Overseas Transaction Fees - Worth it still?

By HeinzHummer | Jun 06, 2017, 12:57 AM
All my spend will be in overseas transactions around 5-10k per month, my company will reimburse for the actual cost but not the fees, do you think it's still worth it for me to pursue a rewards / miles card or would the 3% fees outweigh the benefits?


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By jhor | Jun 06, 2017, 08:06 AM
I would consider the gain marginal unless you're earning several points per dollar and place a high value on points... You'd be earning 5-10k points at a cost of $150-300 if you earn 1 point per dollar and have a 3% foreign currency fee. If you have a card with no foreign transaction fee that also earns points, eg ANZ Travel Adventures or Coles Platinum Rewards then I'd consider it worthwhile.
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By Greg84 | Jun 06, 2017, 03:33 PM
CBA Diamond Amex is about to do away with Intl transactions fees & you still get the points...
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By HeinzHummer | Jun 06, 2017, 08:49 PM
What if i paid for each transaction on these cards with no overseas fees and then i balance transferred this card with a 'better' points card that offers the bigger sign up bonuses, or this balance transfer would be accepted?
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By sdtravel | Jun 07, 2017, 04:00 AM
Be careful if this is a personal card. Ive heard of banks having t's & c's saying that they can take back points if they feel that your transactions are not personal in nature and are commercial / business transactions. Im not sure why they care but they do it.

As others say try and find a card without transaction fees. 
There are some corporate cards out there that are able to earn points. Perhaps you might have to pay for the rewards fee yourself but there is less risk of points being taken back.
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By ChrisCh | Jun 08, 2017, 10:55 AM
Sdtravel: I think it's a liability thing - with a business credit card, a business is responsible for those charges (unless it's a personal liability card, of course), whereas with a regular personal credit card, a person is responsible - and there's the risk that purchases made on behalf of a business may not be reimbursed or that the business enters into administration etc. and doesn't reimburse the cardholder, leaving them with a hefty bill that they may not be able to afford to repay, which could cost the bank big $$ or see the cardholder trying to dispute those charges even though the charges were technically valid.
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By pkjames | Jun 08, 2017, 12:56 PM
there are a few cards with no forex fee but get rewards points:
COLES MC
ANZ Adventure
and a few others, 
all you are paying is the annual fee.
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