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What Is A Travel Money Card?

How does a travel money card work?

How many currencies can you load at once, other features to compare, how to get a travel money card, when is a travel money card worth it, alternative options.

A travel money card, also called a prepaid travel card, is a type of card that can hold foreign currencies. It’s intended for overseas travel, and you can use one to withdraw foreign cash from ATMs and to make purchases in a local currency. 

Think of a travel money card as a debit card that uses local currency. Before you use a travel money card, you’ll preload a set amount of a specific international currency onto the card at the day’s exchange rate. For example, if you’re travelling to Italy and France for two weeks, you’d load Euros (€‎) onto the card and use it instead of your regular debit or credit card during your trip. 

You can continue reloading money onto the card via an app or website as you spend your funds. So, if you blow through your Euros in Rome, you can top off your card’s balance before arriving in Paris. 

Understanding the value of your exchange

The value you exchange currency for will depend on when you load your funds. Rates change from day to day, but you’ll lock in the rate used at the time you exchange currency. So, you’ll know the exact worth of the foreign currency in Australian dollars every time you use your preloaded card. 

On the one hand, a locked-in rate protects you from volatile currencies with fluctuating values. However, if the rate drops, you could be stuck with devalued foreign funds. So, while you can’t predict the future, try to coordinate the load when the exchange rate is most valuable — even if that means waiting a few days. 

The number of foreign currencies available will depend on the company providing the card, but you’ll generally find a wide variety of options. Even if dozens of currencies are available, there are typically limits to the number someone can load onto a travel money card. These limits vary by card, but these cards generally only allow for about a dozen currencies at once.

For example, here are common travel money cards and the number of currencies they can support simultaneously:

• Australia Post Travel Platinum Mastercard: up to 11 currencies
• Cash Passport Platinum Mastercard (issued by Heritage Bank): load up to 11 currencies
• CommBank Travel Money Card: up to 13 currencies
• Qantas Travel Money Card: up to 10 currencies
• Travelex Money Card: up to 10 currencies
• Travel Money Oz Currency Pass Travel Money Card: up to 10 currencies
• Westpac Worldwide Wallet: up to 10 currencies. 

The number of currencies available and the ability to load multiple currencies onto one card have obvious advantages: it helps you save on fees and makes it easier to manage your money while travelling overseas .

However, there are other key features to compare when choosing a travel money card.

Another thing to look for is reduced or waived fees for loading or reloading funds, account keeping, account closing and emergency card replacements.

Be sure to check for any potential fees when accessing leftover foreign funds you didn’t use on your trip, as there may be an unloading fee or an extra charge to withdraw funds and close your account. For example, Travelex charges a $4 monthly inactivity fee when the card hasn’t been used for more than 12 months. 

Top-up options

How easy it is to use a financial product is typically important, but simplicity and convenience may feel more essential when you’re on holiday. In that case, options to quickly load or reload funds and notifications when your balance is low can be very helpful. Some cards may allow you to top up your balance immediately and with little cost. With others, you may have to wait a few days and pay a small fee.

Top-up methods also vary. For example, you can use BPAY with certain cards, but not all. Some cards may require you to use a specific app or portal. If convenience and flexible top-up options are important to you, compare options accordingly.

Perks and benefits

Travel perks, such as airport lounge access or the ability to earn rewards, are also great features to look for. Digital wallet compatibility, allowing you to use a virtual version of your card, can also be helpful.

Security and customer service

Security features are also important. Look for a card with a PIN to use at ATMs and the ability to lock the card instantly if lost or stolen.

And, since you’re travelling overseas, 24/7 customer support is essential to ensure you have access to help when you need it.

To get a travel money card , you can go through your bank, an airline, a foreign exchange retailer or a payment merchant.

Prepaid travel card eligibility is comparable to the requirements for a debit card. For example, CommBank requests that cardholders are at least age 14, are registered with NetBank, and provide a valid email and residential address. 

You can apply directly on the provider’s website once you choose your favourite prepaid travel money card. Make sure to submit your application at least a few weeks before your trip in case of delays. 

» MORE: How old do you have to get a credit card?

Activating the card

Once you receive the card: 

• download the provider’s app and familiarise yourself with how it works
• register your account
• activate the card
• convert your money to the chosen currency. You might want to start with a smaller amount for the first part of your trip and reload while overseas or make one big transfer. 

While overseas, you’ll likely alternate between paying in local cash and pulling out your travel card. Your goal is to find the best travel card that allows you to pay for items with minimal fees and maximum protections flexibly. 

Possible advantages

• Provides access to multiple currencies. Most options allow you to convert Australian dollars into several different currencies simultaneously. That means you can have secure access to a handful of foreign funds during your next multi-country adventure. 
• Saves on ATM fees. Credit card holders won’t usually be charged the standard 3% foreign transaction fee or pay extra for in-network ATM withdrawals, loading, and topping up their cards. However, these are just generalisations — each credit card company or bank will have its own fee structure.
• Exchange rates are locked. You’ll pay for the local currency using the exchange rate available when you load funds, which locks in the rate. Having dependable value for your funds goes a long way for peace of mind, especially when travelling. 
• Fewer risks when lost. Losing a prepaid card while travelling is undoubtedly a hassle. However, a lost or stolen credit card can mean more risks, like thieves potentially accessing your personal banking details and account funds. Since a lost travel money card is unlikely to result in identity theft and fraud , some travellers find it a safer choice while abroad.
• Helps with budgeting. Trying to keep to preloaded funds may help you stick to a budget while on vacation. Plus, you see the value of money in the local currency, which can help you manage your finances while travelling. 
• May come with rewards and perks. Some travel money cards earn frequent flyer points or come with other special travel perks, like overseas customer service. For example, the Qantas Travel Money Card earns Qantas points, and the Westpac Worldwide Wallet prepaid travel money card offers airport lounge access to the cardholder and one companion access when a flight is delayed. 

Potential risks

• There are delays when reloading. If you need to top up your balance, you may need to wait up to a few days before funds are available to use. 
• Other fees. Some travel money cards may levy typical credit card fees for reloading funds, emergency card replacement, account maintenance, closures, inactivity and more. For example, Travelex and the Australia Post Travel Platinum Mastercard charge a $10 account closing fee.
• Limited acceptance. Travel money cards are less common than other payment options, so you may need help using one for all purchases. So, it’s always a good idea to carry emergency cash. 
• Typically lack rewards or major perks. Travel money cards may come with some, but these extras are usually less robust than the offerings on rewards credit cards . 

The right travel money card supports a stress-free trip, but you don’t have to use one when travelling overseas — your bank card or credit card could also be a suitable option. 

If you’re deciding between a travel money card and a travel credit card , it’s important to understand the differences in how they work. 

• Travel money cards are preloaded with foreign currencies, while travel credit cards spend borrowed money. Travel money cards are generally easier to obtain as they don’t require good credit or income thresholds. With a travel money card, you can withdraw funds from an ATM without incurring interest or cash advance fees . 
• Travel credit cards don’t usually hold foreign currency but offer perks such as international buyer protections, free insurance , airport lounge access and frequent flyer travel points . 

Be sure to consider other important features — such as security, reduced fees and travel perks — to decide if a travel money card is worth it for you. 

Frequently asked questions about travel money cards  

The available currencies will depend on the card, but you’ll generally find the following options: 

• United States Dollars (USD)
• Europe Euros (EUR)
• Great British Pounds (GBP)
• Japanese Yen (JPY)
• New Zealand Dollars (NZD)
• Hong Kong Dollars (HKD)
• Canadian Dollars (CAD)
• Singapore Dollars (SGD)
• Thai Baht (THB)
• Vietnamese Dong (VND)
• Chinese Renminbi (CNY)
• Emirati Dirham (AED).

Most Australian banks — including Westpac, CommBank, ANZ and NAB — have some sort of travel product, whether that’s a travel money card, a travel-friendly debit card or a travel credit card. However, ANZ and NAB no longer offer prepaid travel money cards.

About the Author

Amanda Smith is a freelance reporter, journalist, and cultural commentator. She covers culture + society, travel, LGBTQ+, human interest, and business. Amanda has written stories about planning for retirement for…

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Travel money cards with the lowest fees

We look at seven travel money cards from the big banks and airlines..

Prepaid travel money cards are offered by major banks, airlines and foreign exchange retailers like Travelex. Before travelling overseas, you load money into the card account, which locks in the exchange rate for foreign currencies at that time. 

You can then use the card for purchases and cash withdrawals just like a debit or credit card, usually wherever Visa and Mastercard are accepted. 

You can reload money on-the-go via an app or website, and if the card is lost or stolen, it can be replaced (usually at no cost to you).

Prepaid travel money cards also give you assurance that you're not handing the details of your everyday banking account to merchants you're not familiar with, and they provide easy access to cash when you want some, says Peter Marshall, head of research at money comparison website Mozo .

CHOICE tip: Travel money cards are best for longer trips. They're usually not worth your while if you're only taking a short trip, as some have closure, cash out and inactivity fees.

Travel money card fees

A major difference between prepaid travel cards and debit or credit cards is their fees. Some costs aren't immediately apparent, such as hefty margins built into the exchange rates.

And although fees have come down since we looked at these cards two years ago, you still need to watch out for:

• fees to load the card – either a percentage of the total or a flat fee
• ATM withdrawal fees
• a cross currency fee or margin when you use the card in a currency you haven't preloaded
• further fees if you close the account or haven't used the card for a period of time.

Travel money card with the lowest fees and best exchange rate

Westpac worldwide wallet.

Westpac closed its Global Currency Card in July 2021 and offers its new card in partnership with Mastercard.  It's also available from Bank of Melbourne and BankSA.

Currencies: AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, ZAR.

Key features:

• No loading, reloading, closing or inactivity fees.
• Free to use it in network ATMs in Australia and partner ATMs overseas in a range of countries including the UK, US and New Zealand.
• A charge applies at non-Westpac and non-partner ATMs in Australia and overseas.
• Best exchange rates for the US dollar, the Euro and GBP in our comparison.*
• The only card that lets you preload the South African rand.

Other travel money cards

Next to the Westpac Worldwide Wallet, there are six other travel money cards available.

Australia Post Travel Platinum Mastercard

Available online or at post offices.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED.

• Fee to reload the card via BPay, debit card or instore, but free via online bank transfer.
• Closure fee.
• Fees for ATM withdrawals in Australia and overseas.

Cash Passport Platinum Mastercard

It's issued by Heritage Bank and is available online and from a number of smaller banks and credit unions (like Bendigo Bank and Bank of Queensland) as well as travel agents. 

• Fee to reload with a debit card or instore, but free via BPay.

CommBank Travel Money Card

CommBank Travel Money Card (Visa)

As NAB and ANZ have closed their travel money cards, this is the only other travel money card available from a major bank. This card has the largest variety of currencies that can be preloaded.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED, VND, CNY.

• Fee if you make a purchase with currencies not preloaded.
• Fee for withdrawals at overseas ATMs.

Qantas Travel Money Card

Qantas Travel Money Card (Mastercard)

The only travel money card offering from an airline. It can be added as a feature to your Qantas Frequent Flyer card, so you don't need a dedicated card, and you can earn points using it.

• Free to reload via bank transfer or BPay, but there's a reload fee if using debit card.

Travelex Money Card

Travelex Money Card (Mastercard)

Travelex is an international foreign exchange retailer. In Australia, it operates more than 140 stores at major airports and shopping centres, across CBDs and in the suburbs. It was the card with the best exchange rate for New Zealand dollars.*

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD.

Fees : 

• Load fee instore, but free via Travelex website or app.
• Reload fee instore or via BPay, but free via Travelex website or app.
• Closure fee and monthly inactivity fee (if not used for 12 months).

Travel Money Oz Currency Pass

Travel Money Oz Currency Pass (Mastercard)

The Travel Money Group is owned by Flight Centre and is a foreign exchange retailer. 

• Reloading the card via an online bank transfer or instore is free, but there's a fee if you reload via BPay, debit card or credit card. 
• Cash out (closure) fee. 

Travel money card tips

• Make sure the card allows the currencies you'll need, and also consider stopovers. For example, the South African rand is only supported by the Westpac card.
• Try to load your card with the right currencies and amounts on days with good exchange rates. 
• Make sure you know how to reload your card if you run out of funds while overseas.
• It may be more convenient to choose a card that has an app that can be linked to your bank account.
• Avoid loading more money than you'll need as there may be fees and exchange rate margins to get the unused money back.
• Remember to cancel the card once you're finished your trip, especially if it has inactivity fees.
• Be mindful that you still may need a credit card, as travel money cards may not be accepted as security for hotels and car rental agencies. 

Stock images:  Getty, unless otherwise stated.

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Wise Card vs Commbank Travel Card: A Full Comparison 2024

If you’re looking for a travel card which can help you conveniently and cheaply spend in foreign currencies – either when you travel or when you shop online with international retailers – you may have heard of the Wise card and the Commbank travel card.

Both options offer Australian customers easy ways to hold and exchange currencies, for spending and withdrawals at home and abroad. However, how they work is a bit different. The Wise card has a one time order fee of 10 AUD, with 40+ supported currencies and mid-market exchange rates, while the Commbank card is free to pick up, supports 13 currencies, and has rates set by Commbank, including a 3% fee to spend a currency you don’t hold.

Read on to learn more, and pick which option works best for you: Wise card vs Commbank Travel card.

Key points:

Wise card vs commbank travel card in australia: side by side.

Before we get into details: an overview.

Which card works best for you might depend on your preferences and how you’ll spend with your card.

Wise has a broader range of currencies, and uses the mid-market rate for currency conversion with low fees from 0.42%. You’ll get a couple of free ATM withdrawals monthly – but there’s an initial cost of 10 AUD to get the card in the first place.

You can pick up a Commbank Travel card in your local branch or order in Netbank if you’re already a customer, and hold 13 currencies. There’s no fee to get your card in the first place, but you pay 3% if you spend a currency you don’t hold in your account, or a currency that the card can’t support.

Go to Wise Go to Commbank  

Pros and cons

Wise card vs commbank travel card: the verdict.

The Wise card and the Commbank Travel card have similar features, including a multi-currency account option, and easy ways to spend and withdraw overseas. However, their focus is a little different which may make one more suited to you than another.

The Wise card has a fee to order – but then no ongoing charges, and can support 40+ currencies with mid-market exchange rate conversion. Fees are low and there are also other features like ways to send and receive global payments with low costs. This may make it a winner for customers looking for a long term solution to manage money across currencies with low fees.

The Commbank Travel card has no upfront fee, and no ongoing charges. It supports 13 currencies, but if the currency in your destination is not supported – or you forget to convert your balance – there’s a 3% fee. Flat ATM fees apply. This card can be handy for customers looking for a solution from an Australian bank, where you can walk into a branch to order a card and talk through your options with a team member.

How do they work?

To get a Wise card you’ll need to register a Wise account online or in the Wise app. You can then order a Wise card in a few clicks, for delivery to your home address. Your Wise card is linked to a multi-currency Wise account which can hold 40+ currencies and which you can view and manage using your phone or laptop.

Just add money in AUD or the currency of your choice, and switch to the currency you need for spending in your destination. If you’d prefer, you can also leave your money in dollars and let the card switch at the point of payment with no extra fee to pay. Currency exchange uses the mid-market rate with low fees from 0.42%.

You can order a Commbank card in Netbank if you’re a customer already, or visit a branch. Once you have your card you can add money with BPay, and switch to one of 13 supported currencies. It’s free to spend a currency you hold, but there’s a 3% fee to spend an unsupported currency or if you’ve not exchanged to the required currency already.

Commbank cards have no upfront fee and no ongoing charges.

Go to Wise Go to Commbank

Wise card limits

Generally there’s no limit to how much you can hold in your Wise account, which is linked to your Wise card. There are a few limits attached to the Wise card for security. When you get your card, the limits are set to a default amount per month. However, you can also set yourself daily limits within the Wise app if you’d prefer to control your cash flow differently.

Here are the Wise card limits for Australia:

• Minimum load: No minimum
• Maximum load: No maximum
• Maximum balance: No maximum
• Maximum spend amount: 52,500 AUD a month
• Maximum ATM withdrawal amount: 7,000 AUD a month

Commbank card limits

Commbank’s travel card limits work in a slightly different way to the limits of a Wise card – here’s a rundown:

• Minimum load: 50 AUD for first load, 1 AUD after that
• Maximum load: 10,000 AUD per day, to 100,000 AUD a year
• Maximum balance: 50,000 AUD
• Maximum ATM withdrawal amount: 2,500 AUD a day

What type of cards are they?

The Wise travel card is an international debit card, and can be issued on either the Visa or Mastercard networks. Both networks have excellent global coverage.

The Commbank Travel card is a Visa debit card, also globally accepted.

Are Wise and Commbank Travel cards available in Australia?

Yes. The Wise card is available to people living in Australia and most other countries globally – you can order your card using your local ID and proof of address more or less wherever you call home. The Commbank Travel card is available for Australian residents.

Wise vs Commbank Travel card: Fees

Getting a travel card for spending in foreign currencies can be a smart way to cut the costs of travel. However, as different providers have very different fee structures, shopping around is still important. Here’s an overview of the key fees you’ll pay with both Wise and Commbank:

*Correct at time of writing – 22nd February 2024

The costs of using your card overseas can vary depending on your spending patterns. One thing that’s worth checking is whether or not the Commbank card covers all of the destinations you’ll go to. If you don’t have the currency you need in your account you can still use your card – but there’s an extra 3% to pay, which can push up your costs overall. With 40+ currencies supported, the Wise card has a broader range, and may also have a lower currency conversion cost. Compare both to see which works best for you.

Which card is cheaper?

So, given they have somewhat different pricing schemes, which is cheaper: Wise or Commbank?

The answer is that it depends on the way you want to spend, and where you’ll be travelling to.

There’s a one time fee for the Wise card, of 10 AUD. Once you have your card, you’ll get a new one for free when your original one expires, and you can use your card all around the world for spending with the mid-market exchange rate. The one time fee might mean that the Wise card is a better choice for people looking for a card they can use for spending in foreign currencies over a longer period of time – there’s no ongoing fee to pay, so you can order your card and use it whenever you travel or spend online with foreign retailers, with low fees and the mid-market rate. Wise accounts also offer extras like ways to be paid in foreign currencies and easy options to send money to 160+ countries.

The Commbank Travel card has no initial fee to pay, which might make it a good option for a one time trip overseas. Make sure the currency you want is supported, as extra fees apply when you spend a currency you don’t hold.

Are Wise and Commbank Travel cards safe to use?

Yes. Both are safe to use with normal precautions.

Wise is a globally regulated business, which holds an Australian Financial Services licence (AFSL) and which is overseen by authorities globally. The Wise card comes with a handy app you can use to manage your money, check your balance, receive transaction notifications, and freeze or cancel your card if you have to. You’ll also get a Wise virtual card you can use for safer online shopping.

Commbank is a large and safe Australian bank, which is fully licensed – it also has the advantage of a branch network so you can always get face to face advice if you need it.

Ease of use

• Creating an account: Register with Wise online or in the Wise app. Creating an account with Commbank can vary depending on your specific needs – if you’re already a customer you can easily order a travel card in the app
• Ordering a card: Order a Wise card online or in the Wise app. You can order the Commbank Travel card in Netbank or your local branch.
• Where can be used: Both cards can be used globally
• Replacement: Your Wise card will be replaced for free when it expires – you’ll be reminded of the expiry date so you can check your shipping address. The Commbank Travel card is free to order – just pick up a new one when your old one expires.
• Visa or Mastercard: The Wise travel card is issued on either the Visa or Mastercard networks.The Commbank Travel card is a Visa debit card.
• Limits: Wise cards can hold an unlimited balance, with monthly limits on spending and ATM withdrawals which you can adjust in the Wise app.The Commbank Travel card has limits on the amount you can load and hold, including annual limits, as well as daily ATM limits.

Can I use the Wise and Commbank Travel cards abroad?

Yes. Both cards are optimised for international use. Use your card wherever the network is accepted – bear in mind that fees apply when spending a currency you don’t hold in the account. Commbank has a 3% fee, while Wise currency conversion starts from 0.42%.

Supported currencies on Wise and Commbank Travel cards

The Wise card supports 40+ currencies for holding and exchange. The Commbank Travel card can hold 13 major currencies.

You can use your card pretty much globally in both cases. However, it’s worth bearing in mind that there are costs if you spend a currency you don’t hold in your account. Commbank converts your balance using the Visa exchange rate and adds a 3% fee, while Wise uses the mid-market rate and fees from 0.42%.

Alternative cards

There are a few different options on the market in Australia if you’re looking for a travel card you can use for overseas and foreign currency spending. If you’re not sure about Wise and Commbank, you may want to consider:

Revolut: Open an account with no ongoing fees, or upgrade to one with monthly charges and more features. Hold 30 currencies, and get some no fee weekday currency conversion with all account tiers. Out of house conversion fees apply

Travelex: Pick up card in person or order online, with no ATM fees when you make a withdrawal. Cards are on the Mastercard network for global acceptance – bear in mind there are inactivity and account close fees

The Wise card and the Commbank travel card are both strong options for Australians looking for an easy and low cost way to spend in foreign currencies. Which works for you will depend a lot on how you’d like to use your card, where you’re travelling to, and what other account features you might want.

The Wise card has a one time fee – but once you have your card there are no ongoing costs and it’ll be replaced for free when it expires. You can hold 40+ currencies in your account and all currency conversion uses the mid-market rate with low fees from 0.42%. Accounts also come with extras like easy ways to send money to others in 160+ countries, and to receive payments with local bank details from a selection of countries.

The Commbank Travel card has no initial fee, and lets you hold 13 currencies. There’s no fee to spend a currency you hold, and no ongoing charges to worry about.

Use this guide to compare both options and see which will suit you best.

FAQ – Wise vs Commbank Travel cards

What is the difference between Wise and Commbank Travel cards?

Both cards are intended for foreign currency spending, and both offer great solutions for convenient currency exchange when you travel. The key differences include the fact that Wise cards support 40+ currencies, while Commbank only has 13, and that the Wise card has a one time order fee of 10 AUD, while Commbank has no charge initially.

Is the Commbank Travel card a Visa debit card?

The Commbank Travel card is a Visa debit card.

What type of card is a Wise card?

The Wise travel card is a debit card issued on either the Visa or Mastercard networks.

How to claim the money left on your travel card

Home from your holiday with cash left on your travel money card here's how to get it back..

In this guide

How to get the remaining funds off your travel money card

A comparison of prepaid travel money cards, some mistakes to avoid with leftover funds in your travel card.

Travel Money Cards

If you've still got foreign currency on your travel money card after a trip or your card's about to expire, it's still possible to get your money back. Use this guide to learn how to get funds back and what mistakes to avoid so you can get as much value as possible from your prepaid travel card.

Finder survey: What do Australians do with leftover funds on their travel card?

More than half of the Australians we surveyed simply transferred leftover money from their travel money card to their bank account.

The way you get your unused money varies depending on the travel money card. In some cases, it can be as easy as Internet banking, while in others it might require a trip down to the bank. Here's how it works with the major Australian prepaid travel cards.

Cash Passport Platinum Mastercard

If you have a Cash Passport Platinum Mastercard, you can get your funds off it by logging in to your account at auspost.com.au/cashpassport or by visiting a participating Australia Post outlet and presenting the card along with a valid form of photo ID. You can get funds even if the card has expired (check the expiry date on the front).

Just take note that the Cash Passport charges a monthly inactivity fee of $0 if you haven't used your card in 12 months. So if you want to cancel your card instead of keeping it for another trip, you can move the remaining balance to your bank account for a fee of $10 by calling Customer Service at +44 20 7166 7822.

The Travelex Travel Money Card

The card attracts a monthly inactivity fee of after 12 months of no usage, which can whittle away at your balance. It also charges a 2.95% withdrawal fee on domestic withdrawals within Australia. You can close your card at any distribution outlet and move remaining funds to your nominated bank account for an extra fee of .

If your card has expired, you can still get your funds through one of these options. Or, if you want to continue to use the account, you can request a new and have the money transferred over to it.

CommBank Travel Money Card

Valid for up to 3 years with no monthly inactivity fee, you can use the CommBank Travel Money Card on your next holiday or close it off and empty the remaining funds into your account at no charge. If you have an everyday CommBank account, you can transfer the money in real-time through NetBank. You can do this up to three months after the card has expired.

If you don't bank with CommBank, you can get your money off the travel card by visiting a branch. You can also withdraw the funds from any CommBank ATM free-of-charge after converting the foreign currency to Australian dollars.

With the , you can withdraw your remaining funds from a local ATM or close your account and have the funds transferred into your nominated account. Do note that withdrawals within Australia incur a 2.95% fee. A fee is also charged for account closures and cashing out any remaining value. You can do this by logging into the Suncorp Bank Multi-Cash Currency portal.

Qantas Travel Money

The Qantas Travel Money card doesn't incur an inactivity fee or ATM withdrawal fees, but a foreign exchange rate will apply when withdrawal is made in Australia on funds that are not in Australian dollars. You can close your card at any time at no cost by calling Mastercard Qantas Cash Global Support on 1300 825 302.

Australia Post

If you have funds remaining on your , you can either exchange the money back into your Australian dollars currency wallet and withdraw the funds from an ATM or fill out the Load&Go balance redemption form to have the funds sent to you via an Australia Post Money Order. It doesn't cost anything to close the account, but you will be charged $1 every month a balance remains in your account following expiry.

If you have money left over on your travel card, be sure to take note of and avoid the following possible pitfalls:

• Leaving your card open. If you're not travelling anytime soon, you might want to close the card once you've withdrawn your funds. Otherwise, you may still have to pay any inactivity fees or annual maintenance fees attached to the card.
• Expired cards. Most providers send a goodwill email to remind you of an impending expiry date. You can then request for closure, but failure to do so will unfortunately result in "Unclaimed Monies".
• Unclaimed monies. While banks previously forfeited your money once your card expired, unclaimed monies legislation now dictates that balances above $500 (which are left untouched after three years or unclaimed after card expiry) must be transferred to the Commonwealth Bank and held in trust. You can run a free search of all unclaimed monies through the MoneySmart website. Amounts below $500 are essentially forfeited if you don't close your account and claim them.
• Spending foreign currencies in Australia. Some banks charge domestic ATM withdrawal fees on your travel card, so be very careful reading the fine print. Since all fees are debited in Australian dollars, if you only have foreign currency on your card, that will incur more foreign currency conversion fees.

It is important to know the rules and conditions around your travel card. Depending on the fees and exclusions set by your provider, it may be wiser to withdraw remaining funds and close the account instead of keeping it for your next vacation. It is also worthwhile to factor in things like the card's loading and reloading fees as well as foreign currency trends when comparing your options.

Sally McMullen

Sally McMullen was a creative content producer at Finder. Sally wrote about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong. See full profile

More guides on Finder

The Wise Travel Money Card supports over 40 currencies, with free loading by bank transfer and an instant, virtual card. Here’s how its other features compare.

Revolut offers virtual and physical Visa cards, support for over 30 currencies and other travel perks – plus 3-month Premium trial with this offer.

Use finder's interactive world map to learn about variations in beer prices globally. Find out where in the world you'd pay a whopping $15.10 for a pint.

Discover the travel money options available for young people and how to prepare for a trip overseas.

The Travelex Money Card lets you load and spend in 10 currencies, with fee-free ATM options and overseas Wi-Fi. Check out its other features here.

Want to avoid fees and charges when using your card overseas? This guide explains the most common pitfalls when using travel cards.

Use this guide to understand foreign currency exchange and discover how to get the best deal.

Spend in up to 13 major currencies, lock in exchange rates and manage your account with the CommBank app when you use the Commonwealth Bank Travel Money Card.

With Qantas Travel Money cards (previously Qantas Cash), you can carry multiple currencies using a single card and earn rewards points.

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what about Post Office purchased travel Vis card?

Hi Heather,

Thanks for your question!

I’ve added some information regarding the Australia Post Load&Go card to this page.

If you have money left on your Australia Post Load&Go card when you return from your holiday, you can either exchange the money back into your Australian dollars currency wallet and withdraw the funds from an ATM or fill out the Load&Go balance redemption form to have the funds sent to you via an Australia Post Money Order.

Please note that while you won’t be charged for closing the account, you will be charged $1 every month a balance remains in your account following expiry.

I hope this has helped.

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Just a random advice warning.......

I previously had 2 commonwealth bank travel cards which i used overseas. I’m not the most organised of people, so they ended up in a draw, still loaded with funds, but I could still see these funds on my net bank online account.

Then mysteriously they disappeared from my online back account. I asked a staff member one day in a store, what happened.....oh, they disappear after you don’t use them for a while.

I just wonder how many people have had these, and like me, just forgotten about them.

They managed to trace them and I had the funds transferred into my account.

But please check any travel cards (no matter what bank) Incase you have lost funds out there. I was angry that comm bank would able to make these accounts simply disappear :(

This is only one of many ways that travel cards like this are a rip-off. There are so many better ways to manage money when travelling...

Nath ,This is very good advise. Much like many of these type of services your funds are held in account . Perhaps also check your Super as well.

I hope that you did give some money to the people at CBA for such good service .

Something else with travel cards. My last travel card had such a poor exchange rate that even with big fees for using my CBA keycard I decided it was better to just use the CBA keycard.

To repeat advice I have given many times:

To get cash overseas, open a Citibank Plus bank account, which comes with a Mastercard debit card that has no overseas ATM withdrawal fees and an excellent exchange rate. For larger purchases, get a Latitude 28 or Bankwest Zero Mastercard which have no fees for overseas purchases (in person or over the Internet) and again an excellent exchange rate. ING now offers debit and credit cards that can be used with no foreign transaction fees, but with monthly minimum transaction requirements. All these cards have no account fees.

This topic has been closed to new posts due to inactivity.

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Term Deposits 

Feel confident knowing exactly how much your money will earn. Lock-in a competitive interest rate from as short as 1 month to as long as 5 years.

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Save time by using your NetBank details.

Open in NetBank

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Call or visit your nearest branch.

Special offers

4.90% p.a. for 11 months.

Offer available from 10 May 2024 for a limited time only. Conditions apply. *

Features & benefits

Fixed return on your investment.

With our Term Deposit, if you don’t need immediate access to these funds you have the security of locking in a fixed rate of return, giving you greater peace of mind.

Choose from a range of terms

You can choose from a range of terms to suit your needs. Anything from 1 month to 5 years. 

Safe and secure

Combined balances of up to $250,000 per account holder are guaranteed and secured by the Australian Government.

Keep track of your investment

View, track and manage your Term Deposit alongside your other accounts in NetBank, CommBiz and the CommBank app.

Help when you need it

We’re Australia’s largest bank, with an extensive branch network across the country, and all phone-based specialists in Australia. We’re here to help you with your investment and your future plans.

Once your Term Deposit matures, if you forget to let us know what to do with your investment or you haven’t decided yet, we’ll keep your funds secure in our holding facility for up to six months.

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Some of our most popular rates

The above Term Deposit rates are available online and in branch for customers with a maximum limit of $1,999,999 per customer. For amounts greater than $1,999,999 or to open Business Term Deposits, please contact any CommBank branch or your relationship manager.

See more Term Deposit rates

If you don't provide instructions, funds will automatically be placed in the Term Deposit holding facility as a default. Holding facility earns a fixed interest rate, which may be lower than the rate offered for a fixed term. 

Latest rates as of 10 May 2024. Interest rates on offer may vary at any time without notice.

Fees & Charges

There are no set up or establishment fees.

If you want to withdraw your Term Deposit before it matures you’ll need to give us 31 days' notice. You may incur a prepayment interest adjustment and administration fee.

How to apply online

You can open a Term Deposit online under a personal or Self-Managed Super Fund (SMSF) name. To do so, you need to be 18 years or over and have: 

• A minimum deposit of $5,000 (call or visit your nearest branch for investments $2,000,000 and over)
• An Australian residential address
• An existing NetBank ID and CommBank account in your name. You’ll use this account to transfer money across to open your Term Deposit
• Your Tax File Number (TFN) or TFN exemption handy. You don’t have to provide your TFN or exemption to your Term Deposit but, by law, we have to withhold tax if you choose not to
• If you're an SMSF customer, you’ll need your ABN. To get an exemption from withholding tax, you’ll need to provide your TFN or TFN exemption separately by contacting us

For joint accounts:

• To open a joint account, please visit your nearest branch together

If you're a new customer or you'd like to invest more,  contact us  or  visit a branch

Easy to keep track

Manage online and on the go.

See, track and manage your Term Deposit alongside your other accounts in NetBank, CommBiz and the CommBank app.

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The fixed rate of return means you’ll always know what your investment’s worth and can plan how to use the interest earned.

Opt-in for free maturity alerts and e-notices

Opt in for alerts and we’ll send you an email or SMS a week before your Term Deposit matures – so you never miss your maturity date. 

Opt in for e-notices and replace the clutter of paper notices. Look back at old notices in NetBank and we’ll email you when a new one is available.

Options at maturity

Proactively renew your Term Deposit for another term to immediately lock in a new interest rate. You can also top it up with additional funds or withdraw a portion of your Term Deposit. 

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Withdraw all of your investment including the interest you’ve earned.

Place in Holding Facility

Place your money in our Holding Facility while you decide what to do.

If you don’t provide instructions to us, your money will be placed in our Holding Facility until you let us know what you want to do.

Your money will continue to earn a variable interest rate that’s paid weekly.

Let us know your maturity instructions

You don’t need to visit us at a branch or call us to let us know what you’d like to do when your Term Deposit matures. Simply let us know your maturity instructions through NetBank.

Watch how to manage your Term Deposit maturity in NetBank  (opens in YouTube).

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*  Available on balances from $5,000 to $1,999,999 with interest paid annually.

Special Offers are available on Term Deposits opened or renewed by personal or Self-Managed Super Fund (SMSF) customers only. The offer is not available to all other Business customers (including Financial Institutions). Personal and SMSF customers can access this special offer online via NetBank and the CommBank App, or visit their nearest branch. Renewing Personal and SMSF Term Deposit customers can also call 13 2221.

The target market for this product will be found within the product’s Target Market Determination,  available here .

This information has been prepared without considering your objectives, financial situation or needs.  You should, before acting on this, consider the appropriateness of the product to your circumstances.

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You will receive a welcome email shortly, how does commbank’s new digi home loan compare.

A low headline rate from a Big Four bank is bound to turn heads. But is CommBank’s new Digi Home Loan more than just a pretty face? 

CBA’s newest home loan offering charges a competitive 6.19% p.a. (6.32% p.a. comparison rate*), which smashes the long-held average variable Big Four home loan rate in the Mozo database, at 7.41% p.a. (for owner-occupiers paying principal and interest on a $400,000 loan, with <80% LVR. Correct as at 5 June 2024). 

It even beats the average non-Big Four variable rate in the database for the same borrower criteria, at 6.77% p.a. 

But there’s a catch…

The Digi Home Loan is only available for refinancers with a maximum loan-to-value ratio (LVR) of 80%. This means first home buyers and those without a 20% deposit will have to look elsewhere. 

The Digi Home Loan is also pretty basic when it comes to features. For instance, there’s no option to use an offset account with this home loan. However, you can make unlimited extra repayments and redraw them whenever you like for free – as long as you complete the transaction through the CommBank app or online (you’re charged $15 to do it over the phone or in-branch). 

There’s also the matter of the $10 monthly service fee which, for a home loan that is meant to be completely digital (i.e. not requiring the intervention of a bank teller to process repayments), seems high. That being said, it’s not uncommon to see lenders charging a monthly fee, and there is (sort of) a way around it if you’re a CommBank Yello customer.

CommBank Yello Homeowner customers can get their $10 monthly service fee back as cashback, so long as they meet the eligibility requirements, which include making 30 eligible transactions per month using an eligible CBA transaction account or credit card (T&Cs apply).  

Why not just go with Unloan? 

If you’re after a competitive home loan, with the backing of a Big Four bank, then consider Commbank’s ‘digital brainchild’ , Unloan. 

It’s done away with fees, comes with a lower interest rate, is available for new borrowers and refinancers alike, has won several Mozo Experts Choice Awards , and even has an automatically discounting interest rate.

Unloan Variable (Owner Occupier, LVR <80%)

• 5.99% p.a. variable rate (5.90% p.a. comparison rate*)
• Zero upfront or ongoing fees
• Low cost home loan winner - Mozo Experts Choice Awards 2023 & 2024^

Unloan’s Variable Home Loan has taken out a low cost home loan award for the second year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.99% p.a. variable rate (5.90% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.

Where do I get it? Head over to Unloan to find out more >>

This highlights why a home loan comparison is so important for those looking to save money on interest repayments and fees.

Of course, these are two rates out of the more than 400 home loans Mozo tracks. To see more, compare home loans today.

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

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WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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Personal Finance

Best travel credit cards for june 2024.

Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partners’ links. This content is created independently from TIME’s editorial staff. Learn more about it.

The best travel credit cards unlock a world of free and discounted travel. If you travel a lot, one of these cards could be worth obtaining. Depending on your travel preferences and goals, you may want a card with no annual fee, ultra-luxury premium rewards, or many points per purchase. Here’s a closer look at the best travel rewards cards to help you see the world at a fraction of the cost.

Best Travel Credit Cards: Summary

Best for beginners: card_name, best for premium travel: card_name, best for no annual fee: card_name, best for intro bonus offer: card_name, best for airport lounge access: card_name, best for business: card_name, best for insurance coverage: card_name, best airline credit card: card_name.

• Best hotel credit card: Marriott Bonvoy Boundless® credit card

Our recommendations for the best travel credit card

The best travel credit card varies depending on your travel preferences. If you’re loyal to a specific airline or hotel, you may consider that brand’s card. A general miles or points rewards card could be the best choice for travelers looking to get the maximum value across a wider range of redemption options.

Chase Sapphire Preferred® Card

Why we like it:, product details:.

• Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel(SM).
• Enjoy benefits such as 5x on travel purchased through Chase Travel(SM), 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel(SM). For example, 75,000 points are worth $937.50 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
• Member FDIC

The card_name is our pick for the best credit card for general travel rewards for beginners. It does a great job of balancing a robust rewards program with a reasonable annual fee. If you’re new to travel rewards cards or want a top card you can use everywhere without spending more than $100 per year, this card should be on your shortlist.

New users who spend at least $4,000 on the card in the first three months get 60,000 bonus points worth $750 when redeemed for travel through Chase Ultimate Rewards . For purchases, you’ll earn five points per dollar spent on travel at Chase Ultimate Rewards; three points for dining and eligible delivery services, online grocery purchases, excluding Target, Walmart, and wholesale clubs, and select streaming services; two points for other travel; and one point everywhere else. Points are transferable to airline and hotel partners, including United , Southwest , and Marriott.

The card also provides other perks, including travel and purchase protections. You’ll also get $50 back as a statement credit each year for hotels booked through Chase. While there’s a annual_fees annual fee, it’s easy to see how you’ll get that back and much more every year when using the card regularly.

Capital One Venture X Rewards Credit Card

One of the newer premium travel cards, card_name , comes with a wide set of travel benefits, including access to Capital One lounges and more than 1,300 additional lounges through Priority Pass and Plaza Premium Group. While the card requires a steep annual_fees annual fee, getting that value back and more is easy. Users get a $300 annual statement credit for travel booked through Capital One Travel, a $100 credit for TSA PreCheck or Global Entry , and a $100 statement credit with other premium services when booking certain hotels through Capital One.

The card_name starts new users with 75,000 miles after spending $4,000 in the first three months, and you’ll earn 10,000 bonus miles annually on your account anniversary. For purchases, you’ll get 10x miles per dollar on hotels and rental cars booked through Capital One Travel, 5x miles per dollar on flights booked through Capital One Travel, and 2x everywhere else. Capital One miles are redeemable through Capital One and a list of transfer partners .

Other benefits include premium experiences and museum access through complementary memberships to PRIOR, The Cultivist, and $300 toward a Gravity Hauss membership. If you book a flight when Capital One Travel recommends and the price drops within 10 days, you can get up to $50 credit back.

Capital One VentureOne Rewards Credit Card

If you don’t want to shell out $100 yearly just to have a travel rewards card, the card_name could be a winner. With this card, users earn five miles per dollar spent on rental cars and hotels booked through Capital One Travel and an unlimited 1.25 miles per dollar on other purchases.

New users can earn 20,000 bonus miles after spending $500 in purchases in the first three months. There are no foreign transaction fees, either, and the list of travel insurance and purchase coverage is impressive, considering there’s annual_fees annual fee.

Another advantage is that VentureOne starts new users with a intro_apr_rate,intro_apr_duration and balance_transfer_intro_apr,balance_transfer_intro_duration . If you want to consolidate and pay off other cards or make a big purchase interest-free, card_name may be the best choice for you.

Capital One Venture Rewards Credit Card

card_name is an excellent card for easy-to-understand travel rewards. You earn 5x miles per dollar spent on hotels and rental cars booked through Capital One Travel and a flat 2x miles per dollar on other purchases. These miles can be redeemed through the Capital One Travel site, used to cover the cost of a recent eligible travel purchase, or transferred to a list of partner travel brands. Redeeming them for cash, events, and gift cards is also possible.

Other benefits include a credit for Global Entry or TSA PreCheck, two free Capital One lounge visits per year, and the most important travel and purchase protections anyone would want from a travel card.

There’s a annual_fees annual fee, but it’s easy to get that back and more redeeming Capital One miles for travel.

The Platinum Card® from American Express

The card_name is an ultra-luxury credit card unlocking a huge heap of benefits, including express lanes and access to lounges at airports, gold status at Marriott and Hilton hotels, and about $1,500 worth of various travel, membership, and purchase credits. On top of that, new users can earn 80,000 membership rewards points after spending $6,000 in the first three months.

The card carries a steep annual_fees annual fee ( Rates & Fees ), but it’s easy to see how you get more than that back in a year if you use its benefits fully. Additional users can get free Amex Gold cards or up to three additional Platinum cards at $175 per year. Additional users beyond that cost $175 each.

Benefits include a hotel credit worth up to $200 for prepaid bookings with American Express Travel for Fine Hotels + Resorts or The Hotel Collection, a $189 statement credit annually to cover a Clear membership, a credit of up to $100 for Global Entry or TSA PreCheck, up to $20 per month for select entertainment purchases, up to $300 per year in statement credits for Equinox memberships, $12.95 per month in statement credits for a Walmart+ membership, and $50 in statement credits twice per year when shopping at Saks Fifth Avenue. It also includes $15 monthly in Uber Cash ($20 in December) and Uber VIP status. Users also get Gold-level status with the Marriott Bonvoy and Hilton Honors programs .

The rewards are not all that impressive, however. You earn five points per dollar spent on flights booked directly with airlines or through Amex Travel, hotels booked on Amex Travel, and one point for everything else. Points are redeemable through Amex and transferable to a list of airline and hotel partners. The card is worthwhile for frequent travelers when you add up the massive travel benefits.

Ink Business Preferred® Credit Card

The is the best business card for travel due to its rewards flexibility, foreign transaction fees, and protective consumer benefits.

You may like the card_name if you run a business, even a side hustle. The card comes with a huge 100,000-point bonus after spending $15,000 in the first three months. That’s worth $1,250 in travel when redeemed through Chase or potentially more when transferring to travel partners.

The card features 3x points per dollar on shipping purchases, advertising purchases made with social media sites and search engines, internet, cable and phone services purchases, and travel.

The card also comes with a good list of travel and purchase protections, including cell phone insurance when you use the card to pay your monthly bill. And like most premium travel cards, there are no foreign transaction fees. While it has a huge starting bonus and great benefits, it also requires a annual_fees annual fee.

Chase Sapphire Reserve® Card

This card's generous benefits and flexible Chase Ultimate Rewards points make it an excellent deal for those who can use them. Users get a Priority Pass Select airport lounge membership (retail value $469), a $300 annual travel credit that applies to travel purchases each year, 50% more value when redeeming their rewards for travel through Chase, a fee credit toward Global Entry or TSA PreCheck membership , and a generous suite of travel insurance benefits.

• Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel(SM).
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel(SM) immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Travel(SM). For example, 75,000 points are worth $1125 toward travel.
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass(TM) Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck(R)

card_name is a premium travel card loaded with valuable benefits. While it requires a large annual_fees annual fee, you get the first $300 back on travel purchases with the card, up to $100 in statement credits every four years for TSA’s trusted traveler programs, and a complimentary Priority Pass Select membership with access to more than 1,300 lounges.

New users can earn 60,000 bonus points after $4,000 in purchases in the first three months. For purchases, you’ll earn 10x points per dollar spent with Chase Dining or when booking hotels or rental cars through Chase Ultimate Rewards, 5x for flights booked through Chase, 3x for travel and dining purchases, including restaurant delivery, and 1x everywhere else.

The package of travel and purchase insurance is also quite valuable. The card includes trip cancellation/interruption insurance, auto rental collision damage waiver coverage, lost luggage reimbursement, trip delay reimbursement, and emergency evacuation insurance. For purchases, it includes purchase protection for new purchases for up to 120 days, return protection, and up to an additional year of warranty coverage.

United℠ Explorer Card

If you’re looking for an airline-specific credit card, the card_name Chase is a standout option. The card comes with a list of benefits rewarding United travelers, with bonus miles, free checked bags, and other benefits. New users can earn 60,000 miles after spending $3,000 with the card in the first three months.

You’ll earn 2x miles per dollar for purchases with United. The same 2x rate extends to dining, restaurant delivery, and hotels booked directly through the hotel company. It features 1x mile per dollar on all other purchases.

When flying with United, the cardholder and a companion get their first checked bag free, worth up to $140 per roundtrip. The card also includes an opportunity to earn Premier qualifying points, which get you closer to elite United status. Users also get a one-year complimentary DashPass subscription, offering discounts with DoorDash. It includes excellent travel insurance benefits, purchase protection, extended warranty protection, and complimentary Visa Signature Concierge service access.

Marriott Bonvoy Boundless Credit Card: Best hotel credit card

Marriott Bonvoy Boundless® Credit Card

The Marriott Bonvoy Boundless Credit Card from Chase is a top hotel card. While it has a $95 annual fee, an annual free night award worth up to 35,000 points is easily worth more. When you stack points from the card and Marriott Bonvoy membership, you can earn up to 17x points per dollar on purchases made with Marriott, which has more than 7,000 properties worldwide.

New users can earn 100,000 bonus points after spending $3,000 in the first three months after opening a new account. Users get automatic Silver Elite status and credit toward the Gold Elite tier. The card also features a one-year complimentary DoorDash DashPass membership.

Travel insurance benefits are fair and include lost luggage reimbursement, baggage delay insurance, and trip delay reimbursement. It also includes purchase protection and Visa Signature Concierge service.

Best travel credit card comparison chart

Our methodology.

To choose the best travel credit cards, our team reviewed dozens of cards from multiple issuers. We looked at the best rewards for regular purchases, the best signup bonuses, and the best travel-related benefits. We also considered annual fees and other common costs that you’re likely to incur. We didn’t, however, consider interest rates, as travel rewards cards are best for users who pay off the card in full monthly to avoid interest charges.

How to maximize your rewards with your travel credit card

If you want to maximize your rewards with travel credit cards, follow these quick tips:

• Use your credit card for every purchase: You don’t earn miles or points when you don’t use the card. Use your rewards card for every eligible purchase to earn as much as possible. But be careful not to overspend and get into trouble with high card balances.
• Consider multiple rewards cards: Mixing and matching multiple cards can get you the best rewards. For example, picking one card for restaurants, one for groceries , and one for gas could help you earn more.
• Research each redemption: Don’t redeem your points without considering the value. When transferring to airline partners, getting values well over one cent per point is possible.

How to choose a travel credit card

Everyone has different travel goals, credit histories, incomes, and spending habits. Here are some additional considerations to guide your choice:

• Spending habits: If you always cook at home and never go to restaurants, a restaurant rewards card wouldn’t be practical. Consider your budget and spending habits to find the best card .
• Annual fee tolerance: Some people are okay with annual fees, while others will only tolerate them up to a certain point. With some popular cards requiring over $600 per year, you have to ask yourself what you would be willing to pay and which benefits you’ll use regularly.
• Desired benefits: If you want airport lounges, status with a certain hotel or airline, or fast lines at the airport, find a card with those benefits.
• Brand loyalty: Finally, if you love one airline or hotel—or simply find one most convenient for your travel priorities—its branded card could be a good choice or addition to one of the cards above.

How to compare credit cards

Every issuer offers different benefits and rewards. When comparing travel cards, look at the rewards program to determine if it favors your spending habits. Then look at any costs or fees you expect to pay, such as annual or foreign transaction fees. Next, look at statement credits and other benefits. The card that yields you the biggest net benefits (rewards and benefits minus expected annual fees and other costs) should be your top pick.

Also, consider the card’s credit score and other credit requirements before applying. That information should be available on the issuer’s website or by contacting its customer service desk.

Types of travel credit cards

Our favorite travel credit cards are general miles and points rewards cards. General rewards cards feature points or miles redeemable at a big list of airlines, hotels, and potentially additional travel companies.

Depending on your location and travel preferences, you may also find brand-specific cards helpful. For example, the United MileagePlus Explorer card comes with benefits and rewards miles only for use with United Airlines. Most airlines and hotels offer at least one credit card for loyal customers.

Alternatives to travel credit cards

If you don’t want a travel credit card, cash back credit cards are an excellent choice. Many of them have no annual fee. And, if you’re not into travel, the rewards come in the form of cash or points redeemable for cash.

Most cards with cash back rewards allow you to redeem for statement credits, which lower your credit card balance; direct deposit to a linked bank account; and sometimes for travel, gift cards, Amazon.com purchases, and other redemptions. Merchandise is usually a low-value redemption for your points.

You can also find cards with no rewards, often featuring lower fees and interest rates. A secured credit card may be the right choice for someone with bad credit or no credit.

Frequently asked questions (FAQs)

What’s the difference between points and miles on a travel credit card.

Points and miles on a travel credit card are rewards earned through spending on the card. While they share similarities, there are some major differences between them.

General rewards points tend to offer more flexibility for redemption, as they can be used for various rewards, including flights, hotel stays, car rentals, and even cash back. However, miles are usually restricted to flight redemptions with a specific airline or its partners. Some travel credit cards may allow you to convert miles into points or vice versa, but this typically comes with a conversion rate and may not always offer the best value.

Ultimately, the difference between points and miles on a travel credit card comes down to how they are earned, their redemption options, and their value. Understanding the specific rewards program and choosing a card that aligns with your travel habits and preferences is essential to maximizing your rewards.

How do I know if a travel credit card is right for me?

Determining if a travel credit card is right depends on your spending habits, travel frequency, and personal preferences. First, consider your travel patterns and the type of travel rewards you desire—such as airline miles, hotel points, or more flexible rewards redeemable for various travel expenses. Frequent travelers who can take advantage of perks like lounge access, priority boarding, or free checked bags may find travel credit cards more valuable.

Additionally, assess your spending habits and ability to earn rewards. Travel credit cards often have higher annual fees and interest rates, so ensure that you can offset these costs through rewards, perks, and benefits. The right travel credit card for you should align with your lifestyle, provide valuable rewards, and offer perks that enhance your travel experiences.

The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.

US Dollar Bounces as Strong Jobs Report Likely Delays Fed Easing This Year

Woman holds U.S. dollar banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) -The U.S. dollar rebounded on Friday after data showed the world's largest economy created a lot more jobs than expected last month, suggesting that the Federal Reserve could take time in starting its easing cycle this year.

The dollar index, which tracks the currency's value against six major peers led by the euro, rose 0.8% to 104.91, its best daily gain since April 10.

For the week, the index was on track for a 0.2% gain, with the strong jobs number offsetting a run of weaker macro data that had earlier prompted investors to put two quarter-point Fed rate cuts back on the table in 2024.

U.S. nonfarm payrolls expanded by 272,000 jobs last month, data showed, while revisions showed 15,000 fewer jobs created in March and April combined than previously reported. Economists polled by Reuters had forecast payrolls advancing by 185,000.

Average hourly earnings rose 0.4% after having slowed to a 0.2% rate in April. Wages increased 4.1% in the 12 months through May following an upwardly revised 4.0% annual rise the prior month.

The unemployment rate, however, edged up to 4% from 3.9% in April, breaching a level that had previously held for 27 straight months.

"The markets and the Fed bow down to the holy grail of one number, and it is the payrolls report. Of course, it is not just about that headline print but also the higher-than-expected wage number," said David Rosenberg, founder and president of Rosenberg Research in Montreal.

"But as they say — 'it is what it is.' And because we know what the Fed is laser-focused on, and how the Fed is so omnipresent when it comes to market activity in stocks and bonds, consider this to be a bearish report because it simply will embolden the hawks on the FOMC (Federal Open Market Committee)."

The FOMC is not expected to make any change at its policy meeting next week,

Following the jobs data, the rate futures market has priced in just one cut of 25 basis points this year, either at the November or December meeting, according to LSEG's rate probability app.

The chances of a rate cut in September declined to about 50.8% post-jobs, from around 70% late on Thursday.

The dollar rose 0.6% against the yen to 156.64. The U.S. currency was still down 0.4% on the week, on track for its worst weekly performance since late April, or around the time Japanese monetary authorities stepped in to the market to prop up the yen.

Like the Fed, the Bank of Japan decides rate policy next week, and consensus is building in the market for an imminent reduction in its monthly bond purchases as a means of tightening credit conditions.

Despite recent firmness, the yen remains not far from the 34-year trough beyond 160 per dollar reached at the end of April, which prompted Japanese officials to spend some 9.8 trillion yen ($62.9 billion) intervening in the currency market to support it.

The euro, meanwhile, dropped 0.8% versus the dollar to $1.0803. On the week, Europe's single currency slid 0.4%, its largest weekly percentage loss since the week starting April 8.

The currency's losses also came a day after the European Central Bank cut rates in a well-telegraphed move, but offered few hints about the outlook for monetary policy given that inflation is still above target. Sterling, meanwhile, retreated 0.5% against the dollar to $1.2722 after earlier in the session hitting $1.2825, the highest level since mid-March.

Currency              

Descript RIC Last U.S. Pct YTD High Low

ion Close Chang Pct Bid Bid

Dollar 104.88 104.11 0.76% 3.46% 104.93 103

Euro/Dol 1.0803 1.089 -0.8% -2.13% $1.090 $1.

Dollar/Y 156.63 155.95 0.44% 11.05% 157.05 155

Euro/Yen 1.0803​ 169.44 -0.15 8.71% 169.97 168

Dollar/S 0.8964 0.8893 0.8% 6.52% 0.8972 0.8

Sterling 1.2719 1.2791 -0.54 -0.03% $1.282 $1.

/Dollar % 5 080

Dollar/C 1.3749 1.367 0.59% 3.73% 1.3758 1.3

anadian 663

Aussie/D 0.6582 0.6667 -1.25 -3.44% $0.668 $0.

ollar % 1 658

Euro/Swi 0.9682 0.9683 -0.01 4.26% 0.9708 0.9

Euro/Ste 0.849 0.8512 -0.26 -2.05% 0.852 0.8

NZ 0.6107 0.6201 -1.46 -3.31% $0.620 0.6

Dollar/D % 3 106

Dollar/N 10.7092 10.5439 1.57% 5.66% 10.716 10.

orway ​ 1 529

Euro/Nor 11.5681 11.4855 0.72% 3.08% 11.575 11.

Dollar/S 10.541 10.3911 1.44% 4.71% 10.548 10.

Euro/Swe 11.3863 11.3143 0.64% 2.35% 11.398 11.

(Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Amanda Cooper in London and Kevin Buckland in Tokyo; Editing by Alex Richardson, Andrew Heavens and Matthew Lewis)

Copyright 2024 Thomson Reuters .

Tags: Canada , United States , New Zealand , United Kingdom , Europe , Japan , Australia

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