What the Diamond Reserve Credit Card offers
The Diamond Reserve Credit Card stands out with a set of travel-friendly features aimed at frequent international travellers and those who want cleaner foreign transactions. The card’s headline benefits are 0% forex markup, interest-free global ATM cash withdrawals, and lifetime reward points. Together, these features can lower the cost of overseas spending and simplify rewards accumulation.
Zero forex markup — what it means for your travel spending
Forex markup is the extra percentage charged when you use a card abroad or when a merchant bills in a foreign currency. With a 0% forex markup, you pay only the exchange rate without the usual bank surcharge on top. That can reduce the effective cost of international purchases, online subscriptions billed in foreign currencies, and in-destination spending.
Practical tip: while 0% markup removes the surcharge, the card will still use a base exchange rate set by card networks (Visa/Mastercard) on the day of the transaction. Always review the foreign transaction details on your statement for transparency.
Interest-free global ATM cash withdrawals — how it helps
Many cards charge cash withdrawal fees and start charging interest immediately. The Diamond Reserve card’s interest-free global ATM withdrawals mean you can withdraw cash abroad without the usual interest charges during a specific grace period. This can be especially useful for destinations where cash is preferred or when emergency funds are needed.
Important to note: ATM operator fees and local withdrawal charges may still apply. Also, terms such as the number of free withdrawals or the duration of the interest-free period can vary, so check the card terms before travelling.
Lifetime reward points — ongoing value from spending
Lifetime reward points imply that points you earn do not expire as long as your account remains active. This removes pressure to redeem quickly and lets cardholders accumulate points over time for larger redemptions such as travel, gift vouchers, or statement credits, depending on the redemption options offered.
To get the most value from lifetime points, consider a redemption strategy: focus on rewards that offer high value per point (for example, certain travel bookings) rather than low-value catalogue items.
Other benefits and typical features to expect
- Travel perks: Priority lounge access, travel insurance, and concierge services are commonly bundled with premium cards; verify which of these, if any, are included.
- Welcome offers and milestone bonuses: Cards often offer bonus points on meeting spending thresholds. These can boost early rewards accumulation.
- Contactless and digital tools: Expect contactless payments, mobile wallet compatibility, and online account management apps for tracking spending and rewards.
Costs, eligibility and fine print to watch
Even cards with attractive benefits can carry costs. Look for:
- Joining or annual fees: Premium cards sometimes have a one-time joining fee or recurring annual charge. Occasionally, fees can be waived on meeting a spending criterion.
- Interest rates on purchases and balances: The card may offer interest-free periods for purchases but standard interest on outstanding balances if you carry them.
- Foreign ATM operator fees: These are charged by the ATM owner and are separate from the card issuer’s fees.
- Redemption rules: Points valuation, blackout dates for travel redemptions, and minimum redemption thresholds can affect how useful points are.
Check eligibility criteria such as minimum income, credit score requirements, and documentation needed for application. These details determine whether the card is accessible to you.
Who should consider this card?
This card suits travellers who spend regularly in foreign currencies, want predictable transaction costs abroad, and prefer long-term rewards accumulation without expiry pressure. It can also benefit those who need occasional cash withdrawals overseas without immediate interest penalties.
For occasional travellers or cardholders who use cards mostly domestically, the advantages of 0% forex markup and interest-free international withdrawals may be less compelling compared with local cashback or low-fee options.
Final thoughts
The Diamond Reserve Credit Card combines several travel-focused advantages that can reduce the cost and friction of international spending. Its core strengths — 0% forex markup, interest-free ATM withdrawals abroad, and lifetime reward points — address common pain points for frequent travellers. Before applying, compare the card’s fees, insurance coverages, and redemption value against your travel habits and spending patterns to ensure it delivers the best overall value.