Best Cashback Credit Cards for Overseas Spending Comparison

 

Best Cashback Credit Cards for Overseas Spending Comparison

Credit Cards Overseas Transaction Fees

Credit cards typically charge 2.5% to 3.5% for overseas transactions in a different currency. These transaction fees are usually lower then the merchant's exchange rate. Hence, it makes sense to charge your purchases in a foreign currency when abroad and use the credit card's exchange rate instead of the merchant's exchange rate. As a general rule of the thumb, MasterCards and Visa Cards have similar transction fees while American Express Cards have the highest transaction fees.

Benefits for Using Credit Cards Overseas

Despite the transaction fees, banks often tangle attractive cashbacks for using credit cards abroad. These cashbacks can sometimes more than offset the transaction fees involved. To make things easier for comparison, the table below will summarise the rate of cash rebate for using various cashback credit cards abroad as well as the minimum requirements needed to qualify for the cashback.

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Credit Cards Cash Rebate for Overseas Spending Comparison Table

Credit Card Issuer and Type of Credit Card Minimum Requirements / Conditions Rate for Cash Rebate

CIMB Platinum MasterCard

Minimum spend of $500 with at least 8 transactions of min $30 each in a month

Earn 10% rebates on travel expenses only

Maybank Family & Friends Card

Minimum spend of $1000 or $500 in a month

Earn 8% or 5% cash rebate at leading petrol stations and hypermart in Malaysia only

BOC Family Card

Minimum spend of $500 in a month

Earn 7% cashback on overseas dining only

UOB Visa Signature Card

Minimum spend of $1,000 per statement period

Earn 5% cash rebate or 10X UNI$ per $1 overseas spend

Citibank M1 Platinum Visa Card

Minimum spend of $3,000 in a month

Earn 5% Citi Rebate on overseas spend

POSB Everyday Card

Minimum spend of $1,000 in a month

Earn 5% cash rebate on overseas spend

UOB One Card

Minimum monthly spend of $2000 for all 3 months in a quarter

Earn 5% cash rebates on all transactions

American Express True Cashback Card

Maximum spend of $5,000 for first 6 months

Earn 3% cashback on any purchase

Standard Chartered MANHATTAN World MasterCard

Minimum spend of $3,000 in a month

Earn 3% cash rebate on all spending

DBS Live Fresh Card

DBS Black Cards

DBS Woman's Cards

Minimum spend of $1,000 / $3000 in a month

Earn $20 / $80 cashback on overseas spending

CIMB Visa Infinite Card

Minimum spend of $2,000 per statement period

Earn 2% cash rebate on overseas spending

 

Best Cashback Credit Card for Overseas Spending

The UOB Visa Signature Card gets our vote for the best credit card for overseas travel. The main reasons are due to the card having a low minimum requirement of S$1,000 overseas spend to qualify for the high 5% cash rebate which will more than offset any overseas card usage transaction fees. Lets also not forget that the 10X UNI$ is also equivalent to 4 air miles per $1 overseas spend, which helps the card to a double accolade of also being the best mileage Credit Card for Overseas Spending..

 

Comments on Best Credit Card for Overseas Spending Comparison

 

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Featured Cards

UOB Prvi Miles Card

UOB PRVI Miles Platinum American Express Card Earn 1.4 miles for local spend and 2.4 miles for overseas spend. Apply and receive $50 cash credit.

ANZ Travel Visa Signature Card

ANZ Travel Visa Signature Card Earn 2.4 miles for spend in Australia and New Zealand and 1.4 miles everywhere else. Apply to receive up to 10,800 miles + 28" luggage bag.



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