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Creation Everyday Credit Card: No FX Fees

The Creation Everyday credit card is travel credit card that can be used overseas—there's no fee for non-sterling purchases or withdrawing cash from an ATM while abroad. The interest rate on cash withdrawals is lower-than-average at 12.9% APR. Be aware that the Creation Everyday card starts charging interest on cash withdrawals immediately; there is no grace period on cash advances so balances should be paid off as soon as possible if you've withdrawn cash—even before your next due date.

Creation Everyday Card Features

  • No cash transaction fees (at home or abroad)
  • No non-sterling transaction fees
  • Applicants should have minimum income of £800 per month (after tax and NI)
  • 12.9% APR on purchases and cash withdrawals (or 17.9% or 21.9% variable)

Pros...

  • No fees on non-sterling transactions or ATM withdrawals made abroad
  • Lower-than-average interest rate on cash withdrawals
  • No annual fee

Cons...

  • No rewards or bonuses
  • No grace period on cash withdrawals

Creation Everyday Credit Card Review

The Creation Everyday Credit Card can be used while you're on holiday. You won't be charged any fees when you use your card abroad, whether you're picking up the tab at a seaside restaurant, paying for a hot-air balloon ride, or simply withdrawing local currency from an ATM. (Except that you may be charged a withdrawal fee by the ATM, independent of this credit card.)

The following table shows what fees you would incur over the course of a two-week holiday abroad during which you make non-sterling ATM withdrawals four times and retail credit card charges 20 times, using the Creation Everyday card and an average, non-travel specific card that charges 3% (£3 minimum) for use overseas:

Fees for 4 Cash WithdrawalsFees for 20 Credit Card TransactionsTotal Fees
Creation Everyday£0£0£0
A Fee-Charging, Non-Travel-Specific Card£12£60£72

Cash Withdrawals

Creation's 12.9% APR (variable) on cash withdrawals is lower than the average cash rate across travel credit cards of around 28% APR (variable), as shown in the chart below.

A chart comparing the interest rates on cash withdrawals for the best UK no-foreign-transaction-fee travel credit cards
Interest Rates on Cash Withdrawals across Travel Cards

However, there is no grace period on cash withdrawals, which means interest starts accruing immediately when you take out cash from an ATM. To limit any interest charges on your ATM transactions, try to go online and pay off your balance ASAP.

Interest charges you incur on cash withdrawals will depend on the size of the withdrawals and the time until you pay off your balance—and, of course, your APR. To give you an idea of the costs of using this credit card to withdraw cash, the following chart shows the interest charges on £1,000 of cash withdrawals at 12.9% APR for a variety of time periods. The longer you take to pay off the full balance, the higher the interest charges.

chart showing interest charges on a £1,000 foreign ATM cash withdrawal
Approximate Interest Charges Depend on Time Outstanding