Top 5 credit card rules to follow when travelling abroad
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Transcript of Top 5 credit card rules to follow when travelling abroad
Travelling around the world canbe an exciting time. However ifyou are not careful with yourcredit card use, your trip can digyou into deep money trouble.Follow these 5 rules to keepyour money safe.
TOP 5 CREDIT CARDRULES TO FOLLOWWHEN TRAVELLINGABROAD
An international shopping couldcost you a lot more than youthink if a wrong credit card isused. Most cards will charge a 1to 3 % transaction fee for eachshopping made overseas. If youend up charging your credit cardfor hotel, food, shopping,transportation and events, thatcan easily add up to hundredsof dollars in overseastransaction fees alone.
USE CARDS WITHNO OVERSEASTRANSACTION FEES
SET UP SPENDINGALERTS
No one wants to think about fraud and identitytheft while they are on vacation, but it is a goodidea to check over your purchases and to trackit daily. Sign up for spending alerts so you get
an email or text for each purchase
BRING MULTIPLE CREDIT CARDS
Do not rely on a single credit card for yourtrip. Allow yourself a backupIt is a good idea to vary your cards tooFor example, do not make them all visacards. Try to have a MasterCard or AmericanExpress so that you will have another to fallback on in case of an issue
Do not use credit card for cashwithdrawals at ATM's at it will beprocessed as a cash advance.Cash advances come with higherAnnual Percentage Rate andinterest starts accruingimmediately. It is not wise touse cash advances at homecountry and abroad.
AVOID ATMMACHINES
SAY NO TO DEBIT CARDS
A credit card will be safer to use overseas than a debit card. It would be
horrible to charge your debit card at an overseas boutique shop, only to
have your funds drained from card theft. Upgrade your credit card with
new chip technology that reduces fraud and identity theft