Credit cards

Question

Coming from New Zealand

Which is best to use?

A Wise travel card or a Westpac Master Credit card.

Thanks

Answer

When deciding whether to use a Wise travel card or a Westpac MasterCard Credit Card for your trip to Las Vegas, there are a few factors to consider. Both options have their benefits and drawbacks depending on how you plan to spend and manage your money while abroad.

Wise Travel Card:
- The Wise card (formerly known as TransferWise) is great for international travel because it allows you to hold multiple currencies and spend directly in the local currency without foreign exchange fees. This is especially useful for avoiding high conversion fees when making purchases in USD in Las Vegas.
- Wise offers a real exchange rate (the mid-market rate), which is typically much better than what most banks or credit card companies offer. This can save you money on conversions, especially if you're spending a significant amount.
- There are low or no fees for withdrawing money from ATMs, but keep in mind there may be limits on how much you can withdraw without incurring charges, depending on your account settings.
- It's easy to load funds onto the Wise card from your New Zealand bank account or other sources, making it a flexible option for travel.
Westpac MasterCard Credit Card:
- A Westpac MasterCard credit card is a traditional credit card that can be used for purchases at most places. It’s a convenient option if you prefer not to pre-load money on a travel card like Wise.
- Credit cards like the Westpac MasterCard often offer rewards programs or travel perks, so if you’re planning to use the card for large purchases or booking flights and accommodations, you could earn points or other benefits.
- However, credit cards tend to have higher foreign transaction fees (typically 2-3%) and less favorable exchange rates compared to a specialized travel card like Wise. You may also incur interest if you don’t pay off your balance in full.
- For ATM withdrawals, you will likely face higher fees with a credit card, both for the transaction fee and for the interest charged on cash advances.

Which to choose? If your goal is to minimize fees and get the best exchange rate while avoiding the risk of credit card interest, the Wise card is a better option. It’s especially convenient for day-to-day expenses and smaller purchases like meals, tours, and shopping in Las Vegas.

If you prefer the flexibility and additional perks of a traditional credit card, and you’re okay with the extra fees, the Westpac MasterCard could still be useful, particularly for larger purchases or if you plan on earning rewards points. Just be mindful of foreign transaction fees and interest rates.

Overall, for the best value, most travelers tend to prefer using a combination: a Wise card for most purchases and a credit card like the Westpac MasterCard for larger payments or emergencies.

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