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Wednesday, 28 March 2018

Travel: 4 Tips for Using Credit Cards Overseas

Tourism, as we all know, can be rather expensive. When preparing for backpacking through Europe or jetting off to tour Africa, most people find themselves in a dilemma on how to pay for their expenses. And whether you realise it or not, most of your travel expenses are incurred through merchant transactions in the country you’re visiting. 

So what’s the best way to pay off these merchants? Is it maybe cash? Or is it traveller’s check? Is it a credit card perhaps? In our opinion, using a credit card for all of your expenses can significantly simplify international travel. However, the simple act of using a credit card won’t make your spending cheaper. You should follow the tips we have bellow in order to save up some money:

  1. Pick Your Credit Card Carefully 

Before you even board the plane, you have to realize that some companies out there have hidden fees that may increase your expenses considerably. That’s why you need to stop and read the fine print. Keep in mind, best credit card processing companies don’t actually charge a fee for foreign transactions. So if you’re a frequent traveler, these companies can save you hundreds – or maybe even thousands – of dollars or pounds annually.  

  1. Let the Company Know You’re Traveling 

This is so important. You need to notify the credit card company or the bank that you’re planning to travel to a certain country. Unexpected purchases abroad are a huge red flag for credit card fraud and in most cases, a credit company will restrict the card when these purchases occur. By letting your credit card company know where you’re going, you’ll ensure that everything goes smoothly.  

  1. Limit the Number of Cards 

The more cards you carry along for the trip, the more chances you have to overspend. By doing this, you risk not paying one of your credit bills on time. This can have a negative effect on your credit report and impact your reputation. Limiting the number of cards on your trip will help you be me responsible with your money.  

  1. Keep Track of Your Spending  

Like we said above, bring just one or two cards along and keep your spending in check with a log of all of your travel purchases. You shouldn’t whip out your card to pay for everything along the way. Spend within your credit limits and always keep a percentage of your money on the card, just for emergencies. Also, keep a receipt for every purchase you make and check your account from time to time to ensure that all credit card activities are yours.  

Final Thoughts 

Since most of us are basically connected 24/7 you have to be aware that there are dangers lurking behind every corner online. Therefore, it’s important to monitor your credit card activities at all times. This will decrease the chances of identity theft occurring. 

When it’s all said and done, if you’re planning to go abroad, you have to prepare the right spending vehicles. This helps you manage probably the most important aspect of your financial situation – your personal credit reputation.  

Enjoy your travels!

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