Now in the UK you can swipe both credit cards and UnionPay cards.

The process of swiping a card overseas is far from just charging a "counting fee". The currency used for transaction and accounting, different exchange rates, currency market trends, etc. will all affect the final price of the transaction. . Therefore, it is impossible to simply determine which card is more cost-effective.

Generally, it is more cost-effective to choose foreign currency transactions than local currency transactions. VISA uses US dollars to buy the local currency - British pounds, while UnionPay uses RMB to buy the local currency - British pounds. As for which transaction price is more appropriate, it depends on their respective bargaining power.

The exchange rate for card consumption will also change every day, and each card organization will update this exchange rate every day. This exchange rate is not a simple query of the central bank exchange rate. VISA's exchange rate can be checked on its English website, while UnionPay can only check it by calling the consultation hotline, and there are 9 currency rates that can be checked.

Intuitively speaking, the fewer the number of currency conversions, the less the exchange rate loss, because the conversion process needs to involve exchange differences.

VISA, one of the world's largest credit card organizations, has a relatively obvious advantage in currency negotiations. Their exchange rates are often better, while UnionPay is slightly inferior. If you add a 1%-2% currency conversion fee, it is more cost-effective to use a UnionPay card, because the difference in exchange rate prices is generally not as much as 1-2%.

Extended information:

The dual-currency credit card that is currently very popular in China can be used with either UnionPay or VISA. You must pay attention when using it and remember to clearly inform the cashier in advance. , you need to choose which channel for accounting.

In actual situations, sometimes even if clearly informed, cashiers often make mistakes. Originally they wanted to use UnionPay but instead used VISA, and only the local currency will be displayed on the consumption receipt. , the final settlement amount will only be known after checking the bank statement.

If you want to avoid this embarrassment, it is best to use a single currency card, that is, a UnionPay standard card (RMB single currency card) or a foreign currency card (USD single currency card, etc.).

Which credit card has more and stronger discounts is also an important factor when considering using it. Objectively speaking, the scope of application of UnionPay cards in the UK is definitely not as good as that of established bank card organizations such as Visa or MasterCard. However, UnionPay International has invested heavily in overseas card payment promotions in recent years, and the benefits it has brought to cardholders are Big.

If UnionPay cardholders spend more than 300 pounds at World Duty Free at London Heathrow Airport, Manchester Airport and Birmingham Airport, they can enjoy a 15-pound discount as a credit.

In addition to choosing different card organizations, there are also considerations in which bank card you choose. In order to reward cardholders, each bank has its own unique overseas consumption promotions.

The Shanghai Pudong Development Credit Card is a credit card with strong cash rebates for overseas consumption.

Before June 30, if you spend 5,000 yuan on all credit cards of Pudong Development Bank overseas, you can get 10% cash back on the excess. Each person can get up to 2,000 yuan in cash back. If you spend 100,000 yuan, you can get 5,000 yuan. Pufa Dream Card also has another activity: overseas Dream Card swiping, 8% cash back for each transaction, up to one month $80 back, ends at the end of the year. Two activities can be combined.

CCB’s Dragon Card credit card also offers discounts for overseas purchases. In each natural month before June 30, after registration, you can use the Dragon Card credit card to make 6 overseas purchases or cash withdrawals, and each transaction is worth RMB 600. You can receive a cashback reward of 6% of the total overseas transactions of the month, with a maximum cashback of 360 yuan per person per natural month.

Tailong Bank’s Tairong VISA Credit Card offers all cardholders overseas consumption or payment through VISA lines. If the single amount exceeds 1,000 yuan, you can enjoy a 5% cash back reward. Single card for one person The cumulative maximum is 4,999 yuan.

Reference materials: Baidu Encyclopedia—China UnionPay

Reference materials: Baidu Encyclopedia—visa