When you’re abroad you can be easily wasting money because you don’t know about travel tricks. Every wrong move or buy can cost you extra so it’s highly important to know how to use your card wisely get good rates each time you go abroad. Just having the right card is not enough. There are additional tools and tricks you can use and stay on top of your finances everywhere.
Spend Right to Avoid Paying Extra
You want to pay only for items you purchase, don’t you? But overseas you can be easily paying not only for things you buy but also for the payment process. Use Travel Money Comparison to compare how much spending $1000 can cost you. There can be an impressive difference, so the best thing you can do is to choose the cheapest option like special travel credit cards. Get such card and use it when you travel abroad.
Choose the Best Travel Credit Card
Many companies provide special credit cards intended for using abroad. Pay special attention to those which don’t add a dollar exchange fee: most likely their rates are quite low. Remember that you can always lower an APR by paying an amount in full. Make a research and look for the best travel card for yourself. Then use travel card eligibility calculator to see your chances for every option.
Pay Attention to the Following Factors
However, getting a credit card isn’t a good option for everyone. For example, if you have a bad credit then obtaining one isn’t your best option. In this case you can consider installment loans for bad credit consumers – to cover your expenses overseas. Also, it’s better to not apply for a credit card if you’re not ready to pay the borrowed amount in full every month.
Use Comparison Tools if Need Cash
If you need cash then the best thing you can do is to check rates from online bureaus to know for sure how much money you’ll get after paying all the charges. In case you use a credit card to pay a bureau, it counts like a withdrawal so an interest rate and a fee are still charged. To avoid them, use a debit card or pay with cash. Obtaining cash is the best choice if you want suit your budget and you have the right place to keep the money in.
Consider Prepaid Travel Cards
Prepaid cards will suit you if you have a budget you need to stick and if you want a fix interest rate. Also, in case you lose your prepaid card, your money is still protected. However, there are services and things which can’t be paid with such cards. For example, if you need a car service or pay-at-pump station, you can’t pay there with your prepaid card.
Get Cheapest Debit Card
You may want to travel without your credit card – and get a debit one. Switching a bank is always a big deal which can cost you extra money. That’s why it’s better to look up for the cheapest credit/debit card for travel expenses available in your bank. If you want a special debit card and all you want to freely spend money during your trip, pay attention to those with no ATM fees. But keep in mind that in most occasions there’s a minimal amount you have to put on a card.
Why Debit Card Can Be a Bad Idea
Many of debit cards have ATM fees and additional fees and that means that you pay some fix amount each time you use a debit card. Isn’t it silly that you have to pay money to spend your funds? So before making a decision to use a debit card, check all the conditions and fees to make sure you have a good one. Some credit cards (if you repay in full) are much better for using abroad!
Better Chose Local Currency
For example, if you’re in Europe, always choose transactions in euros. When an overseas bank converts the money, rates can be very high and such transactions can be very expensive. That’s why it’s better to choose local currency. Also, don’t change your money last minute, when you’re already in the airport. Try to take care of it earlier to get better changing rate or find top rates bureaus once you reached your destination.
Use these tricks – and you’ll save a lot of money abroad. Take your time and make a research to find the best credit products. Remember, that you not only have to pack your bags but also get your finances ready for the trip!