Potential to avoid currency conversion fees: If you use a credit or debit card while travelling, your institution may charge you currency conversion fees for each transaction. With a travel card, your funds will already be in the currency of the country in which you are travelling, so this may be avoided.
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Unlike a debit or credit card, however, you can lock in an exchange rate at the time of depositing the funds and load multiple foreign currencies in your account – which may be helpful for multi-country trips.
Travel credit cards can offer more lucrative reward points when making travel and dining purchases. The extra reward points you earn from either a general, hotel or airline credit card can accumulate quickly and can be used toward plane tickets, hotel rooms and more.
Credit cards typically provide better exchange rates than what you'll get from ATM machines and currency stands. Depending on your card issuer, your purchases might automatically qualify for insurance. This coverage doesn't simply apply to consumer goods — it also covers travel delays and lost luggage.
There are only a few downsides to using prepaid cards, but they are significant. Prepaid cards come with fees. Cardholders may have a lot of fees, including activation fees, transaction fees, ATM withdrawal fees, reloading fees, monthly fees, or inactivity fees. Check the fine print on the card for fee types.
A Travelcard (in the zones it's valid for) gives you unlimited travel at any time on bus, Tube, Tram, DLR, London Overground, Elizabeth line and National Rail services in London. You can use it on all buses, and if valid in zones 3, 4, 5 or 6, on all trams.
Pay as you goYou don't have to work out the cost of your journey in advance. You can pay as you go using contactless (card or device), an Oyster card or a Visitor Oyster card. It also offers great value as pay as you go is cheaper than buying single tickets and you get daily and weekly capping.
You will have been charged an extension fare, taken from your pay as you go balance. If you didn't have any pay as you go credit on your Oyster card, your balance will be negative and you will need to top up your card before you can travel again - even if you have a valid Travelcard.