Are Travel Money Cards A Good Idea?

If you’re travelling for a couple of weeks or more and are planning to shop, a travel money card may be a good idea.

If it’s a quick jaunt and your total spend outside of hotels and air travel will be limited to $1000 or so – and your ATM use will be minimal – a travel money card probably won’t be cost-effective.

Is a travel card better than cash?

Prepaid currency cards are, their promoters claim, safer than carrying cash, give holidaymakers better exchange rates and are cheaper than using a debit or credit card abroad. But beware the small-print charges that can soon wipe out any savings the cards may offer.

What is the best money travel card?

The best euro and dollar prepaid cards

Card name Foreign ATM fee
FairFX Euro/Dollar Card €1.50 $2
Virgin Money Prepaid Travel Mastercard More info Minimum initial load is €100 or $1000. Thereafter €50 or $50 minimum applies. €1.50 $2
Minimum initial load is €100 or $1000. Thereafter €50 or $50 minimum applies.

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How does travel money card work?

A Travel Money Card is a card that you load foreign currency onto so it can be used overseas to withdraw cash at an ATM, in store, online or over the phone. You can use it in more than 36 million locations worldwide – choose the ‘credit’ option. Travelling to multiple destinations?

Do prepaid travel cards affect credit score?

There’s No Credit Effect — Good or Bad

Prepaid cards, unlike secured credit cards, aren’t reported to the three major credit reporting agencies, so using one won’t affect your credit score. That means you can’t use it to help build your credit as you would with a credit card (or a secured credit card).