Travelling abroad should ideally be an experience without any hassles. From flight bookings to arranging accommodation, with the right amount of planning, the entire process should be simple.
Something that can easily cause problems is the mode of finance you choose to use when abroad. Using a credit card abroad provides convenience along with the option to receive cash back and travel rewards.
Here’s what you need to know about using a credit card abroad:
It’s important to inform your bank of where you’ll be travelling to as well as any places where you have a stopover planned. Take the time to plan how you will use your credit card abroad.
Keep in mind that some cards are more widely accepted around the world than others. Visa and MasterCard cards are generally widely accepted.
In addition to opting for using your credit card, it’s important that you take advantage of travel assistance programs. You should consider foreign transaction fees that are charged. An option for counteracting this is by signing up for a no foreign transaction fee credit card.
Be sure to be cautious when using a credit card abroad. For instance, you should refuse to sign any receipt not expressed in the local currency. Chip and PIN technology provides a higher level of security.
Use internet banking to your benefit and pay off credit card balances as soon as possible.
Keep in mind that you have the option of using a prepaid credit card. You have the option of choosing the card that charges you the least amount of fees. You’ll know exactly how much you can spend, since the amount will be loaded onto your account. Applying for prepaid credit cards won’t influence your credit score. Unlike with traditional credit cards, there is no need to worry about interest or any late payments. You simply spend what you have available on the card.