Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £3 per month, your representative rate is 27.7% APR (variable).
Using a credit card in Japan isn’t as common as it is in most first-world countries. Despite an economy driven by technology, Japan remains a largely cash-based society. Credit and debit cards are becoming more popular, but if your card is issued by a bank outside of Japan, using it might not be as easy as you think.
If you’re travelling in a big city like Tokyo, Yokohama or Osaka, you can expect most big hotels and shops to accept credit cards. And with the 2020 Tokyo Olympic Games on the horizon, more businesses should start following suit.
You’ll find that large shops, supermarkets and hotels accept credit and debit cards, as will most taxis. But smaller souvenir shops, neighbourhood restaurants, local market stalls and traditional Japanese ryokan limit their transactions to cash. This is also the case for most guesthouses operated by private owners.
If you buy a low-cost item and pay with a large bill — such as a 10,000 yen note — you’ll typically have no problem receiving change. Whether you’re limiting your visit to a big city or plan to travel to rural areas, make sure you carry enough cash for your daily needs.
Cash machines (ATMs) are a common sight in big cities, but you’ll be hard pressed to find one that accepts international credit or debit cards. You can however typically use your UK cards at post offices, however, and in 7-Eleven shops.
Unlike in most countries, many Japanese ATMs don’t operate around the clock. Instead, they’re often switched off at night — typically at 7pm on weekdays and 5pm on weekends. Some 7-Eleven ATMs operate 24/7.
Chip and pin is widely used in Japan. If you never got round to signing your card, however, do this before you leave!
Both magnetic-stripe and chip and pin credit cards are common in Japan. An increasing number of Japanese banks are switching over to chip-enabled cards because they offer enhanced security.
When you find a merchant that accepts credit cards in Japan, you may face a handful of fees.
British credit card issuers typically charge a fee equivalent to 1% to 3% of your transaction, so carefully review your card’s fine print to avoid statement surprises. Some cards designed for travel come with no foreign transaction fees, so this could be a good time to switch.
Learn more about cards designed for overseas spending
If a retailer offers to bill your credit card in Sterling, dynamic currency conversion comes into play. While this might sound like a good deal, you’ll actually end up getting a less-than-favourable exchange rate, and you might also end up paying currency conversion fees. Whenever you’re presented with an option, choose to pay in yen.
Using your credit card to withdraw money from an ATM may not make sense unless it’s a bona fide emergency. Each time you withdraw funds from an ATM, you’re likely to pay a cash advance fee. Your APR for cash advances is typically higher than your purchase APR, and you’ll often get no grace period on interest — instead, you start paying interest immediately. Again, some cards designed for overseas spending will waive this fee.
The table below serves as an example of how much extra you may pay to use your credit card for in Japan.
Additionally you can get an idea of costs by using these online currency conversion tools from Mastercard and Visa.
Crime levels in Japan are very low, and it’s typically safe to take public transportation or walk about after dark. However, you should maintain the same caution that you would in the UK and use your credit card carefully.
Even though levels of crime in Japan are low, you wouldn’t want to become the victim of an isolated incident. Keep your credit cards with you at all times, and don’t let them out of your sight — even when paying bills at hotels, restaurants or bars. Using a neck pouch can help keep your cash, cards and travel documents close to you, no matter where you go.
Before you travel to Japan, ask yourself these questions to make your stay stress free.
Once you’ve established where you can use your credit card and where you’ll need cash, you can relax and focus on enjoying your stay in Japan!
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