As a global citizen, managing your finances efficiently while living abroad is important. Selecting the right credit card can a big difference for your savings.
However, navigating the plethora of credit card options out there can be overwhelming. That's why we're excited to share this list with you.
We've done the legwork, so you don't have to. Our team has handpicked credit cards that align with your needs as an expat, remote business owner, or digital nomad. Whether you're looking for travel rewards, cashback, or exclusive perks, we'll have a recommendation for you.
Discover the cards that'll help enhance your global personal finance experience.
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The American Express Business Platinum is a premium business credit card known for its exclusive benefits and perks. It caters to business travelers and offers features like airport lounge access, travel credits, and rewards programs, making it a valuable choice for business owners seeking luxury and convenience in their spending.
The AMEX Platinum is a top-tier credit card that comes with a fantastic welcome bonus, luxurious perks, and a range of additional value-add services. It's my go-to card for no foreign transaction fees, airport lounges (Centurion FTW), and concierge service.
You'll getUber credits, discounts on airfare, bonus points, cashback, and a whole lot more. One standout feature of this card is its extensive list of annual statement credits, which make your travel experience more comfortable and help you save money on your everyday purchases.
The Chase Sapphire Reserve® is a premium travel rewards card for frequent flyers and travelers who want to maximize their spending. I've used it for its no foreign transaction fees and rich miles rewards program. It's known to offer a competitive rewards program vs its closest competitor, the American Express Platinum Card®, for a lower fee. In addition, the Chase Sapphire Reserve® comes with a number of premium perks, such as travel credits, airport lounge access, and primary rental car insurance.
The Capital One Quicksilver Cash Rewards Credit Card is a good all-around card that offers a variety of benefits, including a welcome bonus, a flat rewards rate, no annual fee, and a good introductory APR offer.
While the individual benefits may not be the best in their class, they are still valuable and make the card a worthwhile option for many people.
I personally bring my Quicksilver everywhere in case as a back-up card.
Capital One Spark Miles is a go-to business card designed for small businesses and entrepreneurs. It offers travel rewards on business expenses, no foreign transaction fees, no annual fee, and simplicity and flexibility with its rewards program.
It's the business version of the Capital One Ventures personal credit card. and share similar partners.
The Chase Ink Business Preferred® Credit Card is a premium business credit card for small business owners. It provides valuable rewards, travel benefits, and flexible redemption options, making it a popular choice for businesses looking to maximize their spending.
The Wise card is a versatile debit card that can be used to spend and withdraw money in over 160 countries around the world. It is accepted at any merchant or ATM that accepts Visa or Mastercard.
The Wise card offers the mid-market exchange rate on all foreign currency transactions, with low fees of just 0.43%. This means that you can save money on your travel expenses by using the Wise card instead of a traditional bank card.
How to apply:
Instarem Amaze is a debit card that allows you to make overseas payments without foreign exchange (FX) fees. It also offers its own rewards programme called InstaPoints, which can be redeemed for cashback or travel.
The Citi Rewards Card is a cashback card that earns 4 miles per dollar (4 mpd) on the first S$1,000 per statement month spent on offline retail shopping and online transactions excluding travel.
When you link the Citi Rewards Card to your Amaze card, all transactions made with the Amaze card will be converted into online transactions, so you can earn the full 4 mpd on all your spending, even on offline transactions.
The DBS Altitude Visa card is a top-notch travel credit card in Singapore for business travelers who want to earn air miles and enjoy perks without sacrificing quality. Cardholders earn 1.2 miles per SGD 1 spent locally, 2 miles per SGD 1 spent overseas, and 3 miles per SGD 1 spent on online flight, hotel, and shopping bookings.
Before sliding your credit card abroad, it's a wise move to understand which cards are a suitable fit for your expat lifestyle. Every swipe is an opportunity for you to maximize financial advantages designed to suit your global living situation.
Below are some features to seek out when selecting a credit card for expats:
Remember, not all cards are created equal. It's crucial to find one that aligns with your spending habits and lifestyle. Always consider the benefits each card offers and weigh them against any potential annual fees to ensure you're getting the best deal.
Obtaining a credit card as an expat can offer a multitude of benefits tailored toward your international lifestyle. It can commence a journey of savings, as cards with no foreign transaction fees can significantly reduce your expenditure.
Even better, reward programs provide an opportunity to get more for your money through point accumulation, frequent flyer miles, or cash back on your everyday purchases. From a convenience perspective, it saves time when you’re traveling, cutting out the need to constantly exchange currency.
Certain credit cards can also give you exclusive travel perks, such as lounge accesses or rental car insurance for a smoother travel experience.
Before using a credit card abroad, it's important to set your priorities straight and understand what factors to consider while picking the ideal one. Here are some criteria that can offer comprehensive insights into what to look for:
Before selecting any credit card for expats, it's crucial to have a solid understanding of your financial health. In this key consideration, elements such as your credit score, outstanding debts, income level, and spending habits play a pivotal role.
Ask yourself:
For expats in the higher income bracket with spending habits geared towards travel and luxury, cards offering travel rewards and lounge access could be perfect. Just remember, these perks often come with higher annual fees.
Flexibility is often overlooked but is an incredibly crucial factor when deciding on a credit card abroad. Dive deep into the details—does the card come with rigid terms, or does it offer some wiggle room? Think of aspects like payment options and due dates, reward redemption procedures, and even the scope for limit extensions.
As an expat, you should think of a bank’s reliable customer service as one of your lifelines. Unanticipated issues can arise at any moment. A language barrier, time zone differences, or any number of expat-specific problems like reporting a lost card from another country may arise.
Consider a card issuer with a solid reputation for customer support that will promptly aid if any issues emerge.
Considering the potential risks associated with using a credit card abroad, you'd want a card issuer that takes cardholder security seriously. Fraud alert systems, 24/7 card monitoring, and the option to freeze and unfreeze your card via an app are desirable security measures.
Don't overlook the benefit of having a card that provides travel and emergency assistance, as well as coverage for trip cancellation and interruption insurance.
In this world of diverse credit card options, the right choice can truly enhance your expat financial experience. The perfect credit card for expats perfectly balances financial needs, flexibility, reliable customer service, and significant security measures. So take your time, compare your options, and make a wise decision.
The many credit card options for expats can feel daunting, but with the right approach and valuable considerations, it becomes a smooth journey. Prioritize your financial well-being, appreciate the importance of flexibility, ensure exceptional customer service, and never compromise on your card's security.
Remember, the perfect expat credit card is the one that complements your lifestyle and financial habits while enhancing your global living experience with each swipe. Happy card hunting!
The best credit card for expats varies based on their location and needs. For US-based expats, the AMEX Platinum and Chase Sapphire Reserve are excellent choices for their travel rewards and perks. For those based in Singapore, the combination of Instarem Amaze and Citi Rewards offers high reward rates and no foreign transaction fees.
The cost of a credit card can vary greatly based on its features and benefits. It can range from zero annual fees to several hundreds of dollars for premium cards with extensive benefits.
If you're in search of no annual fee cards, the Capital One Quicksilver Cash Rewards is a strong contender with its flat cash-back rate.
Yes, most credit cards can be used internationally, but it's smart to check if there are foreign transaction fees.
If your bank gives you cards issued by Visa and/or Mastercard, you’re using a card that’s typically accepted worldwide.
Yes, foreigners can get credit cards, but it often depends on their credit history in the host country and their visa status.
Whether you get charged for using your credit card abroad depends on your card. Some charge foreign transaction fees, while others, like the ones recommended for expats, do not.
