The days of travelling without a credit care are long gone. Nowadays, almost every town or city in the world accepts card payments. Most of them don’t even need you to type in a PIN number. Plus, cash and travellers’ cheques are a security risk. Anyone who wants to globetrot around the world safely needs a piece of plastic in the back pocket just in case.
As friendly as a Visa or MasterCard can be, they are dangerous too. One wrong move and you might pay for it for the rest of your life. That, by the way, isn’t a metaphorical statement. Below are four tips to help travellers use a card to their advantage.
Tailor It To Your Lifestyle
There is a temptation to choose the card which has the best promotion. Zero interest for two years is cool as is 0% on balance transfers, but do they impact your life? If the answer is no, then you should consider what does affect. For instance, travellers love to leave the country and explore new places and cultures. Therefore, using the card abroad as at home – i.e. no handling charges – is a wiser option. The same is true of one which offers rewards on flights and allows you to rack up air miles.
Take Only One
The more you take, the bigger the chance of accruing additional debt. And, the terrible thing about this is that it’s unnecessary. Travellers hardly splash the cash because they have to; they do it because they want to. The only difference is that a lack of money stops most people from going on an excursion or staying in a hotel. Once you’ve picked your weapon of choice, leave the others behind. If there are remaining balances, then check out https://debtconsolidation.loans/credit-card-consolidation/. Consolidating credit cards makes it easier to avoid penalties and late payments.
Avoid Dynamic Conversions
Http://www.thisismoney.co.uk/ isn’t keen on dynamic currency conversions. Anyone wondering what they are can head to the link for more info. In a nutshell, however, it’s when a foreign bank offers to change local currency into pounds. Oh, but that’s great, right? It’s ever-so-handy! True, but it isn’t cheap because the exchange rates are worse than what your credit card company charges. If in doubt, simply head to https://www.xe.com and download the app. By comparing amounts, you can save a fortune and avoid complicated mathematics. Where there is a will, there is an application!
Don’t Rely On It
In the intro, this post noted why a credit card is a great idea for a traveller. In short, it’s a contingency plan. But, this also makes it a foe as well as a friend. By relying on it too much, you overuse the card and lose the backup plan. Then, when you’re up a creek without a paddle, there will be nowhere to turn. Thankfully, cash and travellers’ cheques can get you out of the worst situations abroad. A great tip is to take dollars because they are accepted around the globe.
How do you use a credit card abroad? Is it a help or a hindrance?
*This is a collaborative post. For further information please refer to my disclosure page.