Credit cards offer a convenient solution for traveling abroad, eliminating many of the administrative hassles of foreign currency transactions. But selecting the appropriate card and notifying your financial institution of your travel plans in advance are key in order to prevent fraud, theft and unusual activity alerts being activated during your journey.
Consider applying for a credit card designed specifically to cater to travelers, which typically waives foreign transaction fees and offers generous rewards.
Chip and PIN cards
Many credit cards now feature Chip-and-PIN technology. This enables cardholders to enter a PIN instead of signing at unattended terminals like ticket kiosks and gas pumps; such cards may offer wider acceptance rates than signature-only cards.
Credit cards can significantly simplify travel spending abroad. By eliminating currency conversion hassles and foreign transaction fees, not to mention potential theft or fraud risks due to their reduced vulnerability against pickpocketing, credit cards are an ideal choice when traveling overseas.
Some credit cards feature additional perks for travelers, like travel rewards or waived foreign transaction fees. Before your next vacation, be sure to select a credit card that best meets your travel needs – NerdWallet offers personalized recommendations based on spending habits so that you can find your ideal credit card!
International acceptance
When traveling abroad, it’s reassuring to know your credit card will be accepted. Visa and Mastercard cards tend to be more widely accepted than American Express or Discover ones; therefore carrying multiple credit cards with you may help ensure at least one will work everywhere you visit.
An affordable credit card that doesn’t charge foreign transaction fees can make traveling much more enjoyable, while keeping your card issuer informed about your travel plans is key; otherwise, purchases could trigger red flags with them and trigger security freezes on the account.
Credit cards designed specifically for international travel offer more than rewards and reduced transaction fees; they often offer invaluable travel protections like trip cancellation and interruption insurance, rental car primary coverage and lost luggage reimbursement. Use Experian Boost to see whether these premium travel cards fit within your financial profile.
Foreign transaction fees
Credit cards that don’t charge foreign transaction fees can make international travel cheaper and simpler. By choosing cards without such fees, you’ll avoid needing to convert currencies in advance and ATM withdrawal fees – not to mention earning rewards like cash back or airline miles with each purchase! Plus, having one with no fraudulent liability coverage reduces theft or fraud risk!
Numerous cards waive foreign transaction fees as an attractive cardmember benefit, while certain checking accounts offer foreign transaction-free debit card cash withdrawals. Before traveling overseas, make sure you inquire with both your bank or credit-card company on its fees and charges; banks typically display these in separate line items on your statement so you can easily see them. Some cards even provide robust protections such as insurance against lost or stolen items as well as protections against travel delays and other inconveniences.
Rewards
There are a range of rewards cards that offer lucrative travel perks, from cash back cards to co-branded airline and hotel cards. To maximize the benefit from these cards, paying in local currency as much as possible is ideal and will help avoid foreign transaction fees while taking full advantage of card benefits. Many credit card issuers provide convenient ways of notifying them that you will be traveling abroad to prevent your account being flagged as suspicious due to activity occurring in an unfamiliar region.
Some premium travel cards, like the Chase Sapphire Reserve(r) and American Express Platinum Card(r), waive foreign transaction fees as an attractive cardholder benefit. Paying in local currency when possible and tracking purchases can help minimize these charges incurred when spending abroad. Furthermore, travel cards offer points for all types of purchases like hotel rooms, airfare tickets and dining; in addition, some even come equipped with insurance protection features!
