Later product. For instance, you can choose to pay off purchases immediately at the end of that month or over a period of 3 months without incurring any interest charges.
So it can be used for both your domestic and foreign spending. I personally use it for purchasing larger things at home and also abroad as a backup where my primary travel credit cards aren’t accepted.
However, if you’re keen on using a credit card for cash withdrawals abroad this won’t fit the bill so it depends on whether this is a key use case for your spending or not.
Barclaycard Rewards
This card is similar to the Halifax Clarity but it does offer a bonus of providing 0.25% cashback which provides some incentive for using it both at home and abroad.
I previously owned this card and was able to subsidise large purchases through its cashback mechanism. But again, you need to weigh this up against your other credit cards and the incentives they provide you i.e. larger cashback, points such as Avios or Amex points etc.
Conclusion
Choosing the right travel credit card can enhance your travel experience by saving you money and offering valuable perks.
The Halifax Clarity, Monzo Flex, and Barclaycard Rewards cards each offer unique benefits that cater to different needs. Select the one that best fits your travel habits and financial goals to make the most of your trips.
See you soon 👋
Legal disclaimer:
The content provided is for informational purposes only and is not intended as financial advice. While efforts are made to ensure accuracy, the author accepts no liability for errors, omissions, or any loss or damage arising from its use. Readers are advised to consult with a professional for financial decisions. Offers and links mentioned are subject to change without notice and are not guaranteed by the author.