Many credit cards provide travelers with travel protections such as trip cancellation and interruption coverage, primary collision damage waiver insurance and baggage coverage.
Credit cards tend to be accepted more widely abroad than debit cards and often provide better exchange rates than currency stands and ATMs.
1. Check with your issuer
Credit card companies generally allow customers to set travel notifications in advance, which reduces the likelihood of your purchases being flagged as potentially fraudulent. This is especially important if making large purchases or purchasing something out of the ordinary.
Carry multiple cards when traveling – this way if one gets lost or stolen you have backup options to use immediately.
Some card issuers may impose further restrictions, limiting your usage to specific countries or stores known to accept it. Make sure you contact your card issuer to get up-to-date information on acceptance rates at your destination, and carry some cash with you just in case your preferred credit card doesn’t work there or processing issues arise during your travels. Travelers’ insurance is available with some cards and can protect against theft and currency exchange rate fluctuations – always a good idea when traveling abroad!
2. Contact your credit card company
While on vacation, bills and credit card balances may not be at the forefront of your mind; but you must still remain mindful that charges accumulate without your knowledge – or that additional fees come due when you return home.
Make sure to carry multiple cards for added peace of mind if one becomes lost or stolen; that way, should one be lost or stolen, you’ll still have another available in case the first gets misplaced or lost. Also consider cards offering travel protections like trip cancellation and primary collision damage waivers.
Without prior notification of your travel plans to your credit card company, your card could be identified as fraudulent when suddenly buying shoes on Michigan Avenue in Chicago or croissants on Champs-Elysees in Paris – this can put a damper on any vacation plans! Therefore it’s wise to set a travel notice which typically involves simply logging into your account with them either via their website or app and setting the travel notification feature.
3. Make a list of your expenses
Traveling abroad for work or pleasure? Keeping track of your expenses can be tricky. Credit card balances and fees can quickly mount when dining out or using hotel Wi-Fi to make online purchases, especially with meals or Wi-Fi purchases. As a best practice, Velasquez recommends carrying two major cards so in case one gets lost or stolen you still have another option available to use; additionally it would help limit liability should one become compromised and keeping a travel journal or digital device handy can aid with credit card insurance claims claims.
