travelling outside the country should be a wonderful adventure. With just a little bit of advance planning, you can avoid encountering finance-related stress while relaxing on vacation.- Since the value of a U.S. dollar isn’t as stellar as it once was, you will want to stretch every penny as far as you can while on vacation,which means not paying a fortune in conversion and exchange fees. Most credit cards charge a 3% “foreign transaction fee,” which applies to all charges processed outside of America. In the interest of saving money, it would make sense to consider applying for a credit card long before you travel so you can secure yourself a card with no foreign transactions fees to bring along on your trip.
Chase, Capital One, and Citi are a few of the banks that offer these types of cards. While you do need to carry some cash on you to cover expenses in situations where plastic is not accepted, using a credit card to make purchases while you are abroad – even one with the 3% foreign transaction fee – will always cost you less in the end than exchanging hard currency either at home or overseas; as long as you have your payment processed in the local currency.
– Explore your rewards and find out what perks you are entitled to through your particular card. If you are in the market for a new rewards card to bring with you on vacation, there are many enticing Visa credit card offers out there, as well as offers from other issuers. Sukhi Sahni, a spokesperson for Capital One, advises, “Always check the card’s online shopping portal for online and in-store bonus rewards that can be used for your next vacation or getaway.” A few examples of perks offered through credit cards include luggage and/or car rental insurance and various travel upgrades. Leah Gerstner, a spokesperson at American Express, says, “Really think about more of the hidden benefits.”
– Alerting your credit card company of your travel plans before embarking upon your journey will go a long way toward making sure all your swipes go smoothly while on vacation. Do this even if you are not travelling abroad, but are planning to visit several cities within the United States in a relatively short period of time. Alert your credit card companies especially if you are going to visit countries outside of Western Europe. Charges to your account made from unusual locations can cause your card issuer to suspect fraud, in which case they may freeze your account. One quick call before you jet off to parts unknown can keep your plastic powerful for the duration of your trip.
– Bring an extra card with you to protect yourself against loss or theft. Tuck your back up card into your luggage instead of carrying it around with you so it will be safe and sound, there for you to use in case of an emergency. Squirrel away some cash alongside it and you’re good to go.
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