Wise Card Vs 0% Foreign Transaction Fee Rewards Credit Card — Which One?

Silmo on 15/08/2025 - 14:53

I’m trying to decide between using a Wise card or a rewards credit card that has 0% foreign transaction fees for online international purchases and international travel.

From what I understand:

  • Wise gives mid-market exchange rates and low fees, but no rewards.
  • 0% FTF credit cards can earn points/cashback, but the exchange rate may not be as good as Wise.

Has anyone compared which one gives better overall value in real life?
Would it be better to use Wise for day-to-day spending and a credit card for larger purchases, or just stick with one?

Keen to hear your experiences, especially from fellow Australians who travel overseas often or shop online internationally.

Financial Credit Card Wise

Comments

  • Duckie2hh on 15/08/2025 - 14:55
    +1

    Has anyone compared which one gives better overall value in real life?

    Did you run the numbers in Microsoft Excel ?

  • tigerjie on 15/08/2025 - 15:35
    +7

    Imo the interest free period + rewards points from the credit card outweigh the marginal difference in exchange rates between Mastercard/Visa and Wise

    • Silmo on 17/08/2025 - 13:50

      Thanks for sharing

  • S2 on 15/08/2025 - 15:35
    +2

    Has anyone compared which one gives better overall value in real life?

    The comparison you are after are covered here: Debit & Credit Cards with No International Fees

  • sumyungguy on 15/08/2025 - 15:41

    Travellers use Macquarie/Wise/Revolut/Up Bank to make ATM withdrawals; there are some cashless destinations but not the case everywhere.

    • Silmo on 17/08/2025 - 13:51

      Makes sense, so use debit for withdrawal and use credit for payment

      • sumyungguy on 18/08/2025 - 14:47
        +1

        Not ideal to use credit cards for ATM withdrawals as they're processed as cash advances; so yes, credit card with no international fees for all of you spending plus an alternative source to get cash if it's needed.

    • CharlieSheen on 18/08/2025 - 12:29

      Depends where. Some countries I find you'll be charged an ATM fee regardless and card isn't widely accepted or charged a surcharge, some countries even have fee free ATMs. I found Thailand notorious for the former.

  • SmiTTy on 15/08/2025 - 17:50
    -2

    Personally, I use wise for overseas cash withdrawals, and cc for purchases

  • itoyjobed on 15/08/2025 - 18:02

    I have compared foreign transactions between Wise, UP bank, Bendigo Ready card in Thailand, Singapore and India during my recent travels this year. I can vouch that Wise rates are the best out of the bunch.

    • nned2say on 16/08/2025 - 10:05
      +1

      UP is partnered with Wise for international money transfers, so I assumed their rates would be the same. It's interesting to know Wise rates are better.

  • Brucet on 15/08/2025 - 20:04
    -1

    I use Revolut

  • happydude on 15/08/2025 - 20:34

    Bali I take Wise as cash is king and it can be used for ATM withdrawals. With a CC you still get hit with cash advance if used for cash out.

    Europe I just take CC as you can get by easily with ever having a pound, euro or frank touching your wallet.

    There isn't one answer to the Wise v CC debate.

  • HardQuiz on 15/08/2025 - 21:39
    +1

    rewards credit card that has 0% foreign transaction fees

    What is this card ?

    • timhn on 16/08/2025 - 13:54

      Yes, I'm wondering where OP found this unicorn unless it's the Commbank Ultimate Awardd CC. But that card has a monthly fee.

      • sumyungguy on 16/08/2025 - 13:57

        It's fee-free if you have a relationship with CBA; not a great points earner either.

        • 6079 Smith on 16/08/2025 - 14:36

          Also if you spend enough, and I think that 1.5 VA ppd on FX spend is pretty decent as an earn rate

    • happydude on 16/08/2025 - 14:58

      This is a wiki for these - https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra…

    • Silmo on 17/08/2025 - 13:52

      I currently have bankwest platinum qantas that provides this

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