Using your credit cards when traveling abroad can be an overwhelming experience. Unfortunately, many travelers end up paying obscene amounts of surcharges and currency conversion charges. You need to choose a credit card that is designed especially for international use.
Ask your credit card company about the charges that will be levied if you buy something in another currency. Also, remember to inform the company before you leave. You do not want a situation where the credit card does not work when you are in another country. Before you charge something, ask the merchant whether or not he plans to do a dynamic currency conversion (DCC). In such a transaction, the credit-card processor converts the currency and charges you in dollars. This is an addition to the charge that the credit card company levies.
It is best to get a debit-cum-ATM card, when traveling abroad. Check your network’s ATM locator to see that there are ATM’s available where you are going. Usually, there is a surcharge for withdrawing money in another currency. Check how much you will be charged before you leave. It may be better to withdraw a larger amount in one go, to avoid paying the surcharge each time.
Traveler’s checks are a good way of carrying money. They cost less, and are secure. Keep a record of the traveler’s checks serial numbers with you in a secure place. If they are lost or stolen, you will need these numbers to get a refund. In most cases, you can get a refund within 24 hours. |
