An assured source of cash when traveling abroad is essential for your peace of mind. You want assurance that you are not getting stuck anywhere because you have run out of money or that you can't access some services because your credit card is not accepted.
Well, here is a simple guide with critical information about using your credit card abroad.
Can You Use Your Credit Card Abroad?
Once you are used to using your credit card for all your purposes, the thought of having to revert to cash when traveling abroad can be unsettling. Well, you don't have to worry; several destinations in the world accepts credit cards. The widely accepted ones are the best credit cards to build credit as you get to use it all the time.
Research about your destination to determine the types of cards accepted and the kind of services you will access. Also, keep safe by carrying along with you some extra cash.
Factors to Consider when Using Credit Cards Abroad
- Foreign Transactions Fee
While most people don’t give it enough thought, transaction fees are expenses that can quickly drain your balance. You are better off using a credit card that doesn’t charge any transaction fees.
- Travel Bonuses
Some credit cards come with travel bonuses like access to exclusive lounges, travel insurance, and other airport services. Confirm all the gifts that come with your credit card and utilize them fully.
- Fraud Protection
While fraud protection is put in place to protect you, it can easily hinder your ability to use money abroad. Your bank is likely to block the card if it notices transactions in foreign lands. To avoid any inconvenience, inform your bank of your intention to travel.
- Customer Service
There is a possibility of losing your credit card when abroad. You are, therefore, better off with a bank that provides exceptional customer service to user concerns in foreign countries. This ensures fast solutions in case of any mishap. Your bank should have a dedicated contact number for abroad-related credit card issues, offer express shipping in case of card replacement, among other services.
Can You Withdraw Cash from an ATM using your Credit Card Abroad?
Withdrawing money from an ATM is your best option when you run out of cash abroad. Most of the widely accepted credit cards support withdrawal from the ATM. The only concern is that you might incur considerably higher withdrawal fees.
Even though the withdrawal is acceptable, limit the ATM withdrawals to avoid any additional costs.
Should You Use Local Currency in Transactions
Prompted to use either the local or your original currency during transactions, go for the local currency. It helps you avoid currency conversion costs.
Bottom Line
With this information, you don't have to worry about getting stranded abroad due to a lack of cash. Feel free to use your credit card while looking for ways to avoid additional costs. Remember to keep your card safe always.
