New Barclaycard travel credit card is top for overseas cash withdrawals
Barclaycard has launched a new top credit card for use abroad – and unusually it charges no interest on overseas cash withdrawals if you pay it off in full. Here's how it stacks up against long-standing top picks Halifax Clarity and Creation.
The new Platinum travel card was launched by Barclaycard last week – here are the key need-to-knows:
It has no non-sterling transaction fees on spending or cash withdrawals overseas until 31 August 2018.
After 31 August 2018 a 2.99% fee will apply on every transaction abroad, so you'll need to find a new card.
If you don't pay off your balance in full each month, you'll be charged 11.9% rep APR on purchases and a hefty 27.9% on cash withdrawals.
Most overseas credit cards, including almost all our other top picks, charge interest on cash withdrawals, from the day you make the withdrawal until you pay it off. Unusually the new Barclaycard doesn't, provided you pay in full each month – which makes it a good option if you like to take out cash when on holiday or are visiting a country where card payments aren't widely accepted (though there's a £500 daily withdrawal limit so factor that in).
We haven't put the card top of our best buys, however. That's because it's only fee-free for two years, and it's issued by Visa, which tends to have slightly worse exchange rates than Mastercard (the Halifax Clarity and Creation Everyday are Mastercards).
Barclaycard says you're more likely to get the card if you're 21 or over with an income of more than £20,000/year. Our eligibility calculator, which does a soft search of your credit file and so has no impact on your creditworthiness, can tell you if you're pre-approved for the card.
How does the Barclaycard compare to other specialist overseas cards?
Here's how they stack up:
Top travel credit cards that charge no fees on purchases
| Card issuer | ATM fee | Cash w/d interest | Rep APR (if not repaid) | Check your chances of getting it | |
|---|---|---|---|---|---|
| Creation Everyday* | Mastercard | None | 12.9%-21.9% | 12.9% | N/A |
| Halifax Clarity* | Mastercard | None | 18.9%-25.9% | 18.9% | Eligibility calculator |
| Barclaycard Platinum* (1) | Visa | None | None | 11.9%; cash 27.9% (2) | Eligibility calculator |
| MBNA Everyday Plus | Amex | None | 7.4%-12.9% | 7.4% | N/A |
| Aqua Reward* | Mastercard | £3 or 3% | 39.9%-59.9% | 34.9% | Eligibility calculator |
| Post Office Platinum | Mastercard | £3 or 2.5% | 27.9% | 17.8% | N/A |
| Aqua Advance* | Mastercard | £3 or 3% | 39.9%-59.9% | 34.9% | Eligibility calculator |
| Saga Platinum (3) | Visa | £2 or 2% | None | 11.9%; cash 19.6% (4) | N/A |
| Lloyds Avios Rewards (£24 annual fee) (5) | Amex/ Mastercard | £3 or 3% | 18.9%-25.9% | 23.7% incl fee (18.9% on spending) | N/A |
| Nationwide Select* (current account custs only) | Visa | £3 or 2.5% | 27.9% | 15.9% | N/A |
| Santander Zero (6) | Mastercard | None | 27.9% | 18.9% | N/A |
| (1) No non-sterling fees until 31 Aug 2018. (2) You'll pay interest on non-sterling cash withdrawals if you don't repay your statement in full. Sterling cash withdrawals attract interest from the day you make the withdrawal. (3) Over-50s only – you may not be accepted if you've four or more credit/store cards. (4) You'll pay interest on cash withdrawals if you don't repay your balance in full each month. (5) New cardholders from Nov 2013. (6) Not accepting new applications. £10 dormancy fee, never been charged. | |||||
If you've already got one of our top-pick travel cards, it's unlikely to be worth getting Barclaycard Platinum as well, unless you're going to be withdrawing a lot of cash, where Barclaycard wins. Even then, in some cases, the savings will be small so you'll need to weigh up whether it's worth the hassle.
For info on how the top cards compare and what to watch out for when using them, see our Travel Credit Cards guide.
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15 October 2024
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