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).
You’ll find that Mastercard and Visa are more popular in Taiwan than American Express, but you can still pay with your Amex card in some places or use an ATM. Despite that, Taiwan is still mostly dependent on cash. In some places, like family restaurants or small shops, you may not be able to pay with your credit card at all.
There are a few potential fees to watch out for when you’re paying with plastic:
It’s also worth noting that when it comes to cash advances and non-sterling transactions, card issuers will often start charging interest on the day your account is debited, rather than the customary “up to 55 days interest-free” that applies when you clear your balance in full each month.
Here’s a section of a fairly typical T&Cs document showing the charges applicable when spending abroad:
Consider taking out a credit card offering commission-free currency conversion (see table below), even if you only use it when you’re out of the country. Once you have one of these cards, if a merchant offers to take payment in pounds, say you’re happy to pay in New Taiwan dollars, since you know your own bank won’t charge you for the privilege.
Generally speaking it’s not a great idea to use a credit card to withdraw cash, but some travel credit cards won’t penalise you for this either. Finally, make sure to check whether the ATM you use is going to charge a fee. Bank ATMs are generally a safer bet than those in convenience stores or bars.
American Express cards are accepted in Taiwan, but not as much as Visa and Mastercard are. If you want to withdraw cash with your Amex card, look for Chinatrust Commercial Bank ATMs.
You shouldn’t have any problem if you have a chip-and-PIN card. Just make sure the logo of your card matches the logo on the ATM or POS terminal.
Yes, it’s safe to use your credit card in Taiwan. But for added security, consider the following precautions:
In general, they don’t. But if you want to pay for your ride with a credit card, you can use Uber. Typically, Uber is less expensive than a regular taxi in Taiwan anyway.
Credit cards aren’t as widely accepted in Taiwan as in other places, but they’re safe to use and you shouldn’t have a problem paying where credit cards are accepted. Your only issues might be the foreign transaction fees and DCC, but with the right credit card and by declining DCC when offered, you can save some money.
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