If you’re travelling overseas, having the appropriate credit card in your wallet is key to an enjoyable trip. A card that waives foreign transaction fees and earns travel rewards as well as purchase and trip protection could come in handy during your adventure.
Know about currency exchange fees, airline perks and any relevant protections before traveling.
Cost
One of the lesser-considered costs of travel abroad are foreign transaction fees. At an average 3% per purchase, these charges quickly add up; to reduce them further and save money, opt for a credit card that does not charge these fees.
Certain cards, including travel rewards cards, offer no foreign transaction fees and make an excellent choice for overseas trips. Plus, these cards can help you earn cash back, airline miles, hotel points or other rewarding perks with each dollar spent!
Credit cards designed specifically for international travelers often come equipped with benefits like purchase protection and fraud alerts that make the annual fee worth it for some cardholders, particularly when planning an expensive vacation. Before making your choice, however, be sure to carefully evaluate all costs and benefits associated with each particular card before making a decision.
Convenience
Applying for an international credit card can offer convenience when traveling overseas, without needing to carry large bills around with you. Plus, rewards like cash back or points may be earned on purchases made. Plus, credit cards often provide protections you won’t find with cash transactions like purchase protection and trip cancellation policies.
Check your card for any foreign transaction fees; these are added onto each purchase made in a foreign country and can quickly add up. Ideally, look for travel rewards cards which do not incur such charges.
Notify your card issuer of when and where you’re traveling, either through online travel notification submissions or calling their customer support number. This may prevent your card being declined in case of suspicious activity.
Security
Many credit cards provide attractive rewards and travel protections, such as earning points on every purchase that can later be applied toward trips. Some also feature chip and PIN technology which is more secure than magstripe cards.
Bringing your chip and PIN card on an overseas trip? Be sure to notify the credit card issuer beforehand in order to avoid them denying transactions when in a foreign country. Furthermore, avoid using it at Internet cafes where criminals could use key loggers to gain access and steal your information.
Make copies of all important documents and leave them with friends or family members. Inspect all gadgets for apps you no longer require – particularly your phone – which could pose a potential threat.
Currency exchange fees
Travelers seeking to visit foreign countries will benefit from having a credit card that does not charge foreign transaction fees, which typically amount to 3-4% of purchase prices and can quickly add up. Many top travel rewards cards waive these fees so travelers can save money when away from home.
As another factor, some businesses catering to tourists offer them the choice to pay either in local currency or U.S. dollars; such transactions involve dynamic currency conversion and typically do not favor consumers.
If you want to avoid these charges, it may be beneficial to apply for a credit card without annual or foreign transaction fees before embarking on your trip. Notifying your card issuer of your travel plans also helps avoid instances in which suspicious activity could flag purchases made with it and freeze your account.
Rewards
To maximize credit card rewards, it’s essential that you select the appropriate card for your travel needs. From airline cards with bonus miles and hotels points, cash back options or travel rewards like Global Entry/TSA PreCheck memberships; there are many cards designed specifically to fit travel spending habits and preferences. When looking for the ideal travel card it’s essential that it waives foreign transaction fees as well as offering high rewards when spent internationally – this ensures maximum returns! The top travel cards also waive foreign transaction fees; offer high value rewards when international spending; or provide added perks like Global Entry/TSA PreCheck memberships among many others!
Other rewards cards provide a flat rate of points per dollar spent, which can be redeemed for travel or merchandise. They also come with consumer protection features like extended return periods and price protection; many also feature annual fees which may be offset with sign-up bonuses and great rewards rates.
