Foreign exchange group Moneycorp, who you will be familiar with if you travel from Gatwick, Stansted, Southampton, Southend or Bristol on a regular basis, has launched a new prepaid explorer Mastercard for holidaymakers.
As a special offer, Moneycorp is offering a £20 bonus to new customers who order a card and load it with at least £50.
Full details are here. This deal is branded as a Facebook offer because it is primarily being promoted on there. Moneycorp has confirmed to me in writing that anyone who applies via this link will definitely get the bonus despite not clicking through from Facebook.
The explorer Mastercard can be operated in £ or six foreign currencies:
- Pound Sterling
- US Dollars
- Australian Dollars
- New Zealand Dollars
- Canadian Dollars
- South African Rand
If you have a balance remaining on the card after your trip, you can convert it into a different currency in preparation for your next trip.
There are no foreign exchange fees when using the card as long as you are buying something in the same currency which is loaded to your card.
The full list of fees which do apply are here. You will not incur any fees if you do not use the card at an ATM, use it in the UK, or use it in a different currency to the one loaded on the card. There is no fee to order the card.
The exchange rate used to load the card is the same as that used by Moneycorp for online foreign currency orders. In a test yesterday it was offering me €1.1565 per £1.
Some people like the security of prepaid travel money debit cards. Regular readers of Head for Points will know that I am personally not a fan because it is an extra level of complexity over using your standard credit or debit card. However, the incentive of a free £20 credit for ordering a £50 card means that this is a good opportunity to give them a try.
You must be a UK resident aged 18+ to apply and you can only order one card per person. Cards take 7-10 days to arrive. You can change the PIN at any UK ATM.
The ‘free £20’ offer is available for applications until 31st August. The application page is here.
PS. The small print says that the £20 free credit may take up to 90 days to be added to your card, so do not expect it immediately
Want to earn more points from credit cards? – September 2022 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.
EDIT: Until 25th October 2022, there is an exceptionally generous sign-up bonus on The Platinum Card. You will receive 60,000 Membership Rewards points – double the usual amount – and £200 to spend at Amex Travel. You need to spend £6,000 within six months to earn the bonus.
British Airways American Express Premium Plus
25,000 Avios and the UK’s most valuable card perk – the 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 & two airport lounge passes Read our full review
The Platinum Card from American Express
60,000 points, £200 travel credit and an unbeatable set of 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:
American Express Business Platinum
40,000 points sign-up bonus and a long list of travel benefits 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
50,000 points bonus until 2nd October – the most generous Avios Visa for a limited company 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.