Credit Card use Overseas

There are several ways to shop overseas but the most convenient way to shop is by using plastic money. You save yourself the hassle of getting forex or traveler's cheque etc. Just carry your credit card safe and sound in your wallet and you are good to go. But before you start swiping it, keep the following pointers in mind.

  1. Expect fees

    Be careful of the extra fees which may be imposed on your credit card when you use it internationally. Even if your credit card is accepted worldwide they may be some fees which may be imposed. Do remember to check the changes in terms and conditions. Some of these costs are as follows

    • Using an ATM may charge you 2% of the transaction
    • You may be penalised up to $5 in case you happen to withdraw anything more than $100 from an international teller's machine
  2. Let your credit card issuer know your plans

    Do inform your credit card agency about your overseas travel. Failure of doing this may cause blocking your card for security reasons. This is just for safety reason because many times a bank may feel that your card has been lost and for precautionary reason they may end up blocking your card.

  3. Double-check your credit limit and card expiration date

    Always check your credit limit and the date of expiry on your card. If you happen to visit a country whose currency is greater than yours then automatically the limit decreases in terms of that currency

    Stick to one credit card

    It's advisable to stick with one credit card; it makes the situation less complicated and easier to manage

  4. Retain the receipts from your vacation spending

    Do keep all the receipts of your transactions handy. So that you can double check and tally transactions with your credit card statement. If there happens to be any fraud transaction then you can approach the bank and ask for a chargeback

  5. Carry some cash

    It's a wise practice to always carry some cash in times of need. It's a possibility that a merchant may not accept credit card or there may be some technical fault. In such cases cash in hand comes handy

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