Credit cards with no foreign transaction fees in Australia

A common mistake some people make is thinking that using their everyday credit card overseas will be the same as using it at home. Foreign purchases are notorious for having extra fees attached and this can get a little pricey if you’re not careful.

If you’re wondering if a no-fee foreign transaction fee credit card exists in Australia, we’ll introduce you to some. You’ll also get to know a debit card alternative with quite a few perks.

💸 Hold over 50 currencies in your account and spend at the mid-market rate with the Wise card while abroad.

Learn more about the
Wise Multi-currency account

What is an international/foreign transaction fee for credit cards in Australia?

An international transaction fee is a fee charged by the relative Australian bank or credit card issuer for any transaction made from or in a country outside Australia. A transaction may be a purchase from an overseas merchant or service provider, a cash withdrawal from a foreign ATM or an international transfer.

0% foreign transaction fee cards at a glance

Here below is a list of credit cards in Australia that come with no foreign transaction fees. The table features them in no particular order.

Card	Issuer / Circuit	Maintenance fees	Points / cash back	Foreign ATM	Interest / purchase rate
Westpac Lite card¹	Westpac/Visa	$9 per month or $108 AUD per year	Westpac cashback offers	Not available	45 days interest free period, and then 9.90% p.a.
Latitude 28° Global Platinum Mastercard²	Latitude/Mastercard	$0	N/A	The higher amount: 3% of the cash advance or $4 AUD	Interest free period of 55 days on purchases and then 21.99% p.a.
HSBC Low Rate Credit Card³	HSBC/Visa	$99 AUD per year	N/A	The higher amount: 3% of the cash advance or $4 AUD	Interest free period of 55 days then 12.99% p.a
Coles Rewards Mastercard⁴	Coles branded by NAB/Mastercard	$99 AUD per year	Flybuys points	$5 AUD + 2.5% of foreign cash advance value + potential fees applicable to cash advances	0% for 15 months then 19.99% p.a. thereafter
NAB StraightUp⁵	NAB/Visa	Ranges from $10, $15 or $20 per month depending on chosen credit limit Or no balance or purchase $0 fee	N/A	Not available	Based on credit limit choice = minimum monthly payment + monthly fee
Bankwest Zero Mastercard⁶	Bankwest/CommBank and Mastercard	$0	N/A	The higher amount: 2% of the cash advance or $4 AUD	Interest free period up to 55 days then 14.99% p.a. purchase rate thereafter
Low Fee Gold credit card⁷	CommBank/Mastercard	Conditional at $89 or $0	CommBank and Personalised rewards	The higher amount: 3.00% of the transaction amount or $3 AUD	Interest free period of up to 55 days, then 19.74% p.a thereafter

As seen on 20th December 2022

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A quick word about the Wise Debit card

The Wise debit card is a great option if you’re looking for a way to spend your money overseas without any foreign transaction fees. The Wise Debit card is attached to a Wise multi-currency account and lets you hold and convert over 50 currencies.

Main features and uses of this card account

The Wise debit card comes with:

• No monthly or annual fees
• Both physical and digital cards available
• Spend in 175 countries
• No foreign transaction fees on purchases
• Can be used to withdraw at ATMs in over 170 countries – except the ones listed here
• All currency conversions using the mid-market rate
• Ability to freeze or cancel your card in-app or online

Wise Debit card fees

Here are some of the fees associated with ordering a physical Wise Debit card

• One-time $10 ordering fee
• Two fee free ATM withdrawals per month up to $350 and 1.75% of value thereafter
• $1.50 fee on three or more withdrawals per month plus 1.75% of amount

Pros	Cons
No overseas transaction fees Linked with multi-currency account No monthly or annual fees No or Low ATM fees worldwide (keep in mind that additional charges may levied by the ATM provider)	All funds are own personal funds No cashback rewards

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

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Here are some of the top no-foreign-fee credit cards in Australia

If you are in the market for a new credit card to use while travelling, we’ve collected the top no-foreign-fee credit cards in Australia.

Below we’ll be discussing the following cards in more detail:

1. Latitude 28° Global Platinum Mastercard
2. Westpac Lite card
3. HSBC Low Rate Credit Card
4. Coles Rewards Mastercard
5. NAB StraightUp
6. Bankwest Zero Mastercard
7. Low Fee Gold credit card

Let’s get started, shall we?

Latitude 28° Global Platinum Mastercard

The Latitude 28 Degrees Global Platinum Mastercard is provided by Latitude, an Australian digital payments and finance business.⁸

Main features and uses of this card account

The main features of this card include²:

• Minimum $6000 credit limit
• No international transaction or currency conversion fees
• Interest free period on purchases for 55 days
• Free global WIFI at over 1 million hotspots with Boingo
• Access to special offers from Mastercard
• A flight delay pass on select air lounges when flights are delayed
• Four ways to pay off your balance
• Can be added to major digital wallet providers including ApplePay, GooglePay and SamsungPay

Holders of this card are able to decrease or increase their available credit limits to meet your travel needs.⁹

Latitude 28° Global Platinum Mastercard fees

Although you avoid international transaction fees with this card, you may be subject to some other fees including²:

• Payment handling fees
• A minimum cash advance fee of $4 or 3% of the purchase, whichever is greater
• $2.50 fee for requesting paper statement
• Late payment fee of $35
• 21.99% p.a. Interest rate on purchases

Pros	Cons
No monthly fee No international transaction fees Easy and quick online application Many potential offers from Latitude and Mastercard	High purchase rate on unpaid balances High cash advance interest rate and fee

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Westpac Lite Card

The Westpac Lite Card is issued by Westpac Bank Australia and can be used anywhere Mastercard is accepted.¹⁰ To apply for this card, applicants must apply to Westpac and meet certain eligibility requirements.¹

Main features and uses of this card account

The main features of the Westpac Lite Card are¹:

• Low purchase rate on unpaid balances
• No foreign transaction fees on purchases online or abroad
• A 45 day interest free period on purchases
• Cash back rewards through Westpac Lounge and Westpac Extras
• Fraud protection and a money back guarantee
• Can use the card before it’s delivered through major digital wallets

Unlike other Westpac credit cards, cash advances are not available for this credit card.

Westpac Lite Card fees

This card has no foreign transaction fees or late payment fees. There are a few fees you will need to pay including¹:

• Monthly card fee or $108 annual card fee
• 9.90% variable purchase interest rate

There is a minimum credit limit of $1000 and a maximum credit card limit of $20,000 available for this credit card.

Pros	Cons
No overseas transaction fees Cash back reward offers Money back guarantees and fraud protections	High annual maintenance fee Cash advance option not available

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HSBC Low Rate Credit Card

The HSBC Low Rate Credit card is offered by HSBC Australia and Visa. This card can be applied for online, by phone or in a HSBC branch in Australia.³

Main features and uses of this card account

Some of the main features you will get with this card include³:

• No overseas transaction fees
• Complimentary domestic travel insurance when card is used on purchase
• Access to mobile payment modalities Apple Pay and Google Pay
• Introductory balance transfer rate offer of 0% for 20 months (new customers only)
• No fee for additional card holders
• Up to 55 days interest free period on purchases

HSBC Low Rate Credit Card fees

This card comes with no foreign exchange fees on overseas purchases. There are other fees though for using this card including³:

• An annual fee of $99
• A purchase interest rate of 12.99%
• A cash advance fee of 3% or $4, whichever is higher
• An interest rate of 25.99% p.a. on cash advances.
• A minimum credit limit of $1000.

Pros	Cons
No overseas transaction fees Can have additional card holders with no fee Three ways to apply	Annual card fee High cash advance interest rate and fee High purchase rate

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Coles Rewards Mastercard

The Coles Reward Mastercard is a Coles branded credit card issued by National Australia Bank (NAB) and Mastercard. Card holders can collect Flybuys points on everyday purchases which can result in discounts at Coles supermarkets.⁴

Main features and uses of this card account

The Coles Reward Mastercard has many features including⁴:

• Waiver on foreign transaction fees
• Interest rate free periods on new balance transfers and purchases
• Collect flybuys points on everyday purchases in coles and other retailers
• Complimentary insurance on purchases
• Fraud protection by Coles Shield
• Access to payment plans on unpaid balances

Coles Rewards Mastercard fees

Although this card technically has no foreign transaction fees, this does not extend to international cash advances made inside or outside Australia. On top of this fee, this card has⁴:

• Annual cardholder fee of $99
• A fee of $1.95 on each domestic cash advance under $65
• 3% fee of value for domestic cash advance over $65
• International cash advance fee of $5 plus 2.5% of the value
• $30 AUD late payment fee for missed minimum payments

There is a minimum credit limit of $1000 and no fee for additional card holders.

Pros	Cons
Flybuys point can be redeemed for discounts at Coles or towards other retailers Insurance and fraud protection Access to payment plans	High interest rates and costs for using card if balance owed High cash advance fee and rates

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NAB StraightUp

The NAB StraightUp card is a no interest credit card product by National Australia Bank.¹¹ Customers can choose a borrowed credit limit of $1000, $2000 and $3000. Only one card can be applied for per person.⁵

Main features and uses of this card account

The main features of the NAB StraightUp card include⁵:

• Choice of three credit limits
• No international fees on purchases online or while travelling
• Can be used anywhere Visa is accepted

Unlike some other credit cards on the market, this card has a no use (with no outstanding balance), no fee policy.

NAB StraightUp fees

If you do make purchases, there is a fixed monthly fee and minimum payment requirement for each credit limit. These are⁵:

• $10 monthly fee and minimum payment of $35 for purchases with $1000 credit limit
• $15 monthly fee and minimum payment of $55 for purchases with $2000 credit limit
• $20 monthly and minimum payment of $110 for purchases with $3000 credit limit

Pros	Cons
No interest rates Three options of credit No foreign transaction fees	One card per customer No special reward programs attached No cash advances

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BankWest Zero Platinum Mastercard

The Bankwest Zero Mastercard is a credit card issued through Bankwest, which is a division of the Commonwealth Bank of Australia (CommBank). It comes in two available options, the BankWest Zero Classic and the BankWest Zero Platinum Mastercard. No foreign transaction fees are only available with the Platinum version.⁶

Main features and uses of this card account

The main features of the BankWest Zero Platinum card include⁶:

• No annual fees
• Interest free period up to 55 days on purchases
• Access an easy instalment payment plan on owed balances
• Minimum credit limit of $6000
• Complimentary travel insurance on overseas trips

BankWest Zero Platinum Mastercard fees

Here are some of the fees that may be incurred using this credit card.⁶

• Cash advance fee and interest rate of 21.99%
• Purchase rate of 14.99%
• $25 late payment fee

Pros	Cons
No annual fees Interest free period on purchases Complimentary overseas travel insurance Instalment plans available	No reward programs or cashback High interest rates on missed payments and cash advances

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Low Fee Gold Credit Card

This card is issued by Commonwealth Bank Australia (CommBank) as one of their low fee credit cards.⁷

Main features and uses of this card account

The main features of the Low fee Gold credit card includes⁷:

• No annual fee in the first year or if purchases equate to $10,000 or more in a previous year
• Interest free period up to 55 days on purchases
• No fee for additional card holders
• Mobile payments
• 24 hour fraud protection
• Opt in to Commbank Rewards for cashback opportunities
• Included travel insurance

Low Fee Gold Credit Card fees

There are no foreign transaction fees on overseas purchases, but this card does come with other fees. These include⁷:

• An annual fee of $89 if fee waiving conditions aren’t met
• A 21.24% p.a. cash advance interest rate
• A cash advance fee $3.00 or 3.00% of the transaction amount
• A $20 late payment fee
• 19.74% purchase rate
• Minimum credit balance of $4000

Pros	Cons
Additional cardholders at no extra cost Fraud protection and security features Activate travel insurance through Netbank app	Many terms associated with interest rates and fees Higher interest rates than some other Commbank credit cards

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Wrapping up

So if you're travelling soon or consistently making purchases overseas, any one of the above credit cards could be a good option, especially if you don’t have readily available cash to spend.

Remember though, that credit cards do have hefty fees attached if you do miss a payment or leave a balance owing. The best solution is to always use your own money.

With a Wise Debit card, you can spend your own money in over 175 countries and have no foreign transaction fees on your overseas purchases.

Join over 13 million customers currently enjoying Wise. It’ll only take a few minutes to register and see what’s inside.

Register your Wise account in minutes 🚀

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

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Sources:

1. Westpac Lite card details
2. Latitude features, fees and information
3. HSBC low rate credit card information
4. Coles rewards card
5. NAB StraightUp information
6. BankWest Zero Mastercard information
7. CommBank Low fee credit card
8. Latitude about
9. Latitude FAQ’s
10. Westpaccredit card terms
11. NAB StraightUp card interest rate

Sources checked on: 20 December 2022