Essential Tips When Using Credit Cards Abroad
It’s convenient to use credit cards when traveling abroad. You also don’t need to worry about counterfeit money or losing cash because of thieves. Even if you lose your credit card abroad, you can easily call your bank back home to cancel it so that no one else can use it. These are some tips to remember if you intend to use your credit card abroad.
Inform your bank that you’re planning to travel to a specific country
Some banks might deny your use of credit cards when deemed suspicious. Using it in another country might be deemed as a suspicious act and could lead to the rejection of the card when used. To solve this issue, you have to inform your bank before you leave that you will use the card in another country within specific dates.
Save your bank’s hotline for credit card cancelation
As soon as you notice that your credit card is missing, you have to inform your bank so that no one will use it. You have to save the hotline of the bank that directs you to an agent who will immediately cancel your credit card. You need to call right away before someone can take advantage of the stolen or lost card.
Always ask for local currency payment
When asked if you want to pay using the local currency or the converted currency, you have to choose the local currency. The rates are terrible when you ask for the conversion on the spot.
Never withdraw cash from an ATM using your credit card
The reason why you use a credit card abroad is for convenience and for you to avoid using cash. Don’t use your credit card for any withdrawals. The charges are extremely high and that’s on top of the terrible conversion rate.
Use debits cards in some instances
When you’re shopping or paying bills in a restaurant, you have to use your credit card. It’s the fastest pay to get things done. It’s also perfect for purchases with warranty. You can always ask for a refund or cancelation when you used your credit card. It’s complicated when you used a debit card. However, if you’re in an establishment that doesn’t accept cards and you have no choice but to withdraw money from an ATM, you have to use a debit card. You won’t face the same charges as credit card withdrawals.
Always bring a little cash
Although it’s a good thing to use a credit card when traveling abroad, it doesn’t hurt to have a little cash with you wherever you go. You need to use cash to pay buses and trains. You also need it to tip waiters in a restaurant. Besides, not all establishments accept cards for payments. If your card gets declined, you can use your cash as a backup payment.
You have to be smart in using your credit card. You also have to be thoughtful in your spending especially if you couldn’t track how much you’ve already spent.
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