m&s travel money fees

Marks & Spencer Travel Money

Find out more about marks & spencer's travel money options with our useful guide..

In this guide

• What services does Marks & Spencer offer?
• What currencies can I order through Marks & Spencer?
• How much can I transfer with Marks & Spencer?

How soon can I get my money?

How safe is my money, are there any fees i might have to pay.

• Customer service information for M&S

As well as socks, pants, and sandwiches Marks & Spencer also buy and sell travel money. If you need some cash you can visit your nearest M&S Bureau de Change – available in over 120 M&S stores across the UK.

• Wide range of foreign currencies
• SameDay Click & Collect
• Order between £150 and £2,500

What services does Marks & Spencer offer?

M&S offers two services:

• Buy in store. You’re able to visit your nearest store to get hold of some travel money. Head to the M&S website to find your nearest store!
• Home delivery. If you have an M&S Credit Card or Chargecard, you can order between £100 and £2,500 of foreign currency online or over the phone. And if you order your travel money before 1pm, M&S will deliver it to your home address the next working day.

M&S also offer a buy-back service, so you can sell your leftover travel money at the buy-back rate on the same day you return it.

What currencies can I order through Marks & Spencer?

Here’s a list of some of the main currencies that are available with M&S:

• Argentine Peso (ARS)
• Australian Dollar (AUD)
• Bahraini Dinar (BHD)
• Brazilian Real (BRL)
• Brunei Dollar (BND)
• Bulgarian Lev (BGN)
• Canadian Dollar (CAD)
• Chilean Peso (CLP)
• Chinese Yuan Renmibi (CNY)
• Croatian Kuna (HRK)
• Czech Koruna (CZK)
• Fiji Dollar (FJD)
• Hong Kong Dollar (HKD)
• Hungarian Forint (HUF)
• Iceland Krona (ISK)
• Indonesaian Rupiah (IDR)
• New Israeli Sheqel (ILS)
• Jamaican Dollar (JMD)
• Japanese Yen (JPY)
• Jordanian Dinar (JOD)
• Kenyan Shilling (KES)
• Kuwaiti Dinar (KWD)
• Malaysian Ringgit (MYR)
• Mauritius Rupee (MUR)
• Mexican Peso (MXN)
• New Zealand Dollar (NZD)
• Norwegian Krone (NOK)
• Omani Rial (OMR)
• Peruvian Nuevo Sol (PEN)
• Philippine Peso (PHP)
• Polish Zloty (PLN)
• Qatari Rial (QAR)
• Romanian Leu (RON)
• Russian Ruble (RUB)
• Saudi Riyal (SAR)
• Singapore Dollar (SGD)
• South African Rand (ZAR)
• South Korean Won (KRW)
• Swedish Krona (SEK)
• Swiss Franc (CHF)
• New Taiwan Dollar (TWD)
• Thai Baht (THB)
• Trinidad and Tobago Dollar (TTD)
• Turkish Lira (TRY)
• UAE Dirham (AED)
• US Dollar (USD)
• Vietnamese Dong (VND)
• Aland Islands (ALA)
• Andorra (AND)
• Argentina (ARG)
• Australia (AUS)
• Austria (AUT)
• Bahrain (BHR)
• Belgium (BEL)
• Brazil (BRA)
• Brunei (BRN)
• Bulgaria (BGR)
• Canada (CAN)
• Chile (CHL)
• China (CHN)
• Croatia (HRV)
• Cyprus (CYP)
• Czech Republic (CZE)
• Estonia (EST)
• Finland (FIN)
• France (FRA)
• French Guiana (GUF)
• French Southern Territories (ATF)
• Germany (DEU)
• Greece (GRC)
• Guadeloupe (GLP)
• Hong Kong (HKG)
• Hungary (HUN)
• Iceland (ISL)
• Indonesia (IDN)
• Ireland (IRL)
• Israel (ISR)
• Italy (ITA)
• Jamaica (JAM)
• Japan (JPN)
• Jordan (JOR)
• Kenya (KEN)
• Kuwait (KWT)
• Latvia (LVA)
• Lithuania (LTU)
• Luxembourg (LUX)
• Malaysia (MYS)
• Malta (MLT)
• Martinique (MTQ)
• Mauritius (MUS)
• Mayotte (MYT)
• Mexico (MEX)
• Monaco (MCO)
• Montenegro (MNE)
• Netherlands (NLD)
• New Zealand (NZL)
• Norway (NOR)
• Philippines (PHL)
• Poland (POL)
• Portugal (PRT)
• Qatar (QAT)
• Reunion (REU)
• Romania (ROU)
• Russia (RUS)
• Saint Barthelemy (BLM)
• Saint Martin (MAF)
• Saint Pierre And Miquelon (SPM)
• San Marino (SMR)
• Saudi Arabia (SAU)
• Singapore (SGP)
• Slovakia (SVK)
• Slovenia (SVN)
• South Africa (ZAF)
• South Korea (KOR)
• Spain (ESP)
• Sweden (SWE)
• Switzerland (CHE)
• Taiwan (TWN)
• Thailand (THA)
• Trinidad And Tobago (TTO)
• Turkey (TUR)
• United Arab Emirates (ARE)
• United States (USA)
• Vietnam (VNM)

How much can I transfer with Marks & Spencer?

Orders are subject to a minimum value of £150 and a maximum value of £2,500.

Once you have ordered your card it can take up to ten working days for you to receive it. However, providing there are no delays with Royal Mail, you will typically receive your card within five working days . FairFX do not have a fast track service and you cannot collect our cards from any collection points.

Unlike cash, if you lose it or it’s stolen, FairFX have you covered. (See FairFX’s terms and conditions for further details). You’re also covered against shocks on your statement when you get home. It’s all there, in real time, upfront.

There is a £5 post and packaging charge for orders with a total value of less than £500. Orders of £500 or more are delivered free.

Customer service information for M&S

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Charlie Barton was a publisher at Finder. He specialised in banking and investments products, including banking apps, current accounts, share-dealing platforms and stocks and shares ISAs. Charlie has a first-class degree from the London School of Economics, and in his spare time enjoys long walks on the beach. See full profile

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2 Responses

I want to buy $100 & 100 euros at handforth dean

Hi Dr. Russ,

Thank you for reaching out to Finder.

If you want to purchase currency. M&S offers two services:

Buy in store. You’re able to visit your nearest store to get hold of some travel money. Head to the M&S website to find your nearest store! Home delivery. If you have an M&S Credit Card or Chargecard, you can order between £100 and £2,500 of foreign currency online or over the phone. And if you order your travel money before 1pm, M&S will deliver it to your home address the next working day.

Hope this helps!

Cheers, Reggie

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Guide to travelling with cash

How much money can you take abroad.

If you’re travelling abroad from the UK with £10,000 cash or more, you’ll need to declare it with UK customs. You will need to declare €10,000 cash or more if you carry it between Northern Ireland and any non-EU country See footnote 1 1 .

Elsewhere, rules on carrying cash vary from country to country. For example, for countries in the EU, you’ll need to fill in a cash declaration form or declare money at an airport if you’re carrying €10,000 or more but this won’t apply to every European country See footnote 2 2 . Figures vary even more when travelling to countries on other continents with different currencies.

To avoid being issued a fine or having your money seized, it’s always best to check your destination’s local rules in advance.

How much cash can I bring into the UK?

If you’re bringing £10,000 cash or more into the UK, or €10,000 or more into Northern Ireland, you’ll need to declare it with customs See footnote 3 3 .

You’ll need to make a declaration if the total amount of cash your group or family is travelling with exceeds the £10,000 or €10,000 limit, even if individuals are carrying less than that.

You’ll have to give details about:

• who’s carrying the cash
• your journey
• how the cash was generated
• how the cash will be used

Declarations can be made 72 hours before you travel See footnote 4 4 .

Travelling with cash abroad

Follow these five tips to keep your cash safe when abroad:

• Split where you store your money – This is one of the best ways to make sure that if someone steals your cash, they don’t take all of it. Perhaps you could share your money between a group to lower the risk of losing it all from one theft.
• Only carry what you need – By splitting your money and only taking out what you need each day you can minimise the amount of cash you lose if a wallet or purse is misplaced or stolen.
• Consider a money belt – If you really want to keep your cash close, a money belt could be the answer. Wearable wallets are often slim enough to hide under clothing and some models stop would-be thieves from making contactless card payments if your debit and credit cards are stored inside.
• Store your cash securely – Taking time to set a combination and using a hotel or apartment safe can give you peace of mind that your money is stored securely.
• Exchange money with official vendors – It may be tempting to exchange currencies with street vendors offering competitive rates, but your money is always safest with a bureau exchange at a fixed address.

Buy foreign currency for your next holiday with M&S Travel Money .

Updated July 2023

Planning a holiday abroad?

Travelling to Europe or beyond? Check out our handy guide to help make your trip perfect.

Will you need euros?

Find out which countries use the euro and learn more about the currency.

Need some winter sun?

Planning a winter sunshine break? Use our handy guide to help with your holiday planning.

1. Correct at time of publication, see  gov.uk for up-to-date information

2. Correct at time of publication, see  European Commission for up-to-date information

3. Correct at time of publication, see  gov.uk for up-to-date information

4. Correct at time of publication, see  gov.uk for up-to-date information

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Marks & Spencer exchange rates

Today's latest M&S Bank travel money exchange rates, updated 3 minutes ago at 1:25pm

Marks and Spencer have 52 currencies in stock and ready to order now. Buy online and collect your order from one of over 450 M&S Bank Bureaux across the UK. Home delivery is not offered for travel money orders, but you can reserve your currency online and collect it from your nearest store on the same day if you order before 4pm. You must buy your currency online to guarantee these rates or you may be given a lower rate in-store.

Jump to section:

• View today's latest M&S Bank rates
• Compare M&S Bank's rates

Travel money order limits and fees

• M&S Bank reviews

M&S Bank travel money rates

These are the latest M&S Bank exchange rates available online right now.

Compare M&S Bank's exchange rates

We compare hundreds of exchange rates from dozens of currency suppliers across the UK. Select a currency below to see how M&S Bank's rates compare against other providers. Bear in mind that exchange rates aren't the only important factor when it comes to getting the best deal; commission, card surcharges and delivery costs can all affect the final amount of currency you'll receive. You can see the full range of currency deals on offer right now on our travel money comparisons .

M&S offer a collection service for travel money with no minimum or maximum order limits, and no commission. Home delivery is not available at this time.

Latest M&S Bank reviews

Our users have rated M&S Bank Average in 62 reviews. Read more on our M&S Bank reviews page.

Bought £500 of euros and was encouraged to pay using my m&s credit card in order to obtain the best rate all fine until my credit card statement arrived and me being charged £25 for a non sterling transaction...total rip off ...this was last year a [...]

Read the full review

Jim Ferguson

Very quick service. Nice pleasant lady called Helen in the Harrogate store. Good sense of humour and great customer service. An all round good experience.

Janet MacLeod

Disappointed in the rate given today at M&S, Inverness travel currency exchange. The rate given was 1.1428 when M&S are advertising a rate of 1.1624!!! They are even below the average rate which 1.1506. In future, I may go elsewhere after dealing [...]

The euro rate at Marks and Spencer right now is 1.162. You'll need to buy or reserve your euros online to guarantee this rate; the euro rate offered in your local branch may be lower if you don't order online beforehand.

Marks and Spencer's exchange rates tend to be slightly better than those offered by other high street supermarkets including Sainsbury's and Tesco , but make sure you order your currency online beforehand or you may be given a lower rate in-store.

Unlike it's rivals, M&S does not offer currency for home delivery which means you'll need to collect your order in person from a nearby M&S travel money bureau.

If you want the absolute best exchange rate on the market, better currency deals are still available from other suppliers, especially if you order online. Check out our travel money comparisons to find the best currency deals available right now.

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Holiday money - where to buy it, how to avoid fees, and one thing you must not do

Credit card, debit card or cash? We have spoken to experts to find out the best way to buy your holiday money this summer.

Live news reporter @bradley_jyoung

Monday 17 June 2024 07:53, UK

UK residents spend billions of pounds abroad each year, but it can be difficult to know how to make sterling go as far as possible.

With summer fast approaching, so too are the opportunities to splash out on holidays, so the Money team spoke with travel experts to find out when, where and how to pay abroad.

CREDIT CARD

"The cheapest way to spend overseas is often on plastic , if you've got the right plastic," said James Jones, head of consumer affairs at Experian.

"Using credit and debit cards can be a great way to get the very best exchange rates."

He said rates offered by currency exchange shops are usually "much less attractive" than those offered on some cards, which were much closer to the rates the banks use themselves.

Fees could wipe out any gains

But it's essential to be aware of things like non-sterling transaction fees, cash withdrawal fees and credit card interest.

So shop around for a card with travel rewards, Mr Jones said - and do this before your trip.

"You probably need to give yourself, ideally, six weeks."

Extra protection

When you book a trip between £100 and £30,000, try and pay for some of it on a credit card to get "extra protection" under section 75 of the Consumer Credit Act, said Mr Jones.

That means the card provider is jointly responsible with the retailer if something goes wrong, such as arriving at a hotel only to find it has closed down.

If you are using a credit card, make sure you are can pay it off in full to avoid interest charges, said Sean Tipton from the Association of British Travel Agents (ABTA).

One trap you must not falling into

An increasingly common trap when paying with card (credit or debit) is being presented with the option to pay in the local currency or in pounds, said Mr Jones and Mr Tipton.

While paying in sterling might "seem like a wonderful convenience" you will ultimately be paying "quite a bit more for the purchase", Mr Jones said.

If you pay in pounds, the local retailer's bank sets the exchange rate, but if you pay in the local currency, your UK bank sets the rate.

DEBIT CARDS

"Some service providers don't apply fees for overseas use on their regular UK debit cards," says Moneyfacts - but you must always check as some incur big fees.

Alternatively, "some service providers offer specialist travel debit cards that don't impose non-sterling transaction fees and cash withdrawal fees".

PREPAID TRAVEL CARDS

If you're looking to avoid a credit check, prepaid cards can be loaded with multiple currencies and work like a debit card, without being connected to your bank.

"Typically, prepaid travel cards will offer competitive or even no charges for foreign usage, which can make them a cheaper alternative to using a normal credit or debit card while on holiday," says MoneyFacts.

One of the most popular prepaid cards, Revolut, uses its own exchange rates, which might not always be the best you can find - and while it is fee free on weekdays, there are charges at weekends, so do your research.

Also be aware - prepaid cards do not offer purchase protection like a credit card and aren't regulated by the Financial Conduct Authority.

"Don't rely solely on a card - it can backfire on you if you do," said Mr Tipton.

Some taxis only take cash, leaving you to face hefty charges withdrawing from an ATM.

In some countries, like Argentina, it can be difficult to get money out of ATMs without a local bank account, Mr Tipton said.

Mr Jones added: "If you're in a very remote part of the world that actually doesn't have many ATMs and maybe where cash is king, then that might dictate what you need to do."

Where and when to get cash

"I'd strongly recommend [to] get some cash out in the UK," said Mr Tipton.

It can be difficult to find a bureau de change in some developing nations, and ATMs have "started introducing quite hefty charges" across the board, he said.

The exceptions are countries with really high inflation rates, where it may make more sense to get cash out when you arrive, he added.

When to exchange currency really depends on the destination, said Laura Plunkett, head of travel money at the Post Office.

"Exchange rates change frequently, so if you have time, do your homework and lock in a rate when it is good."

Read more: Wizz Air ranked worst airline for delays for third year running World's best restaurant named - this is how much it costs to eat there Think twice before buying your holiday clothes from Zara

What is a good exchange rate for Europe?

Some 80% of British holidays abroad take place in the Eurozone, said Mr Tipton.

The rate has remained "fairly stable", but if you see the pound increasing in value that may be the time to buy a larger amount of Euros for a couple of years in advance, he added.

Mr Tipton said 1.2 to the pound is a "pretty healthy" time to buy, but "it is a bit of a lottery".

Every year the pound gets stronger against the South African rand, and the same in Argentina, where the peso is "unbelievably weak", Mr Tipton suggested.

In store or online?

"Most online suppliers will insist on a minimum order value that might be too high for some people, and you'll have to make sure that you're home for when it's delivered," said Ms Plunkett.

"But typically, rates are better online if that's an option for you."

Related Topics

What Is the MSFX Charge on Your Bank Statement?

Have you ever checked your bank statement and come across an odd-looking “MSFX” charge? If this mysterious transaction fee has you scratching your head, you’re not alone. Many people find themselves puzzled when unfamiliar charges appear on bank statements.

This comprehensive guide will explain exactly what that MSFX charge means, why it happens, and what you can do about it. Read on to demystify this arcane bank statement fee once and for all.

Table of Contents

What Does MSFX Stand For?

Let’s start by decoding what MSFX actually stands for. The letters represent “Marks & Spencer Financial Exchange.” This indicates that the charge stems from using your debit or credit card for some kind of financial service through the well-known British retailer Marks & Spencer (often shortened to “M&S”).

Specifically, an MSFX charge most often occurs when purchasing foreign currency or travelers checks from an M&S store. The fee shows up on your monthly bank statement to let your bank identify the transaction coming from the Marks and Spencer Financial Exchange arm.

When Does This Charge Typically Appear?

You’ll generally see an MSFX charge under the following circumstances:

• After buying foreign currency banknotes or travelers checks from an M&S store
• Following overseas use of an M&S travel money card or prepaid currency card
• For other financial services like wire transfers conducted via an M&S location

For example, your bank statement might show “MSFX KINGSTON KINGSTON UPON” indicating you purchased foreign bills and coins from the Kingston Upon location. Or you may see “MSFX SWINDON SWINDON 0880 GB” meaning you obtained travel funds from the Swindon M&S with transaction code 0880.

Why Does This Fee Show Up on My Statement?

In addition to selling clothing and home goods, Marks & Spencer also offers certain financial products like currency exchange, prepaid travel money cards, and traveler’s checks.

When you take advantage of these services in-store, your bank and credit card statement won’t just show a standard M&S purchase. Instead, your bank adds the MSFX charge description specifically to identify transactions coming from the M&S financial exchange desk.

Without this notation, your bank statement would simply list the charge generically as “Mark & Spencer” making it harder to distinguish routine purchases from currency transactions. The MSFX tag ensures both you and your bank know the fee relates to utilizing M&S’ specialized financial offerings rather than mundane grocery or retail buys.

Is This Charge Legitimate?

The good news is this bewildering MSFX charge is completely valid and not a symptom of fraud or a scam. While confusing at first glance, it is actually just a routine charge for availing financial services through Marks & Spencer stores.

However, if the posted MSFX amount differs from what you actually spent, or if other transaction details appear incorrect, you should contact your bank promptly to dispute the charge. Make sure to review bank statements closely each month and watch out for both familiar as well as unfamiliar fees.

Wondering What Is the PNP BILL PAYMENT Charge on Your Bank Statement ? Then read this article.

How to Avoid Future MSFX Charges

If want to steer clear of further MSFX charges, simply stop using your debit or credit card for financial transactions at M&S. As helpful as their travel money exchange and prepaid currency cards may be, you can also obtain these services through your normal bank or other providers like Travelex.

That said, if you find M&S’ rates and financial offerings to be a good value, the MSFX charge itself is no cause for concern even if it looks baffling at first glance. Just be sure to periodically check account terms and conditions for other fees like interest charges , late payment fees or automatic payments that can also impact monthly statements.

What to Do If You See an MSFX Charge

If an unrecognized MSFX charge appears on your statement, first carefully review bank statements and account activity from the corresponding period. Does the amount match what you recall spending? Does the location listed align with where you made a financial transaction?

If anything seems amiss, promptly dispute the charge with your bank, especially if you suspect error or fraud. You’ll also want to contact the bank if legitimate fees were assessed improperly due to issues like duplicate charges or incorrect dates.

However, in most cases, that puzzling MSFX charge is simply a routine indicator of using M&S financial offerings with no cause for concern. Going forward, you can now rest easy knowing exactly what that formerly unknown MSFX bank charge meant and why it appeared.

The Takeaway: Demystifying MSFX

In review, that head-scratching MSFX charge on your monthly statement merely signals:

• You exchanged currency, purchased a prepaid travel card, or conducted other financial business at Marks & Spencer
• This transaction originated from the M&S financial services desk rather than a regular store purchase
• The charge is legitimate and not a sign of fraud as long as the amount aligns with your purchase

While confusing at first glance, MSFX charges are quite common and benign. Now that you know what they represent, you can avoid worry when they crop up on future bank statements!

Daniel , a seasoned professional with over 5 years of experience in banking, property, and finance, brings a wealth of expertise to the table. This authoritative blog is meticulously curated to provide you with the most up-to-date financial insights. Delving into the dynamic realms of banking and mortgages, Daniel’s passion for finances shines through every post.

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Using Your M&S Credit Card Abroad in 2024: Fees, Benefits, and Alternatives

Byron Mühlberg

Monito's Managing Editor, Byron has spent several years writing extensively about financial- and migration-related topics.

Links on this page, including products and brands featured on ‘Sponsored’ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.

Are you planning to use your M&S credit card on your next trip abroad? Well, get ready for a few potential headaches: many M&S customers have reported unexpectedly high fees on their statements after using their credit cards while travelling overseas.

Fortunately for you, there are a few alternatives to choose from if you prefer low-cost holiday spending. In this post, we walk you through the fees and exchange rates you'll meet when using your M&S credit card abroad and offer savvier alternatives to use instead. So, whether you're planning a weekend getaway, a business trip, or a dream vacation, read on to learn how to make the most of your card spending while abroad!

M&S's credit cards can be pricey to use abroad due to the high charges. Instead, we recommend Wise for non-GBP transactions or Starling Bank as the best complete bank alternative to M&S.

Key Facts: M&S Credit Cards Abroad

Using your m&s credit card abroad.

• 01. How to use your M&S credit card abroad scroll down
• 02. Fees for using your M&S credit card abroad scroll down
• 03. Best travel card alternatives scroll down
• 04. FAQ about using your M&S credit card abroad scroll down

Heading abroad soon? Don't forget to check the following list before you travel:

• 💳 Eager to dodge high FX fees? See our picks for the best travel cards in 2023.
• 🛂 Need a visa? Let iVisa take care of it for you.
• ✈ Looking for flights? Compare on Skyscanner !
• 💬 Want to learn the local language? Babbel and italki are two excellent apps to think about.
• 💻 Want a VPN? ExpressVPN is the market leader for anonymous and secure browsing.

It should go without saying that credit cards are versatile tools that you can use to handle all kinds of financial transactions while on holiday abroad. This is no different with M&S's range of credit cards, all of which enable you to:

• Pay at point-of-sale machines in foreign countries,
• Withdraw local cash banknotes from foreign ATMs,
• Book or handle deposits for car rental agencies, hotels, or flights.

In addition, some credit cards also let you take advantage of travel insurance, rewards, cashback, and other exclusive benefits while travelling abroad. It's always a good idea to check with M&S what benefits might apply to you before you travel so that you know what you can and cannot expect to take advantage of.

M&S Credit Card Fees Abroad

Although they're easy and convenient to use abroad, M&S credit cards come with some costs you should consider before travelling abroad. We've summarised them below (ignoring non-travel-related costs like annual fees, cash advance, and interest charges):

Verified: 3/3/2023

All told, these costs can lead to an unnecessarily pricey trip abroad. Let's break them down with a typical example:

Point of Sales Transactions

Suppose, for example, you're on holiday in Paris and decide to spend €100 on a boutique fashion item you like. You pay with your M&S credit card. The first thing that happens behind the scenes will be the conversion of your pounds into euros. Fortunately, this occurs at the MasterCard exchange rate (which is generally within a few points of a percent of the actual mid-market exchange rate) without M&S charging its own exchange rate on top of that. This means you won't pay much for exchanging currency, and you'd be paying 87.75 (at MasterCard's rate) instead of £87.91 (at the mid-market rate) on the final statement at the time of writing. Not a big deal, right?

However, it doesn't end there. Next, M&S will hit you with a 0.0299 foreign exchange fee. This fee is rather high and leaves the final cost on your bank statement at £90.70 (approximately 0.0317 higher than a fair exchange). This may not sound like a lot, but consider that you'll be hit with this fee every time you tap your credit card, so it all stacks up quite quickly.

Cash Withdrawals

The costs are even more profound when using your M&S credit card to withdraw cash. Sticking with our example, suppose you next wanted to withdraw €1,000 to get you through a few more days of Parisian spending. Here, you would again pay the MasterCard exchange rate plus the 0.0299 foreign exchange fee (this time amounting to £26.28). On top of this, you'd then pay an additional 0.0299 on the remaining amount (or £27.07 in this case).

After factoring in all these fees combined, the conversion on your bank statement would be a whopping £932.42 (that's 0.0622 or £54.62 higher than a fair exchange).

Better Alternatives

Fortunately, there are much more affordable ways to spend your pounds while travelling to Paris or anywhere else in the world. Below, we suggest two world-class UK-based alternatives for you to consider depending on your individual needs and preferences:

Wise: Best for Tapping Your Card Abroad

Wise's fee-free debit card is an excellent way to spend money while abroad from the UK because it allows you to pay in foreign currencies with no hidden fees and offers competitive exchange rates. It's almost always a far better deal than M&S for overseas spending, and you can use it next to your M&S current account whenever you leave the UK.

• Trust & Credibility 9.3
• Service & Quality 8.9
• Fees & Exchange Rates 7.6
• Customer Satisfaction 9.4
• Multi-currency balances: Yes (available in 56 currencies)
• Foreign exchange margin: 0%
• Foreign exchange fee: 0.2% - 1%
• ATM withdrawal fee: 0.0175
• Best for: Card payments in a foreign currency

Starling Bank: Best Complete Bank Alternative

Starling Bank is a first-class online bank whose debit MasterCard is an excellent way to spend money abroad because it offers no fees whatsoever on any foreign currency spending. It also provides an excellent current account which we've ranked as the best online bank in the UK .

• Trust & Credibility 9.4
• Service & Quality 8.5
• Fees & Exchange Rates 10
• Customer Satisfaction 9.0
• Multi-currency balances: No
• Foreign exchange: 0%
• ATM withdrawal fee: 0%
• Best for: A complete bank account alternative to M&S

FAQ About M&S Credit Card Abroad

Yes, you can most certainly use your M&S credit card abroad! Being cards issued by Visa or Mastercard and offered by one of the UK's largest banks. M&S credit cards are accepted worldwide, and you can use them to make purchases or withdraw cash from ATMs. However, you may be charged a fee for using your card abroad, so it's best to compare your options online before you decide to use your M&S credit card on your next holiday.

You can consider using a travel card to avoid fees when using your M&S credit card abroad. There are excellent options out there like Wise and Revolut , which charge incredibly competitive fees and exchange rates when travelling abroad, as well as multi-currency balances to help you dodge conversion fees altogether when tapping your card or withdrawing cash.

See Other UK Travel and Money Transfer Topics

Using Other Banks' Credit Cards Abroad

Wondering how other UK bank credit cards stack up against M&S's? Take a look at our list below:

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

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Free delivery when you spend £60 | Free returns for online orders | Free store collection

• How it works
• Other M&S Credit Card offers
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£25 M&S e-gift card just for you with the M&S Credit Card Shopping Plus Offer*

*Only new customers are eligible for this offer. £250 minimum spend across 5 or more qualifying purchases within the first 90 days. E-gift card will be received via email within 45 days of the qualifying spend. Offer ends 25th June 2024 . Credit is subject to status. M&S plc acts as a credit broker not a lender.

Credit is subject to status. M&S plc acts as a credit broker not a lender.

REPRESENTATIVE EXAMPLE

Purchase rate p.a. (variable)

Representative (variable)

Assumed credit limit

Representative example.

Lenders offer different rates and credit limits depending on people's personal circumstances, but when you first start searching for a credit card you'll typically see the representative example. It shows the rate that at least 51% of those accepted for the credit deal will get on any given product. However, that does mean that almost half the people who are approved for the deal may not be eligible for the advertised rate and will get a different rate – usually a higher one.

Representative APR (Variable)

APR stands for Annual Percentage Rate and it refers to the yearly cost of borrowing money. APR factors in how much interest you will have to pay. Variable APR means that the APR isn't fixed, and can change over time. So, the amount of interest you are charged each month will vary depended on the APR at that time. There are lots of reasons your APR might change, though it will usually be to stay in line with the Bank of England interest rate.

Purchase rate p.a. (Variable)

It is the annual interest rate on purchases. If you pay your credit card bill in full and on time, then you won't have to pay any interest on your purchases. It's only when you carry a balance over into a new month that you will have to pay interest.

For standard credit cards, representative APR is based on a credit limit of £1,200 – this is the same for all lenders. Representative APR assumes you spend the full £1,200 on the first day and then pay it back in equal, regular instalments over a year without spending anything else. The credit limit you will get depends on your specific account and unique credit score.

Our credit card benefits

Enjoy all these benefits with no annual fees.

Zero interest on shopping for 18 months

Remember to pay at least your minimum payment on time each month to keep the 0% rate we offer you., zero interest on balance transfers for 15 months, available for 90 days from account opening. 2.99% fee applies, minimum £5., earn m&s vouchers when you shop, collect rewards points and we will turn them into m&s vouchers for you..

Checking your eligibility will not affect your credit score.

HOW REWARDS POINTS WORK

Points for M&S shopping

Earn 1 Rewards Point per £1 spent in M&S (online and in store).

Points for spending outside M&S

Earn 1 Rewards Point per £5 spent outside M&S (e.g. petrol, shopping, traveling)

Calculate how much you'll get back each year to enjoy in M&S vouchers.

REWARDS CALCULATOR

Monthly spend at M&S

Online and in-store

Rewards Points: 0

Monthly spend elsewhere

(e.g. petrol, shopping, travelling)

Voucher amount

Total Rewards Points: 0

Stay in control with the M&S Banking App

• Access your account safely and securely
• See recent transactions and check your balance
• Make a payment to your M&S Credit Card using a debit card
• Get in touch via Chat with account specific queries

88% of M&S Bank customers in Finder.com’s customer satisfaction survey would recommend the brand to a friend.

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3 steps to your £25 M&S E-Gift Card

Looking to transfer a credit card balance?

Check out the transfer plus offer instead., 24.9% apr representative (variable), balance transfer fees apply., find out more.

• You are a UK resident, aged 18 or over, with a regular annual income.
• You have an annual income/ pension of at least £6,800.
• You have not been declined for an M&S Credit Card within the last 30 days.
• You are happy for us to undertake a credit register and credit scoring search.
• You have not held an M&S Credit Card within the previous 12 months.
• Residential address
• Employment history
• Income (please ensure this reflects any impact directly or indirectly, from Covid-19).
• Email address
• The account number and sort code of your bank or building society
• Your previous address, if you've lived at your current address for less than 3 years.
• Can be used to spend up to £500 at marksandspencer.com or in any M&S store (but you won't be able to use them anywhere else). If you're using them in store, you'll need a secondary form of ID and the email including your temporary card number
• Can be used for 5 days including the day you open your account
• Can't be used to purchase M&S gift cards

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Marks and Spencer plc, Waterside House, 35 North Wharf Road, London W2 1NW acts as a credit broker and not a lender. Authorised and regulated by the Financial Conduct Authority (Register no. 718711). Credit is provided subject to status by Marks & Spencer Financial Services plc to UK residents aged 18 or over.

*£25 M&S e-gift card offer: Card account must be opened and used for 5+ qualifying purchases totalling at least £250 in the first 90 days. E-gift cards will be received within 45 days of this spend. Qualifying purchases exclude foreign currency and other cash related payments, and M&S gift cards/vouchers. New customers only who haven’t held an M&S Credit Card within the last 12 months. Apply via an instore QR code or tablet or online via a banner/email promoting the offer. Not available in conjunction with any other offer. Offer ends 25th June 2024.

Credit card and full offer T&Cs apply and can be viewed here .

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Credit cards & loans, why you shouldn’t buy travel currency in the uk with your credit card.

If you’re heading abroad this summer, exchanging money in the UK ahead of your travels is a sensible idea. But for many travellers, it’s best to avoid paying the transaction with your credit card.

Currency experts say it’s wise to exchange your travel money in advance of your trip to get the best rates and to avoid the lure of poor-value airport options.

And given the battered state of the pound following the Brexit vote and the General Election, holidaymakers need help to stretch the value of their holiday cash.

If you plan to exchange currency in the UK, it’s best to avoid paying for the transaction by credit card, unless you have one that doesn’t charge a ‘cash advance fee’ or it’s provided by an issuer that also runs its own foreign exchange bureaux, such as M&S.

Credit card issuers largely charge a ‘cash advance fee’ when you withdraw money from an ATM. The same fee also applies to gambling and betting transactions, as well as buying foreign currency and travellers’ cheques.

The costs vary from one credit card issuer to another, and more importantly, the transaction also charges interest on the amount from day one. According to Andrew Hagger of Moneycomms, interest rates are typically at 27.9%.

Comparison of cash advance fees

Below is a comparison of cash advance fees charged by 10 mainstream credit card issuers when customers use their credit cards to buy foreign currency or travellers’ cheques in the UK:

• American Express: £3 or 3% fee (whichever is the greater). Travellers’ cheques can’t be bought on an American Express credit card.
• Barclaycard:  2.99% or minimum £2.99 fee.
• Halifax: The Halifax Clarity card doesn’t charge a cash advance fee but other Halifax credit cards charge 3%.
• Lloyds Bank: 3%.
• Nationwide: 5% (minimum £3).
• Sainsbury’s Bank: No cash advance fees or foreign exchange fees.
• Santander: The Santander Zero Credit Card doesn’t charge a cash advance fee. Other Santander credit cards charge 3% (minimum £3).
• Tesco Bank: No cash advance fee.
• Virgin Money: 5%, no minimum fee.

How much extra could it cost you?

If you buy £500 of currency or travellers’ cheques with a credit you may be charged interest from the day you make the transaction – typically at a rate of 27.9% which is much higher than purchases which tend to be around 18.9% or 19.9%, according to Hagger.

He explains: “The charge for £500 for one month costs approximately £11.63 plus the cash advance fee which could be as high as £25 – so more than £36 in total.

“The best options are to use a card such as Halifax Clarity where there is no charge for cash transactions abroad.

“The M&S Credit Card doesn’t charge a cash advance fee if you order your travel money from M&S and its website says cardholders also get a preferential exchange rate on currency purchased.”

He adds that taking cash out on a credit card should be seen as a last resort or emergency because of the charges.

“I would recommend taking some currency with you by ordering it before you go and if you need to draw any cash when you’re away, then a preloaded currency card or a debit card is a cheaper option.”

Find out more information on loans provided by MYJAR

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Why You’ll Pay More and Behave Better When You Travel This Summer

From Barcelona to Bali, higher fees and new rules are targeting overtourism and unruly behavior. Some locals are worried the changes will keep tourists away.

By Paige McClanahan

A new tourist fee in Bali. Higher hotel taxes in Amsterdam and Paris. Stricter rules on public drinking in Milan and Majorca. Ahead of the summer travel season, leaders in many tourist spots have adopted measures to tame the tourist crowds — or at least earn more revenue from them.

All of this may pose headaches for travelers, although in most cases, the new fees or tax increases represent only a tiny fraction of the total cost of a trip. The goal is to ensure that tourism functions smoothly for visitors and locals alike, said Megan Epler Wood, managing director of the Sustainable Tourism Asset Management Program at Cornell University.

“All tourism is dependent on beautiful natural and cultural resources. You have to protect those resources in order to be a viable tourism destination — and if you don’t, they degrade,” Ms. Epler Wood said.

In some places, proposals for new fees or visitor rules have drawn opposition from residents, who fear they might scare away the tourists who bolster the local economy. But destinations need to find ways to counteract what Ms. Epler Wood calls “ the invisible burden ” of tourism, which includes strains on a community’s infrastructure, utilities and housing stock, as well as tourists’ carbon footprint and any challenges they might impose on residents’ daily lives.

“You put so much pressure on the place that the people who live there become unhappy, and then they don’t present a very good face to tourists,” Ms. Epler Wood said. “The longer you wait, the higher the cost to fix it.”

Here is a look at new measures that travelers can expect this summer, and where others might be coming in the future.

New visitor fees

Since February, visitors to the Indonesian island of Bali have been asked to pay a levy of 150,000 Indonesian rupiahs, or about $9.40 per visit. Revenue will be used to support the preservation of cultural and natural assets on the island, where tourism has brought major challenges related to litter, water supply and overcrowding. Visitors are encouraged to pay the new fee online before departure, although it’s also possible to pay on arrival at the airport.

Beginning Aug. 1, most foreign travelers to the Galápagos Islands — which had a record-breaking 330,000 visitors last year — must pay a $200 entry fee, double the current rate. The money raised will be used to support conservation, improve infrastructure and fund community programs.

The change is the first increase to the entry fee since it was introduced in 1998, said Tom O’Hara, communications manager for the Galápagos Conservation Trust . Mr. O’Hara noted that the increase comes a year after the UNESCO World Heritage Committee urged the government of Ecuador to work toward a “zero-growth model” for tourism in the Galápagos.

“It’s quite a complicated topic,” Mr. O’Hara said, noting that the fee increase has been viewed “as part of the solution to overtourism.” On the other hand, he added, “everyone is trying to reassure the local tourist industry that this isn’t going to kill tourism on the islands.

In April, Venice began imposing a fee — 5 euros, about $5.40 — on day-trippers visiting on peak days, with the goal of striking “a new balance between the tourists and residents.”

But the new Venice Access Fee has drawn criticism from residents. “This project is a disaster for us. We are a city, not a park,” said Matteo Secchi, the president of Venessia.com, an association of Venice residents. Mr. Secchi said that a communications campaign would have been more effective.

The possibility of a new tourist fee has also drawn local opposition in Hawaii, where Gov. Josh Green has proposed a “climate impact fee” for visitors to the state. The measure failed during a recent meeting of the State Legislature, but Governor Green has persisted in calling for visitors to help fund the state’s preparation for future climate shocks.

“We have to get this tiger by the tail,” he told journalists in May, adding that $25 per visitor could raise $250 million a year, which the state could use to guard against climate disasters, manage erosion, strengthen infrastructure and protect parks.

Hotel fees and other taxes get a bump

Hotel taxes, also known as occupancy or accommodation taxes, are widespread in the United States and Europe, where they were on the rise for a decade leading up to the pandemic. With tourism’s rebound to prepandemic levels, several destinations have increased or adjusted the tax to capture more revenue.

Like Hawaii, Greece — which also suffered severe wildfires last summer — is looking to steel itself against climate disasters, and the government wants tourists to help foot the bill. Greece is calling the charge a climate crisis resilience fee , and it will be collected by accommodation providers. The tax will be higher from March to October, when it will top out at €10 per night at five-star hotels. The rate drops from November to February, and for hotels with fewer stars. The fee replaces the previous hotel tax, which ranged from €0.50 to €4 per night.

In Amsterdam, the hotel tax, which was already one of the highest in Europe, rose to 12.5 percent from 7 percent on Jan. 1. City lawmakers have also raised the tax on cruise passengers to €14 from €11 per person per night.

The hotel tax in Barcelona also rose this year, increasing to €3.25 per night. The measure was the final step-up in a gradual increase that began before the pandemic. A spokesman for Barcelona City Hall said that further tax increases would be aimed at tourist rental apartments and cruises that make short stopovers, which contribute less to the city’s income. The spokesman also noted that revenue generated by the tourist tax is being used, among other things, to fund the installation of solar panels and air-conditioning in Barcelona’s public schools.

Ahead of this summer’s Olympic and Paralympic Games in Paris, lawmakers in the Île-de-France region have imposed a new tax, on top of the normal hotel levy. With the new tax, which will fund public transportation in the region, a guest in a five-star hotel now owes a total of €10.73 in tax per night stayed, while a stay in a two-star hotel incurs a tax of €3.25 per night.

Though the measure was adopted by the regional government, it was not supported by the leadership in Paris itself. A spokeswoman for Paris City Hall called the move “a democratic power grab” that “in no way benefits the city of Paris.” She noted that even with the funds generated by the new tax, the region still raised the price of tickets for public transportation in the city during the Olympics — a measure that has disgruntled many Paris residents.

Introducing new rules

In other tourist spots, the focus is on curbing behavior that pollutes the local environment or harms residents’ quality of life.

In Japan, authorities at Mount Fuji will cap visitors at 4,000 per day. They have also imposed a new fee of 2,000 yen (about $13) for access to the iconic summit. Elsewhere in the country, a community council in the Gion neighborhood of Kyoto has closed some small roads to tourists, after complaints that the area, home to the city’s geisha district, was suffering from crowds.

“We will ask tourists to refrain from entering narrow private streets in or after April,” Isokazu Ota, a leading member of the community council, told Agence-France Presse in March. “We don’t want to do this, but we’re desperate.”

A spokeswoman for the city’s tourism board described the road closures as “a local initiative,” adding that “neither Kyoto City nor the Kyoto City Tourism Association are aware of any details beyond what is reported in the media.”

Rowdy visitor behavior has been the target of new rules in Milan. In some areas, city leaders have banned outdoor seating after 12:30 a.m. during the week and 1:30 a.m. on the weekend in response to resident complaints. They have also limited the late-night sale of takeaway food and drinks.

And in certain areas on the Spanish Balearic Islands of Majorca and Ibiza that are overrun with drunk tourists, the government has imposed a ban on late-night sales of alcohol and the consumption of alcohol in the street. New restrictions have also been imposed on party boats in the same areas.

“Tourism has negative externalities that must be managed and minimized,” Marga Prohens, the president of the Balearic Islands, told a local gathering this month , according to The Majorca Daily Bulletin. Local tourism, she said, “cannot continue to grow in volume.”

Paige McClanahan, a regular contributor to the Travel section, is author of “The New Tourist: Waking Up to the Power and Perils of Travel,” forthcoming from Scribner on June 18.

Open Up Your World

Considering a trip, or just some armchair traveling here are some ideas..

52 Places:  Why do we travel? For food, culture, adventure, natural beauty? Our 2024 list has all those elements, and more .

Port Antonio, Jamaica:  The Grammy-nominated D.J. and music producer Diplo recommends spots in a city he loves  on Jamaica’s northeast coast. A dance party makes the cut.

New Mexico:  The Gila Wilderness, home to wolves, mountain lions and other wildlife, marks a century as a “land lab,”  where nature thrives as far as the eye can see.

Greece:  Is Serifos the perfect Greek island? A writer’s checklist included ferry service, great beaches and good local restaurants.

Brooklyn:  This 36-hour itinerary  skips the most touristy and overdeveloped areas, including Williamsburg and Dumbo, and requires no restaurant reservations or advance planning.

Costa Rica:  Travelers are signing up for phone-free tours to try to escape technology’s tether on daily life. But would it make for a better experience ?

The best credit card sign-up bonuses of June 2024

When choosing a credit card based on its sign-up bonus, consider the bonus value, spending requirements, annual fee, and ongoing rewards structure to ensure the card aligns with your spending habits and financial goals.

Javier Ortega-Araiza

Javier Ortega-Araiza is a writer, storyteller, serial entrepreneur and investor. He co-founded a seven figures company in the educational travel sector, connecting students and professionals in finance and tech ecosystems like Silicon Valley, London, and New York. He also has experience in equity research and in the family office sector.

Hanna Horvath

Hanna Horvath is a CERTIFIED FINANCIAL PLANNER™ and Bankrate's senior editor of content partnerships.

Updated June 18, 2024, 5:15 PM EDT

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Advertiser disclosure: Content provided by Bankrate.com. Fox and its content partners earn compensation from the affiliate companies below. This content doesn’t include all available offers, and compensation may impact how and where links appear in the content.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Want to earn hundreds of dollars in rewards just for signing up for a new credit card? You’re in luck — 2024 has some of the most lucrative credit card sign-up bonuses. These sign-up bonuses can significantly boost your rewards balance, allowing you to unlock valuable perks like free travel, statement credits, and more.

Here are the best credit card bonuses for 2024, helping you maximize your rewards and get the most value from your everyday spending.

Best credit card sign-up bonuses

• Best for travel: Chase Sapphire Reserve® 

Best for beginner travelers: Chase Sapphire Preferred® Card

Best for flat-rate travel rewards: capital one venture rewards credit card, best for miles: capital one venture x rewards credit card, best for luxury perks: the platinum card® from american express, best for no annual fee: capital one quicksilver cash rewards credit card, best for cash back: chase freedom unlimited®, best for flat-rate cash back: wells fargo active cash® card, best for rotating categories: citi custom cash℠ card, best for dining: american express® gold card, best for groceries: blue cash preferred® from american express, best for dining and entertainment: capital one savorone cash rewards credit card, best for building credit: discover it® secured credit card, best for travel: chase sapphire reserve.

Welcome bonus: 60,000 points after spending $4,000 on purchases within the first three months

The Chase Sapphire Reserve is our top pick for travel due to its impressive sign-up bonus, flexible redemption options, and wide range of travel benefits. With this welcome bonus, you can easily offset the card's $550 annual fee and still have points left over for future travel.

• 10X points on hotel stays, car rentals, and Chase Dining purchases through Chase Travel℠, plus on Lyft purchases (through March 2025) (after earning your $300 travel credit)
• 5X points on air travel through Chase Travel℠ (after earning your $300 travel credit)
• 3X points on restaurant and general travel purchases (after earning your $300 travel credit)
• 1X points on all other purchases

Annual fee: $550 

One of the standout features of the Chase Sapphire Reserve is its 50% bonus when redeeming points for travel through the Chase Ultimate Rewards portal. 

This means your 60,000-point sign-up bonus is worth $900 in travel when redeemed this way. You can also transfer points to Chase's airline and hotel partners at a 1:1 ratio, potentially getting even more value for your points.

The Chase Sapphire Reserve also offers a host of valuable travel perks, including a $300 annual travel credit, Priority Pass lounge access, Global Entry or TSA PreCheck application fee credit, and comprehensive travel protections. These benefits can make your travels more comfortable and save you money.

• $300 annual travel credit
• Generous welcome bonus worth $900 when redeemed through Chase Travel
• Some of the best travel rewards in the market
• 10x total points on hotel stays and car rentals when you book through Chase Travel
• 5X total points on flights when purchased through Chase Travel
• 1:1 point transfer to travel loyalty programs
• 50% point boost when booking travel through Chase
• $550 annual fee
• Requires excellent credit
• Rewards are heavily travel-focused (a negative for those who prefer other types of rewards)
• High APR for carrying a balance

Welcome bonus: 60,000 bonus points after spending $4,000 on purchases within the first three months

The Chase Sapphire Preferred® Card is a popular travel rewards card with a substantial sign-up bonus, valuable travel perks, and a lower annual fee than premium travel cards.

This card is a great option for those just getting started with travel rewards. Its $95 annual fee is much more manageable than that of premium travel cards.

• 5X points on travel through Chase Travel℠
• 5X total points on Lyft rides (through March 2025) 
• 3X points on dining, online grocery purchases, and select streaming services
• 2X points on all other travel purchases

Annual fee: $95 

The Chase Sapphire Preferred® Card is an excellent choice for travelers who want a solid sign-up bonus and valuable travel perks without the high annual fee of premium travel cards. When you redeem your points for travel through the Chase portal, you'll get a 25% bonus, making your points even more valuable.

The Sapphire Preferred offers valuable travel protections, including trip cancellation/interruption insurance, primary rental car insurance, and baggage delay insurance. It also has no foreign transaction fees, making it a great card for traveling abroad.

• Generous sign-up bonus
• 25% more value when redeeming points for travel through Chase
• Valuable travel protections
• $95 annual fee
• No luxury travel perks like lounge access
• Relatively high APR for carrying a balance

Welcome bonus: Earn 75,000 miles after spending $4,000 on purchases within three months of account opening, equal to $750 in travel

The Capital One Venture Rewards Credit Card is a great choice for those who want a simple, straightforward travel rewards card. Its welcome bonus is relatively easy to earn, allowing you to quickly earn enough miles for a significant travel redemption.

• 5X miles per dollar on hotels and rental cars booked through Capital One Travel
• 2X miles per dollar on all other purchases

Annual fee: $95

What makes the Venture Rewards Card stand out is its earning structure—you'll earn 2X miles per dollar on every daily purchase. This makes it easy to rack up rewards without keeping track of bonus categories. 

When redeeming your miles is time, you can use them to book travel through Capital One Travel or transfer them to airline and hotel partners. The Capital One Venture Rewards Card also offers a few key benefits for travelers, including up to $100 credit for Global Entry or TSA PreCheck application fees and no foreign transaction fees.

• Simple, straightforward reward structure
• Flexible redemption options
• No bonus categories for higher earnings

Welcome bonus: 75,000 bonus miles after spending $4,000 on purchases in the first three months from account opening

The Capital One Venture X Rewards Credit Card is a premium travel card with a substantial sign-up bonus, unlimited 2x miles on every purchase, and a range of luxury travel perks.

• 10X miles on hotels and rental cars booked through Capital One Travel
• 5X miles on flights booked through Capital One Travel
• 2X miles on all other purchases

Annual fee: $395

In terms of benefits, the Venture X Rewards really shines. Cardholders get up to $300 annual travel credit for bookings made through Capital One Travel, 10,000 bonus miles every account anniversary, unlimited access to Capital One Lounges and Priority Pass lounges, up to $100 credit for Global Entry or TSA PreCheck, and complimentary Hertz President's Circle status.

While the Venture X Rewards does have a $395 annual fee, the card's benefits can easily outweigh this cost for frequent travelers.

The Venture X Rewards is best suited for frequent travelers who can take advantage of the card's travel benefits and high rewards rate on travel bookings through Capital One Travel.

• Luxury travel perks like lounge access
• High annual fee
• Limited bonus categories for earning miles

Welcome bonus: 80,000 points after $8,000 on eligible purchases within the first six months of card membership

If you're looking for a card that offers unparalleled luxury travel perks, the Platinum Card from American Express is hard to beat. While its welcome bonus is certainly enticing, it's the card's extensive benefits that really set it apart.

• 5X points on flights booked directly with airlines or with American Express Travel (up to $500,000 per calendar year)
• 5X points on prepaid hotels booked with American Express Travel
• 1x points on all other purchases

Annual fee: $695. See rates and fees. 

With this card, you'll get access to the American Express Global Lounge Collection, which includes Centurion Lounges, Priority Pass lounges, and Delta Sky Clubs (when flying Delta). 

You'll also receive up to $200 annual airline fee statement credit, up to $200 annual Uber Cash, up to $100 annual Saks Fifth Avenue credit, and complimentary elite status with Hilton Honors and Marriott Bonvoy.

You can use points to book travel through Amex, transfer points to airline and hotel partners, or use Pay with Points to cover charges on your card. Remember that while the Platinum Card offers some impressive perks, it also comes with a hefty $695 annual fee. See rates and fees. 

• Generous welcome bonus
• Extensive luxury travel perks
• Exclusive access to events and experiences
• Limited bonus categories for earning points

Welcome bonus: $200 cash bonus after you spend $500 on purchases within three months from account opening

If you're looking for a solid rewards card with no annual fee, the Capital One Quicksilver Cash Rewards Credit Card is a top contender. It offers a $200 cash bonus after spending $500 in the first three months – a relatively low spending threshold compared to many other cards.

• 5% cash back on hotels and rental cars booked through Capital One Travel
• 1.5% cash back on every purchase, every day

Annual fee: $0 

The Quicksilver Cash Rewards earns an unlimited 1.5% cash back on every purchase, making it a great option for those who want a simple rewards structure. You can redeem your cash back in any amount, either as a statement credit or check.

The card offers a solid 0% introductory APR for 15 months on purchases and balance transfers, then 19.99% - 29.99% variable APR. It also has travel accident insurance, extended warranty protection on eligible purchases, and no foreign transaction fees.

• Low spending threshold for welcome offer
• Solid introductory APR on both purchases and balance transfers
• 5% cash back on hotel stays and car rentals booked through Capital One Travel
• Unlimited 1.5% cash back on every purchase
• No annual fee
• No foreign transaction fees
• Only accessible for those with good or excellent credit
• No elevated categories
• Limited rewards redemption options compared to other cards

Welcome bonus: Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back 

Do you love cash back rewards? Chase Freedom Unlimited® offers unlimited 1.5% cash back on all purchases and even more in certain categories. 

• 5% cash back on Lyft purchases (through March 2025)
• 5% cash back on travel booked through Chase Travel
• 3% cash back on dining at restaurants 
• 3% cash back on drugstore purchases
• 1.5% cash back on all other purchases

The card is one of best cash back cards on the market and a great option for everyday spending. The Freedom Unlimited also offers an intro APR on purchases, making it a solid choice if you need to make a large purchase and pay it off over time.

The Chase Freedom Unlimited® is a great choice for those who want a simple, rewarding cash back card with no annual fee and a solid welcome bonus.

• Low spending requirement for welcome offer
• 5% cash back on travel purchased through Chase Travel
• 3% cash back on dining at restaurants (including takeout and eligible delivery services) and on drugstore purchases
• Foreign transaction fee
• No travel perks
• Limited redemption options compared to more premium cards

Welcome bonus: $200 cash rewards bonus after spending $500 on purchases in the first three months from account opening

The Wells Fargo Active Cash® Card is an excellent choice for those who want a simple cash back card with no annual fee and a solid welcome bonus.

• Unlimited 2% cash rewards on purchases

One of the standout features of the Active Cash Card is its simplicity. You don't have to worry about activating bonus categories or keeping track of different earning rates. With this card, you'll earn 2% cash rewards on every purchase, every day. 

You can redeem cash rewards as a statement credit, through a Wells Fargo ATM, or a direct deposit into a Wells Fargo savings or checking account.

The Active Cash Card also offers benefits like cell phone protection and Visa Signature Concierge service. It has no annual fee, making it a great option for those who want to earn strong cash rewards without paying for the privilege.

• No bonus categories for higher earning potential
• Foreign transaction fees
• Relatively high APR after the intro period

Welcome bonus: 20,000 ThankYou Points (worth $200 in cash back) after spending $1,500 on purchases in the first six months. 

The Citi Custom Cash Card offers a unique take on bonus categories. It automatically adapts to your spending habits, earning 5% cash back on your top eligible spend category each billing cycle (up to $500 spent, then 1%). This makes it a great choice for those whose spending varies from month to month.

• 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent (then 1%) 
• 1% cash back on all other purchases
• 4% on hotels, car rentals, and attractions booked on Citi Travel℠ portal through June 2025

Eligible 5% categories include restaurants, gas stations, grocery stores, select travel and transit, and drugstores. 

The Custom Cash also has a solid intro APR on purchases and balance transfers, making it a good option for financing a large purchase or transferring high-interest debt.

The Custom Cash Card doesn't offer a ton of extra benefits. Still, it does have a few notable perks, including Citi Entertainment (which provides special access to tickets and experiences) and no annual fee.

• Automatically adapts to your spending habits
• 5% cash back is limited to the first $500 spent per billing cycle
• No bonus rewards on purchases outside of your top category

Welcome bonus: 60,000 points after spending $6,000 in purchases within the first six months of card membership

The American Express® Gold Card is a top choice for foodies and travelers. It offers 4X points on dining and supermarket purchases, a solid welcome bonus, and various dining and travel benefits.

• 4X points at restaurants (including takeout and delivery in the U.S.) 
• 4X points U.S. supermarket purchases (up to $25,000 per year, then 1X)
• 3X points on flights booked directly with airlines or via American Express Travel 

Annual fee: $250. See rates and fees. 

American Express offers various redemption options for points. You can book travel directly through Amex Travel, transfer points to airline and hotel partners, or redeem gift cards, merchandise, or statement credits (though these options typically provide less value per point).

The Amex Gold Card also offers several dining-related perks, including up to $120 annual dining credit at select restaurants and food delivery services, including Grubhub, Seamless, The Cheesecake Factory, and more. Additionally, you'll get up to $120 annual Uber Cash for Uber Eats and Uber rides in the U.S. 

• 4x points on dining and groceries
• Annual dining and Uber credits
• $250 annual fee. See rates and fees
• Limited redemption options compared to some other cards

Welcome bonus: $250 statement credit after spending $3,000 in purchases within the first six months

The Blue Cash Preferred from American Express is hard to beat if you spend a lot on groceries. Even though it has a higher spending threshold than other cash back cards, it’s still a solid offer. Where the Blue Cash Preferred shines, though, is in its ongoing rewards structure. 

• 6% on up to $6,000 per year in purchases at U.S. supermarkets (then 1%) 
• 6% on select U.S. streaming subscriptions
• 3% on transit purchases, including taxis, ridesharing services, parking, trains, buses, and more
• 3% on purchases at U.S. gas stations
• 1% on all other purchases

Annual fee: $0 intro fee for the first year, then $95. See rates and fees. 

The Blue Cash Preferred has a $95 annual fee after the first year, but for many people, the high rewards rates will more than compensate for this cost. See rates and fees. The card also offers additional perks, such as secondary car rental loss, an annual entertainment credit, and more. 

• High cash back rates on groceries and streaming services
• Disney Bundle and Equinox+ credits
• Solid intro APR offer on both purchases and balance transfers
• Annual fee after first year
• Elevated cash back on groceries is capped
• Higher spending threshold than average for welcome bonus

Welcome bonus: $200 cash bonus after you spend $500 on purchases within the first three months from account opening

The Capital One SavorOne Cash Rewards Credit Card is a great choice for those who spend a lot on dining and entertainment. It offers a solid welcome bonus with a relatively low spending requirement.

• 10% cash back on purchases made through Uber and Uber Eats (through November 14, 2024) 
• 8% cash back on Capital One Entertainment purchases
• 5% cash back on hotels and rental cars booked using Capital One Travel
• Unlimited 3% cash back on dining, entertainment, popular streaming subscriptions, and grocery store purchases (excluding superstores like Walmart and Target)

The SavorOne Cash Rewards earns unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery stores. It also earns 1% cash back on all other purchases, making it a great card for everyday spending.

This card also offers no foreign transaction fees, extended warranty protection, and access to premium experiences and events through Capital One Entertainment. The card also boasts a 0% introductory APR on purchases and balance transfers for 15 months, then 19.99% - 29.99% variable APR. 

The SavorOne Cash Rewards card has no annual fee, making it a great option for those who want to earn solid cash back without paying for the privilege.

• Low spending threshold for welcome bonus
• Solid introductory APR on purchases and balance transfers
• 5% cash back on hotel stays and rental cars booked through Capital One Travel
• Unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery stores
• Excellent credit required
• Might not be attractive for those who prioritize travel rewards

Welcome bonus: Discover will match all the cash back you’ve earned at the end of your first year

The Discover it Secured Credit Card is one of the best options for those looking to build or rebuild credit. It's one of the few secured credit cards that offer a rewards program, even if you are at the starting point of your credit-building journey. 

• 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter, then 1%) plus 1% back on all other purchases
• 1% back on all other purchases

The Discover it Secured card offers a unique sign-up bonus. At the end of your first year, Discover will automatically match all the cash back you've earned. So if you earn $200 in cash back in your first year, Discover will give you an additional $200.

To get the Discover it Secured card, you must put down a refundable security deposit. This deposit will also serve as your credit limit. The card has no annual fee and will automatically review your account after eight months to see if you can transition to an unsecured line of credit and get your deposit back.

• Opportunity to graduate to an unsecured card
• Unlimited cash back match at the end of first year
• Offers cash back rewards, rare for a secured card
• High cash back tier is capped at $1,000 per quarter
• No introductory 0% APR on purchases or balance transfers
• Requires a security deposit

Comparing the best credit card welcome bonuses

How do credit card sign-up bonuses work .

Credit card sign-up bonuses, or welcome offers, are incentives card issuers provide to encourage new customers to apply for their credit cards. You can earn a bonus by meeting a minimum spending requirement within a specified timeframe after opening the account.

For example, a card may offer a sign-up bonus of 60,000 points after spending $4,000 on purchases in the first three months from account opening. Once you've met the spending requirement, the bonus rewards are usually credited to your account within a few weeks. Depending on the card and the issuer, these rewards can come in the form of points, miles, or cash back.

Tips to maximize your credit card bonus

To make the most of your credit card sign-up bonus, consider the following tips:

• Plan your application timing: Apply for a new card when you have upcoming large purchases or expenses that can help you meet the minimum spending requirement without overspending.
• Use your card for everyday spending: Put as much of your regular spending as possible on your new card to work towards the bonus. But be sure to pay your balance in full each month to avoid interest charges.
• Add authorized users: Some cards offer bonus rewards for adding an authorized user and purchasing within a specified timeframe. Just be sure to trust the person you're adding, as you'll be responsible for their charges.
• Make the most of bill payments: If you have upcoming bills that accept credit cards without a fee, use your new card to help meet the spending requirement.
• Keep track of your progress: Monitor your spending closely to ensure you're on track to meet the bonus requirements within the specified timeframe.

Remember, the key is to meet the minimum spending requirement without purchasing items you wouldn't normally buy. Avoid overspending just to earn the bonus, as the interest charges and potential debt can quickly outweigh the value of the rewards.

Frequently asked questions about credit card sign-up bonuses

How long does it take to receive my sign-up bonus.

 In most cases, your bonus rewards will be credited to your account within a few weeks of meeting the minimum spending requirement. However, some cards may take up to 8-12 weeks, so be sure to check your card's specific terms and conditions.

Can I earn a sign-up bonus more than once?

Most card issuers restrict how often you can earn a sign-up bonus. For example, Chase typically allows you to earn a bonus on a specific card once every 24-48 months, while American Express has a once-per-lifetime policy on welcome offers.

What happens if I don't meet the minimum spending requirement?

You won't receive the sign-up bonus if you don't meet the minimum spending requirement within the specified timeframe. Track your spending closely and give yourself enough time to meet the requirements.

Do balance transfers and cash advances count toward the minimum spending requirement?

Balance transfers and cash advances do not count toward the minimum spending requirement for earning a sign-up bonus. Only eligible purchases typically qualify, so check your card's terms for specific details.

The bottom line

Credit card sign-up bonuses can significantly boost your rewards-earning potential, allowing you to unlock valuable perks like free travel, statement credits, and more. The best credit cards offer a range of benefits to suit different spending habits and financial goals, from premium travel perks to simple cash back rewards.

When choosing a card based on its sign-up bonus, consider factors like the bonus value, spending requirements, annual fee, and ongoing rewards structure. By selecting a card that aligns with your needs, you can maximize your rewards and get the most value from your everyday spending.

Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.

Wells Fargo rolled out a new credit card you can use to pay rent. Is it a money-loser?

A new Wells Fargo credit card program with a novel feature – you can use it to pay your rent – may not be working out quite as the bank had hoped.

Wells Fargo is losing as much as $10 million a month on the new card, the Wall Street Journal reports .

Launched in 2022, the card is a partnership between Wells Fargo and Bilt Technologies , a financial startup.

The partners wooed customers with an unusual feature: Cardholders could use the plastic to pay rent without triggering fees from landlords, all while earning reward points.

More than one million people activated the new card in the first 18 months, the Journal reports, many of them young renters.

Learn more: Best credit cards of 2023

Banks make money on credit cards from customers who carry balances from one month to the next, racking up interest charges, often at steep rates.

Report: Wells Fargo overestimated interest earnings on new card

According to the Journal, Wells Fargo may have overestimated how many cardholders would carry balances on the new card, and the expected profits never arrived.

In response to the report, Wells Fargo spoke optimistically about the initiative and noted that it can take time for a new credit card to make money.

"While still small, the Bilt card offers an innovative and unique rewards platform that has allowed us to reach new and younger customers," the bank said in a statement to USA TODAY. 

"As with all new card launches, it takes multiple years for the initial launch to pay off, and while we are in the early stages of our partnership, we look forward to continuing to work together to deliver a great value for our customers and make sure it’s a win for both Bilt and Wells Fargo."

Both partners see the venture as a long-term investment, bringing in new customers with good credit and years of banking ahead of them.

Of the new credit-card holders, 70% "are actually brand new customers to Wells Fargo, and their average age is 31, and their average FICO score is 760," all desirable metrics, said Sean Walsh, chief communications officer at Bilt Rewards.

Walsh added, "There's always a cost of acquisition when it comes to new customers."

Ankur Jain, CEO of Bilt, responded to the Journal report on X , writing that the business partners "are committed to making this a win-win together."

New credit card breaks new ground with renters

The new card broke new ground by working around the fees that typically come with credit-card purchases.

In the past, the Journal reports, few landlords would let a tenant pay rent with a credit card because of those fees, which can run between 2% to 3% of the transaction total.

The new card skirts those fees, at least on rental payments. Instead, Wells Fargo “eats” most of those costs, the Journal reports.

More: Do we really need $1M in retirement savings? Not even close, one top economist says

Wells Fargo launched the card partly with the hope of attracting younger renters, who might eventually become homeowners and might even take out mortgages from the bank, the Journal said.

The bank assumed more than half of all charges on the new cards would carry over from month to month, generating interest.

But the cardholders have proven savvy borrowers: At least 75% of charges are paid off before interest accrues.

Many customers pay their rent off within days of charging it on the card, averting interest while still earning reward points.

Are travel credit cards worth it?

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Key takeaways

• Card perks such as free hotel stays, companion travel passes and credits for programs such as Global Entry may make a travel card worth considering.
• Travel credit cards offer a variety of perks, but make sure to choose one that aligns with your spending so you can get top benefits from it.
• Make sure to pay off your balances so that you don't incur interest, and also that the benefit you get outweighs any annual fee you will pay.

For frequent travelers, it’s hard to avoid the allure of a great travel card. Since I got into points and miles a decade ago, the number of travel rewards cards seems to have quadrupled. And social media has only increased their appeal, with influencers flocking to sites like Instagram to show off their incredible travel experiences made possible by travel rewards cards.

Those magical pieces of plastic (or metal) can make your wildest travel dreams come true , so why wouldn’t you get as many of them as you can fit in your wallet?

For one, despite the hype surrounding travel cards, they’re not for everyone. Many travel rewards cards carry hefty annual fees and offer perks that, while impressive, might not be suitable for how you travel. They can also overlap with perks offered by your other cards, therefore eroding their value.

Here’s everything you need to decide whether travel rewards cards are worth it for you:

Most valuable travel card benefits

Travel credit cards often come with annual fees, but they offer valuable benefits that can make them worth it. These perks come in handy long after you spend the card’s sign-up bonus. Here’s a look at the most valuable travel card benefits.

Global Entry fee credit

Global Entry is a trusted traveler program that makes navigating passport control a breeze with a dedicated kiosk. Not only do you get to skip the long lines when returning from a trip abroad, but you also get TSA PreCheck . PreCheck provides access to a dedicated security lane that’s much faster and allows you to keep your shoes and a light jacket on.

The Global Entry application fee is reasonable at $100 for a membership that lasts five years. However, many travel cards provide Global Entry fee credits every 4-5 years to cover this fee. Here are a few examples:

• Capital One Venture Rewards Credit Card
• Chase Sapphire Reserve®
• The Platinum Card® from American Express
• United℠ Explorer Card *

Annual statement credits

Some travel cards carry hefty fees — think $695 and even higher. In return, you’ll get a slew of benefits to justify the annual fee, like annual travel statement credits. Some of these credits are valid for a wide range of travel purchases. Others are limited to specific airlines and hotels.

• Chase Sapphire Reserve® : $300 annual travel statement credit
• Amex Platinum Card : $200 annual airline fee credit, valid at a pre-selected airline
• Hilton Honors American Express Aspire Credit Card *: Up to $250 annual Hilton resort credit
• Marriott Bonvoy Brilliant® American Express® Card : Each card renewal year, get up to $300 in statement credits per calendar year (up to $25 per month) for eligible purchases at restaurants worldwide.

Annual free night awards

Some travel cards require spending to earn an annual free night award with hotels, but others issue them just for renewing your card.

• Hilton Aspire Card : Annual free weekend night
• Marriott Bonvoy Brilliant Card : Receive 1 Free Night Award every year after your card renewal month. Award can be used for one night (redemption level at or under 85,000 Marriott Bonvoy points) at hotels participating in Marriott Bonvoy®. Certain hotels have resort fees.
• The World of Hyatt Credit Card *: Annual free night valid at a Category 1-4 hotel

Companion passes

Many travel rewards cards earn you a companion pass for a travel buddy if you meet a certain spending threshhold. With the right card, you might even get one annually just for renewing your card.

• Southwest credit cards : Earn a Southwest Companion Pass after racking up 135,000 points in a calendar year. The welcome bonus and earnings from the Southwest cards count toward this requirement.
• AAdvantage® Aviator® Red World Elite Mastercard® *: Earn an annual companion certificate after spending $20,000 a year.
• British Airways Visa Signature® Card *: Earn a Travel Together Ticket after spending $30,000 in a year.

Elite status

Whether it’s through airlines or hotels, having elite status can make your travels much more comfortable (and save you a ton of cash). While elite status is usually reserved for frequent travelers, several hotel loyalty programs issue it outright to their co-branded cardholders. Some of these cards even let you earn additional status via credit card spending.

• Hilton Aspire Card : Top-tier Hilton Diamond Status
• IHG® Rewards Premier Credit Card *: Platinum status
• The World of Hyatt Credit Card : Discoverist status
• Amex Platinum Card : Hilton and Marriott Gold elite status

Types of consumers who benefit most from travel cards

Travel rewards cards are ideal for consumers who have good credit and pay off their balance every month. Travel cards tend to have higher interest rates than many other credit cards and the last thing you want is to pay more in interest than you earn with rewards.

If you’re not able to pay off your balance every month, you may benefit more from cards that offer 0 percent intro APR on new purchases or balance transfers. These will allow you to carry a balance without paying interest for a specified period.

Beyond this criteria, here’s a look at the types of consumers who benefit most from travel rewards cards:

Frequent travelers

Frequent travelers will benefit most from travel credit cards. That’s because they have more opportunities to maximize the travel perks and rewards .

Consider for example the co-branded Hilton Aspire Credit Card*. It carries a $450 annual fee but comes with an annual free weekend night award and top-tier Diamond status. A frequent Hilton traveler would have no problem justifying the annual fee. They would likely get significant value out of the free night, room upgrades and bonus points offered to Hilton Diamond members.

Those who don’t travel often may not have as many opportunities to redeem the free weekend night for maximum value. In fact, loyalty programs often count on this to stay profitable.

Aspirational travelers

If you’ve ever scrolled through an Instagram travel account and thought, “I want that — without the price tag,” then travel credit cards may be a good fit for you. Travel cards can pay off nicely for aspirational travelers who learn how best to utilize rewards.

The primary function of a travel credit card should be to get outsized value in return for your spending. Redeeming points for an aspirational vacation, first-class ticket or five-star hotel is a sure way to do just that.

Small-business owners

Small-business owners have a lot of expenses that can generate a significant stash of points with the right credit card. For example, the American Express® Business Gold Card earns 4X points on advertising and shipping (among other bonus categories). That can be quite lucrative if shipping and advertising are big spending categories for your business. The card has a $375 annual fee that might be hard to justify unless you have significant expenses in eligible categories.

But you don’t have to pay high annual fees to benefit from travel rewards cards. For example, The Blue Business® Plus Credit Card from American Express has no annual fee but still earns 2X Membership Rewards points on all spending (up to $50,000 per year, then 1x). A small business that maxes out the 2X bonus every year would earn 100,000 Membership Rewards points, worth about $2,000 in travel redemptions. Meanwhile, most cash back cards would generate about $1,000 in rewards for the same amount of spending.

Big spenders

Big spenders can benefit substantially from travel credit cards, especially ones that offer annual spending bonuses . Travel cards offer generous incentives for substantial spending. Rewards range from airline and hotel elite status to free hotel nights and even companion passes .

These perks can offer hundreds (or even thousands) of dollars in value every year. But juggling large amounts of spending across multiple travel cards can be challenging. You don’t want to sacrifice rewards value by accruing interest on a balance you can’t pay off or taking on a late payment fee. Setting up auto-pay and tracking spending can help you keep things organized.

Is a travel rewards card right for you?

A travel rewards card is probably right for you if you want to — you guessed it — use points for travel.

But ultimately, everyone’s spending habits and goals are different. While some consumers can benefit from travel cards, others might be better off with one of the best cash back cards .

Here are some of the factors you should consider when deciding if a travel card is worth it for you:

Have a travel goal in mind

Your travel goals are the most important factor in deciding whether a travel card is worth it. Are you looking to book aspirational travel or are you more of an RVer? Travel cards are ideal for luxury travel since they carry annual fees and sometimes have complicated reward programs.

Dedicating yourself to understanding award charts and how best to use them will help you determine whether earning rewards points instead of cash back is a good idea. Regardless of what you decide, make sure you have a redemption goal in mind before getting a new credit card. Programs can devalue without notice and you don’t want to end up with a bunch of miles that can’t get you where you want to go.

Consider your spending habits

Your spending habits are crucial to determining whether travel rewards cards are worth it. If you’re only putting a few hundred dollars a month on your rewards card, you’re probably better off with cash back. These cards generally don’t charge annual fees and offer 1 percent to 2 percent cash back on all purchases.

If you can take advantage of category bonuses and then put your points to good use, then a travel rewards card might be a good option. Just make sure the value of the points you’re earning is higher than the annual fee you’re paying, and you can pay your balances down each month.

Consider the recurring benefits

Confession: I don’t put as much spending as I could on my Hilton Aspire Card, so I’m losing out on rewards value. The card has a $450 annual fee and offers generous category bonuses that I’m not utilizing. However, I will keep it in my wallet for two reasons: Hilton Diamond status and the annual free weekend night award. Both perks provide me with exceptional value.

Recurring benefits are crucial when considering whether you should get a travel card. If recurring perks can save you money on travel, then go for it.

Consider cheaper alternatives

Just because a card is loaded with perks doesn’t mean it’s the best option out there. When shopping for a travel card, always consider cheaper alternatives. For example, a lot of cardholders love The Business Platinum Card® from American Express for its many travel benefits. But if you don’t use them, it’s a waste of a $695 annual fee. You might be better off with the no-annual-fee Amex Blue Business Card instead.

Always explore your options. The higher-fee card that everyone raves about may not be the best option for your spending.

The bottom line

Travel rewards cards are a fantastic option for people who can put their various benefits to use. If you’re earning enough points or using those free night awards consistently enough to justify the annual fee, then it’s worth paying. If these cards are collecting dust in your wallet or you find yourself going over budget to earn incentives, then they’re not worth having.

Since you’re paying an annual fee on most travel cards, you should be coming out ahead. Analyzing your credit card usage will allow you to answer that question honestly.

* The information about the United℠ Explorer Card, United℠ Explorer Card, The World of Hyatt Credit Card, the IHG® Rewards Premier Credit Card, AAdvantage® Aviator® Red World Elite Mastercard®, British Airways Visa Signature® Card,  has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuers.

The pros and cons of travel credit cards

Should I get a travel credit card that earns points, miles or both?

5 steps to choose the best travel card

Best Travel Credit Cards of 2024

Checked-bag fees are behind a lot of what’s wrong with air travel today

Inflation is receding, but we are still dealing with baggage left behind.

Anyone booking summer air travel will quickly get the picture. While air fares have come down some from peak levels, checked-bag fees are higher and carry-on luggage is now being targeted. Air travel today is a lesson in how inflation always seems to have the upper hand on consumers. If you’re not paying more, you’re getting less.

Checked bag fees were introduced about 10 years ago at around $25 for economy flights. Increases since then, including one earlier this year, have pushed the cost to between $35 and $75 or so, depending on what kind of ticket you buy, where you fly and when you pay. Check a second bag and these costs are even higher.

Baggage fees are a surcharge on air travel prices, which are currently under scrutiny as part of a federal Competition Bureau study of the airline industry . Carry-on bags are the preferred way to avoid checked bag fees, but they’ve become a problem. Between full flights and limited overhead bin space in some aircraft, boarding a plane has become a tense process of finding the bin space you need. Also, the process of boarding and exiting the plane takes longer when many passengers have a bag to load overhead.

The response at WestJet is the UltraBasic fare option for people who can get by without a carry-on bag that goes in an overhead bin. They’ll be allowed a small bag that fits under the seat in front of them, but that’s it. The expectation is that this new fare level will result in less carry-on luggage, but for now it’s attracting considerable mockery online.

The ultra low cost carrier Flair Airlines already has a policy of charging people extra to bring a carry-on bag that won’t fit under the seat in front. The fee is $29 to $59 if you pay online, $49 to $69 at check-in and up to $89 at the airport. You can check a bag on Flair, but it costs more than carry-on.

We’re not at the point yet where conventional airlines are charging for carry-on luggage like Flair, but the trajectory of airline pricing policies means it’s probably coming. Airlines see the mess caused by crowds of passengers bringing suitcases on planes, and there are revenue considerations as well. If there’s a significant economic slowdown or recession, then ticket prices may need to fall further to keep planes full. Introducing or increasing fees for travellers is one way to offset lower ticket prices.

Avoiding baggage fees is becoming more of a challenge, but it’s still doable. Several travel reward credit cards offer a free first checked bag benefit . Travelling light is another option, and there’s a lot of advice online about space-saving packing techniques. Finally, booking a more expensive ticket can get you a free checked bag. Other benefits might include more legroom and better terms for changing a flight or getting a refund.

Attention new parents: Have you applied for a mortgage while on parental leave? Did you find lenders would take into account only a portion of the regular employment of whichever parent was off with the baby?

If you’d be up for an interview about your experience, please reach out to Globe reporter Erica Alini at [email protected]

(Please note, qualifying for a mortgage is notoriously trickier for those who work on contract or are self-employed. For this story, we’re looking for people who took leave from a permanent job. We need to speak with individuals who are comfortable sharing their full name for the article.)

Subscribe to Carrick on Money

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Rob’s personal finance reading list

They ain’t heavy – they’re my groceries

Shrinkflation is commonplace now – we’re all used to paying the same for packaging that holds less food etc. Now, there’s a rise in complaints about products that weigh less than the amount shown on the packaging. Here’s how to complain if you find an example of a product that weighs less than it’s supposed to.

What are you paying for?

A smart take on investing fees from a veteran wealth manager. The analysis favours low-cost index tracking exchange traded funds over active management. But investors are also urged to consider the value of service and guidance provided by an adviser.

Theft is driving insurance costs higher for these vehicles

Six vehicles are singled out here for being a particular target of thieves and, as a result, subject to hefty increases in insurance premiums.

First date money questions

Financial compatibility seems more important in a relationship now than in the past. I guess this is why we have articles like this one, which offers four money-related conversation starters for a first date. My two cents is to perhaps wait until the second date.

Reader comment: “ I became an executor 24 hours ago and have a different perspective on executor fees . Let’s suppose I take a fee which amounts to $25,000. It is taxable so I net $12,500. But if I don’t take a fee. the estate is $24,625 larger after probate, and my share is about $8,200. I would rather give up $4,300 so other heirs can be $16,400 better off.

Rob’s comment: Let’s hear more after you’ve been an executor for 24 months.

Do you have a question or comment for me? Send it my way. Sorry I can’t answer every one personally. Questions and answers are edited for length and clarity.

Tools and guides

A ‘where can you afford to rent’ calculator.

In the social sphere

Social Media: Thoughts from an accountant on gifts and housing loans to adult children.

Watch: A list of the best Canadian personal finance YouTubers.

Money-Free Zone: Musician Buck Curran’s style has been described as psychedelic folk, which sounds great to me. But his latest album, One Evening and Other Folk Songs, is more wintery and austere than that. I think it works, notably on the song Deep In the Lovin’ Arms of My Babe .

More PF from The Globe

– The little guy scraping a down payment together is a fading presence in the housing market

– Homebuyer tactics: ‘The stink bid is back’

– House swaps offer a unique and more affordable way to travel

– Do you suffer from money dysmorphia ? Here’s why so many young people do

More Rob Carrick and money coverage

Subscribe to Stress Test on Apple podcasts or Spotify . For more money stories, follow me on Instagram and Twitter .

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