BEST Travel Card: I Tested and Ranked 9 Cards For Overseas Spending!!

Summary

In this video, the presenter shares insights from an experiment comparing nine different travel cards while in Malaysia. The cards are categorized into two groups: those without requirements for optimal exchange rates and those needing more effort to maximize rewards. Notable findings reveal the Trust Cashback Card and Instagram Amaze as top contenders for the best rates, while cards like Maybank Family and Friends offer substantial cash back. The analysis emphasizes the importance of carrying multiple cards for international transactions and staying updated on changing rates and offers.

Takeaways

• 💳 Various travel cards were tested for their exchange rates during a purchase in Malaysia.
• 📊 The exchange rates were compared using a consistent transaction at Daiso on the same day.
• 🔍 Cards without requirements were categorized separately from those with conditions like minimum spending.
• 🏆 The Trust Cashback Card provided the best overall transaction cost and additional cashback benefits.
• 📉 Big Pay performed poorly in its home country with a higher markup on the exchange rate.
• 💵 Revolut and Mari Credit Card had similar transaction costs, but fees impacted their effectiveness.
• 🆚 Utrip and Instagram Amaze provided competitive rates, making them strong contenders for overseas spending.
• 📉 The Maybank Family & Friends Card could yield significant cashback, assuming requirements are met.
• 🔧 Using multiple cards is recommended to navigate potential issues with foreign transactions.
• 📅 It's important to stay updated on exchange rates and card offers, as they can change frequently.

Q & A

What was the purpose of the travel card experiment?

The experiment aimed to compare the exchange rates and overall costs of nine different travel cards used for expenses while traveling in Malaysia.

How were the transactions conducted for the experiment?

All transactions were performed around the same time at a self-checkout counter in Daiso to ensure consistency.

What were the two groups of cards mentioned in the comparison?

The first group included cards with no requirements for minimum spend or rebates, while the second group had conditions like minimum spend or earning points.

Which card provided the best exchange rate and total transaction cost?

The Trust Cashback Card offered the best exchange rate of 1 SGD to 3.88 MYR, resulting in a total cost of $1.83 after cash back.

What were the features of the Instagram Amaze card?

Instagram Amaze provided a competitive exchange rate of 1 SGD to 3.22 MYR and offered instant points for transactions over $10, adding value for higher purchases.

What is the significance of cash withdrawal fees in this context?

Cash withdrawal fees can significantly affect the overall cost when using travel cards abroad, with some cards offering free withdrawals while others charge a percentage or flat fee.

What are the benefits of using Maybank Family & Friends card?

This card can provide up to 8% cash back if minimum spending requirements are met, potentially reducing costs significantly for eligible transactions.

Why is it recommended to carry multiple cards when traveling?

Carrying multiple cards ensures that travelers have backup options in case one card is rejected or encounters issues with foreign transactions.

What should users keep in mind regarding the accuracy of exchange rates?

Users should be aware that exchange rates can fluctuate and the rates discussed were accurate as of late September 2024, so checking for updates is advisable.

How do rewards and cashback features influence the choice of travel cards?

Rewards and cashback can significantly enhance the value proposition of a card, making it more economical, especially for frequent travelers who can meet the associated requirements.