I wrote a long piece last week about the avios.com and British Airways ‘cash passport’ products. These are reloadable cards which can be used instead of credit cards for making payments abroad. I wasn’t impressed.
Two people have asked me about the new easyJet Euro Currency Card, and whether this is worth a look.
The home page for the easyJet Euro Currency Card is here.
The good news, I suppose, is that the card is not orange! The issuer is R Raphael, who also run the avios.com and BA cash passport cards.
This card is impressively free of fees. There is no transaction fee (as long as you buy items priced in Euros) and there is NO CHARGE for topping up the card using your debit card. (This compares to the 2% fee on the Avios cards.) You can also use a credit card, although there is a 2.5% fee – it is not clear if it would go through as a purchase or a cash advance.
There is also no fee for using the card at an ATM in Europe, although the bank you use may impose its own charge.
As the card is fee free, the only item to look at is the exchange rate. Putting in a test order, it showed a rate of £1 = Euro 1.1272. The spot rate was Euro 1.1567. This means that the spread is 2.3% – surprisingly decent.
However, looking at the same time at the American Express travelmoneynow website, they offered a rate of Euro 1.137 for a pre-ordered transaction, collected at the airport. Not only is this a better rate, but the transaction would be treated as a purchase if charged to an Amex-issued American Express card.
Now, of course, you may not want to carry cash around. However, pre-ordering cash from Amex will get your more for your money than getting an easyJet Euro Currency Card. You also have the issues around emptying out the easyJet card after your holiday.
Compared to using a miles and points credit card, the easyJet card is better value. All miles and points card charge a 2.75%-2.99% spread compared to 2.3% on this card. However, once you factor in the value of the miles and points you would also earn on the transaction, using a normal credit card would be a better deal.
If you really must have a prepaid currency card – perhaps to give to a young person who cannot get a credit or debit card – then this product does offer decent value for money. For the rest of us, though, I still don’t see the point.
Want to earn more points from credit cards? – January 2023 update
If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.
In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.
SPECIAL OFFER: Until 21st February 2023, the sign-up bonus on the British Airways Premium Plus American Express card is increased to 35,000 Avios from 25,000 Avios. You can apply here.
British Airways American Express Premium Plus
35,000 Avios (ONLY to 21st February) and the famous annual 2-4-1 voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review
The Platinum Card from American Express
30,000 points and unbeatable travel benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
15,000 points bonus and 1.5 points for every £1 you spend Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers:
SPECIAL OFFER: Capital On Tap has increased its sign-up bonus to points worth 30,000 Avios if you apply by 4th February. This is exclusive to Head for Points readers. Click here to apply.
American Express Business Platinum
40,000 points sign-up bonus and a £200 Amex Travel credit every year Read our full review
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
British Airways Accelerating Business American Express
30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review
Capital On Tap Business Rewards Visa
Get a 30,000 points bonus, worth 30,000 Avios, until 4th February 2023 Read our full review
For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.