The Best Credit Card For International Travel
You’ve booked your flight, landed a sweet deal on a hotel and found a neighbor to feed your fish and water your plants. So you’re set to travel abroad, right? Or are you? Do you have the best credit card for international travel in your wallet?
When you travel abroad you want a credit card that delivers the most value for your money. You don’t want a card that charges you extra fees for your overseas transactions.
As an experienced traveler, you know that money exchange centers abroad charge high rates to convert currencies. For this reason, it’s more economical to use an international credit card when traveling overseas.
What you might not know is that not all credit cards offer the same rates for international travel. Many credit card companies charge what’s known as foreign transaction fees for every purchase you make.
When you are shopping for the best credit card for international travel, there are certain criteria you need to know. After all, you don’t want to wind up paying extra fees that you can avoid.
Here are 3 smart tips to help you see the world with the best credit card for international travel.
1. Avoid Credit Cards with Foreign Currency Transaction Fees
What are foreign transaction fees?
Foreign transaction fees are tacked onto your credit card every time you buy products and services outside of the United States.
These fees typically add 3% your bill for every item you purchase. This includes hotel fees, restaurant and bar tabs, shopping, and anything else you buy abroad.
It might not seem like a lot, but they can add up fast. It’s like paying an unnecessary tax. So basically you will pay $300 on every $10,000 you spend.
The good news is not all credit cards charge foreign currency transaction fees.
2. Chip Card Technology Makes The Best Credit Card for International travel
Chip cards are fairly new in the United States, but countries abroad have been using chip card technology for transactions for years. These credit cards are especially popular in Europe as well as other nations worldwide.
Chip cards provide added security to protect consumers against credit card theft and fraud.
These cards contain an embedded microchip on the front of the card as well as an electronic strip used to swipe through a card reader.
Choosing a credit card with a chip is a better choice when you travel, and having a chip card in your wallet will help you bypass any hassles with your payment transactions because most merchants overseas will not accept non-chip credit cards.
3. Choose A Credit Card That Offers Good International Customer Service
In the event that you lose your card while abroad, you will want to speak to a live operator who can assist you.
Make sure your credit card company offers live help in the country where you will be traveling.
Before you leave, don’t forget to activate your card and let your credit card company know you are planning to use the card when you travel abroad.
This will help eliminate any possible inconveniences with charges when you use your card overseas.
When you explore beautiful landscapes and rich cultures in other parts of the world, it’s best you are prepared for an enriching, unforgettable travel experience!
Our company provides consumer education on financial topics, including banking, financing, credit advice, and home and auto financing based on 30 years of expertise in the financial industry.
Visit our website today to learn more.