Is the easyJet Euro Currency Card worth a look?
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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? – April 2024 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:
Barclaycard Avios Plus Mastercard
Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review
Barclaycard Avios Mastercard
5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review
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.
British Airways American Express Premium Plus
25,000 Avios 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
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Virgin Atlantic Reward+ Mastercard
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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: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.
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
American Express Business Platinum
40,000 points sign-up bonus and an annual £200 Amex Travel credit Read our full review
American Express Business Gold
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Capital on Tap Business Rewards Visa
Huge 30,000 points bonus until 12th May 2024 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.
Barclaycard Select Cashback Business Credit Card
1% cashback uncapped* on all your business spending (T&C apply) Read our full review
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