Traveling internationally is one hell of an adventure. Experiencing different cultures, food, and sights is truly a great experience of a lifetime. And with those experiences comes expenses. Use credit card abroad intelligently.
To anyone who had experience traveling outside your own country, you for sure have different ways of spending money during your travel. For some point, you may also have experienced the need for extra cash aside from the one you already have in hand.
Facts about Using Credit Card Abroad
While you’ll always need some cash, having a credit card can significantly simplify traveling overseas. You won’t really have to deal with converting currency. You need not worry about converting just the right amount of money. You will automatically get one of the lowest conversion rates possible.
In this generation where people mostly have debit or credit cards, we rely on these so much nowadays. And if you’re like those people who don’t want to have any cash in their pocket, using their cards has become a norm in payment transactions almost everywhere.
Before you embark on a new journey to travel overseas, it is also important to keep in mind some tips when you are using your credit card smartly overseas.
Although it’s advisable to use one card intentionally to best monitor your expenses, it is best to have at least 2 different types of credit cards or debit cards from different major networks. The top 2 highly used credit card providers are Visa and Mastercard. There are also other credit card networks you can use. But it is smart to have at least 2 of them handy. It is helpful to have a back up in case one of the networks has an outage. It helps if the place you want to use your card with doesn’t accept the other provider.
Some establishments will ask you if you want to pay in US dollars or in the local currency. Quick tip: Opt for the local currency because there’s a better chance of getting a better exchange rate on foreign transactions versus the vendor itself.
Foreign Transaction Fees
It is advisable to use or have a credit card that incurs no foreign transaction fees. You can check with your provider for the terms of your card to make sure you have those options because foreign transaction fees usually adds 3%to the cost of the purchase made abroad.
Inform your Bank Ahead
It is helpful to let your credit card company know ahead of time if you have plans to use your card abroad. In that way, you can avoid having your account flagged or blocked if they notice an activity that it was used at an unusual location. Also, this is the perfect time for you to discuss the terms you have with your bank regarding overseas transactions.
Hold your Receipts
In the event that you may experience some unusual charges when your billing statement finally arrives, keeping your receipts will be helpful in this situation. This will support your claim when you have to dispute these charges.
Having cash on hand is good when traveling but its still safe to have credit cards on hand. In this era, most people really rely on credit cards for payment transactions. Using them anywhere had become easier nowadays. So it is best to be prepared. Have some useful tips to keep in mind for your security and worry-free vacation outside the country.
We hope you find our tips helpful and have safe travels, everyone!