Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 | 3 
282 posts

Ultimate Geek
+1 received by user: 8

Trusted

  # 667193 3-Aug-2012 19:09
Send private message

The Warehouse MasterCard is the cheapest I know @ 1% of overseas transactions and $35 card fee per year!

https://www.mywarehouseaccount.co.nz/detail.aspx?id=3#l7





843 posts

Ultimate Geek
+1 received by user: 72

Trusted

  # 667267 3-Aug-2012 22:26
Send private message

alvin: what about loaded for travel from kiwibank?  I haven't used this though and thinking of getting one
 

I will consider one of these next time

I just got back from Oz and just reviewed my costs etc from 11 days holiday

I spent AU$4193 on my NBNZ Thoroughbred Visa. The conversion fees came to a total of NZ$102 however this is off set by the 1% cash backs earned [NZ$42] so the next difference i.e. cost to me was $NZ60

If I had used a Kiwibank loaded for travel card i.e. loaded up AU$5K that would have cost me $12 to have the card setup. I would not have earned the cash backs but would not have incurred the NZ$102 in currency fees from the 57 transactions I did 

Interestingly the NBNZ's travel card in addition to the $12 setup also charges one 1.1% of the amount to be loaded ! so the Kiwibank one is better

Consumer also have an article on this topic too


 
 
 
 


401 posts

Ultimate Geek
+1 received by user: 98

Trusted

  # 667573 4-Aug-2012 18:58
Send private message

xlinknz:

I spent AU$4193 on my NBNZ Thoroughbred Visa. The conversion fees came to a total of NZ$102 however this is off set by the 1% cash backs earned [NZ$42] so the next difference i.e. cost to me was $NZ60

If I had used a Kiwibank loaded for travel card i.e. loaded up AU$5K that would have cost me $12 to have the card setup. I would not have earned the cash backs but would not have incurred the NZ$102 in currency fees from the 57 transactions I did 

Interestingly the NBNZ's travel card in addition to the $12 setup also charges one 1.1% of the amount to be loaded ! so the Kiwibank one is better



A couple of other things to take into consideration:

- assuming you pay off your credit card in full each statement, then you can get up to 55 days interest free credit

Lets's say you have a revolving credit facility at say 5.70%, then you can leave the credit card money sitting in there for say and average of 30 days interest free (it depends on the timing of the purchase) then AUD$4193 (say NZD$5500) will save you $25 in interest

With prepaid travel cards you have to purchase the currency in advance

- with credit cards you only pay for what you spend

With cash and prepaid travel cards, you may end up with extra money and thus either hold onto it until your next trip back (assuming you do go back) or convert it back to NZD and pay the money changer a margin/fee to do so.






843 posts

Ultimate Geek
+1 received by user: 72

Trusted

  # 667585 4-Aug-2012 19:33
Send private message

logo:
xlinknz:

I spent AU$4193 on my NBNZ Thoroughbred Visa. The conversion fees came to a total of NZ$102 however this is off set by the 1% cash backs earned [NZ$42] so the next difference i.e. cost to me was $NZ60

If I had used a Kiwibank loaded for travel card i.e. loaded up AU$5K that would have cost me $12 to have the card setup. I would not have earned the cash backs but would not have incurred the NZ$102 in currency fees from the 57 transactions I did 

Interestingly the NBNZ's travel card in addition to the $12 setup also charges one 1.1% of the amount to be loaded ! so the Kiwibank one is better



A couple of other things to take into consideration:

- assuming you pay off your credit card in full each statement, then you can get up to 55 days interest free credit

Lets's say you have a revolving credit facility at say 5.70%, then you can leave the credit card money sitting in there for say and average of 30 days interest free (it depends on the timing of the purchase) then AUD$4193 (say NZD$5500) will save you $25 in interest

With prepaid travel cards you have to purchase the currency in advance

- with credit cards you only pay for what you spend

With cash and prepaid travel cards, you may end up with extra money and thus either hold onto it until your next trip back (assuming you do go back) or convert it back to NZD and pay the money changer a margin/fee to do so.





Correct one should and I always do pay off credit cards before any interest is due 

With the Kiwibank loaded for travel card any remaining balance is converted back with no fees except if applicable read here  in some cases the exchange rate may change back in ones favor when the balance is put back to NZD [of course that would be at Kiwibank rates not the best rates available from a FX dealer etc




32 posts

Geek


  # 667690 5-Aug-2012 09:29
Send private message

ajobbins: Not in NZ. Some overseas cards don't (Eg. Some of the top tier Citibank cards in the US don't)


For the past few years, I've had a National Australia Bank Gold visa card. This has no overseas conversion fees, no foreign ATM fees (though a few can add an additional charge, had that in Las Vegas) and the rates were always under 1% of xe.com's when I checked. Oh, and free travel insurance. Best card for travelling I've ever had.

The only two downsides are the $10 AUD monthly fee, which can be avoided by depositing more than $5k/month into it, and the fact that they're just about to nuke pretty much all the awesome features that made it worth having. I'll be cancelling mine soon, and hope to find something in NZ that's similar...

Doesn't look too likely, though, after reading this thread.

Regards,

 - David.

1 | 2 | 3 
View this topic in a long page with up to 500 replies per page Create new topic



Twitter and LinkedIn »



Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Dunedin selects Telensa to deliver smart street lighting for 15,000 LEDs
Posted 18-Jul-2019 10:21


Sprint announces a connected wallet card with built-in IoT support
Posted 18-Jul-2019 08:36


Educational tool developed at Otago makes international launch
Posted 17-Jul-2019 21:57


Symantec introduces cloud access security solution
Posted 17-Jul-2019 21:48


New Zealand government unveils new digital service to make business easier
Posted 16-Jul-2019 17:35


Scientists unveil image of quantum entanglement
Posted 13-Jul-2019 06:00


Hackers to be challenged at University of Waikato
Posted 12-Jul-2019 21:34


OPPO Reno Z now available in New Zealand
Posted 12-Jul-2019 21:28


Sony introduces WF-1000XM3 wireless headphones with noise cancellation
Posted 8-Jul-2019 16:56


Xero announces new smarter tools, push into the North American market
Posted 19-Jun-2019 17:20


New report by Unisys shows New Zealanders want action by social platform companies and police to monitor social media sites
Posted 19-Jun-2019 17:09


ASB adds Google Pay option to contactless payments
Posted 19-Jun-2019 17:05


New Zealand PC Market declines on the back of high channel inventory, IDC reports
Posted 18-Jun-2019 17:35


Air New Zealand uses drones to inspect aircraft
Posted 17-Jun-2019 15:39


TCL Electronics launches its first-ever 8K TV
Posted 17-Jun-2019 15:18



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.