Your travel life gets a tiny bit easier from Friday. Anyone with a prepaid Mastercard will no longer be offered Dynamic Currency Conversion.
Dynamic Currency Conversion is when a shop or hotel offers you ‘the convenience’ of paying in your home currency, whilst failing to mention that a charge of 5% or so will apply.
To add insult to injury, your credit card will often add an additional 3% foreign currency surcharge – even though you paid in Sterling – because the transaction originated outside the UK.
From Friday, prepaid Mastercard products – which includes loadable cards such as WeSwap – will be blocked from DCC. The card terminal will block it at the point of payment. This may also include the Miles & More Mastercard which is technically a prepaid product.
The easiest way to avoid DCC is to pay with an American Express, since Amex bans the practice entirely. Unfortunately, UK American Express cards charge 2.99% foreign exchange fees so it makes more sense to pay with a specialist Mastercard or Visa which waives this.
moneysavingexpert.com has more details on this story here.
Want to earn more points from credit cards? – September 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: The sign-up bonus on the Virgin Atlantic Reward+ Mastercard is doubled to 30,000 Virgin Points if you apply by 2nd October. You receive 15,000 Virgin Points with your first purchase and a further 15,000 points if you spend £3,000 within 90 days. Apply here.
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
30,000 points and a huge range of valuable benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
30,000 bonus points (SPECIAL OFFER TO 2ND OCTOBER) 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 bonus and an annual £200 Amex Travel credit Read our full review
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
Capital On Tap Business Rewards Visa
Get a 10,000 points bonus plus an extra 500 points for our readers 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.