When traveling to a foreign country, spending with a credit card can be a little different than simply making purchases domestically. First you have to factor in the differences in currency to try and determine what you are actually spending in your own currency. Other times you might find fees where you are paying simply for the convenience of using your credit card in another country. In a few cases you may not even notice a difference in using your card while traveling versus at home, but it is always best to be informed and prepared.
Consider these tips for using your credit cards in a foreign country so you can avoid shellshock and any unplanned financial situations.
Let your credit card company know you will be traveling. This can be helpful to ensure your issuer does not put a hold on your account for unusual spending or atypical purchase locations.â¨
Be cautious with your card. Even if you are on vacation, relaxing, and having a good time, be vigilant that your credit card is returned to you promptly every time after making a purchase.â¨
Find out what the exchange rate will be. If you can call your credit card company to discuss the exchange rate, it will be helpful to you so you know if it is worth using your credit card for certain purchases or if you are better off using cash.â¨
Check your credit card statement when you get home. It is always better to resolve issues as soon as possible rather than waiting till a lot of time passes. Review your statement to confirm the exchange rate and ensure no unauthorized purchases appear.
You should also consider using a credit card that offers travel based reward points to maximize the value of your spending. Donât forget to redeem rewards points if you have any available.