Wise Ways of Using Credit Cards While Traveling Abroad

By on November 5, 2013

It is always very excited to go overseas and there are many things to look after before the start of your trip. Finding a good place to stay on is the first most important thing as everyone deals with. Get as much money as possible along with you (dollars, pounds, cents etc…).

It is much more convenient for you to depend on credit cards with the one having best exchange rates and lower fees. Use of credit card is much better for hotel bills, car rentals, and airline tickets.

Credit Card Tips While Traveling AbroadWhen you buy anything in the foreign currency, the best exchange rates can be gained through credit cards and this is usually low compared to the currency conversion at the exchange bureau.

What to do before leaving to abroad?

Let your credit card company know about your abroad tour and journey details. If this is done earlier, you may not get into trouble while using your credit for foreign purchases.

Also get their contact details that work internationally and also the procedure to do in case of theft or lost credit card. It is personally recommended to use back-up credit card.

Get the detailed information on types of credit cards that offer benefits like travel insurance and choose the best that is convenient with you. As most of the time you will be charged with advance cash fee when you use ATMs.

Always make sure that your credit card is having a positive balance (credit some money), so as to get rid of the advance interest which may be higher than the interest rate of your purchases.

In Europe, there are some chances on accepting the cards encrypted with chip or PIN. But most of the US cards do not have such cases. Most of the US cards rely on the magnetic strip.

Dual cards are being issued by few banks which use embedded chip and magnetic strip. So using the credit card where its brand is famous in that country is better.

When you are subjected to use your credit card only in emergency cases, then make sure to know the exchange rates or charges that apply to your purchases each time and do not hesitate to call the company for each and every purchase. Use of two credit cards is always good in overseas if your card is theft or lost.

It will be like your back-up card if your main card is lost. Always try to keep your wallet containing the things which you need most in your hidden belt or front pocket as it is not safe keeping in back pocket which is the easy target for pickpockets.

It’s always better and wise to keep your financial information in encrypted USB flash drive. That way, if you lost your main card anywhere, you would get access to toll-free numbers and account numbers.

When you plan for a trip abroad, you get excited to many things like staying in hotels and sightseeing etc. But there is one more thing to consider in your trip which may not be entertaining that is good financial planning of your trip or vacation.

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