Languages: English Hindi

Should You Carry a Credit Card When You Travel?

Are you taking a trip abroad? Are you confused whether you should carry your credit card or not? Read this article to answer all of those questions.

“Main udna chahta hoon, daudna chahta hoon, girna bhi chahta tu; bas rukna nahi chahta.”

Ours is a generation that loves to travel. We love to go visit different countries, meet various new people, explore diverse cultures, and in all of this- discover ourselves. As a generation, we have realized the importance of gathering new and varied experiences. When compared to our parents, the generation of millennials seems keener to travel and explore the world.

When travelling, it is very important to manage your finances carefully. Doing so will allow you make the most of your trip. One of the frequently asked questions people have before travelling abroad, is whether or not they should carry a credit card.

A credit card is a thin electronic plastic slab, which allows you to make payments for goods and services. Banks lend money to customers, and expect to be repaid the principal amount, in a specified period of time. Along with the principal amount, customers are also required to pay interest on the money borrowed, as well as some additional agreed upon charges.

Given below are tips, that you should remember about using credit cards in a foreign country, before you embark on your journey.

1. Take a Credit Card that is widely Accepted All Around the World

Retailers and restaurants in certain countries accept only a limited number of credit cards. If yours doesn’t make the cut, it could pose problem in a foreign country. For this reason, it is beneficial to carry a credit card which is widely accepted all around the world. Visa and Mastercard are perhaps the two most popular ones around the world.

2. Have More than 1 Credit Card

If your credit card is not accepted at some place, or if it gets declined for some reason- it is always a safe bet to carry two or more cards. So, even if one card gets declined you will have a back up card to use. Additionally, different cards can get you different discounts. So, you will have more options to avail discounts, and thereby save money.

3. Inform the Card Issuer that you’re Travelling

It is extremely important that you remember to inform your bank or your card issuer that you will be travelling. One of the perks of using a credit card is that it is highly trackable. In case of any apparent fraudulent activity using your card, you are informed by the bank. If you fail to inform your bank that you are travelling, they will consider a foreign transaction as fraud, and the transaction won’t go through.

4. Avail the Perks

When travelling, you can avail various discounts on brands, airlines, and restaurants. There are multiple offers from hotels that tie-up with banks, that help customers book rooms at cheaper rates. All these transactions also help you accumulate points, which you can you can use later. Owning credit cards of certain banks also makes you eligible to use lounges at airports.

5. Be Careful of Transaction Fees

Customers need to be mindful of the transaction fees charged on their cards while making a purchase. Charges as high as 3% can be charged on each purchase made in a foreign country using their credit card. One should ensure that they carry with them cards which don’t charge any transaction fees.

6. Always Carry Some Cash

In any country, the most reliable form of payment continues to be cash. Many small establishments do not accept card payments, in this case it is imperative that you carry cash. In certain countries, there also exists the risk credit card or counterfeiting the card itself. In this situation, instead of facing this risk, it is smarter to make a cash payment.

Therefore, we can conclude that it is very important to carry, not one but more than one credit card when you travel abroad. You should try to avoid the transaction fees, and make maximum utilization of the benefits offered to you via the card.

Related Articles:

Are you a student? Here’s a credit card for you

Why you should get a credit card in your early 20s?

5 Types of Credit Card Users

Click here to compare different credit cards.


Tags: , ,

Contact us:

हमसे संपर्क करें :