Every year Americans take more than 59 million trips abroad. Yet many of us don’t know which questions to ask regarding the use of credit cards. Before you hit the road, let your card issuer know where and when you’ll be traveling, so it doesn’t mistake those overseas charges with fraudulent activity. Start asking some questions below:
Does my card charge a foreign transaction fee? Because these fees can run as high as 3% and can be quite costly.
Does my card have an EMV chip? A smart chip widely used in Europe and other places. Contact your credit card provider and see if they can provide you at no cost a chip-and-PIN card if you don’t already have one. Most of the card companies are moving this way, but typically you have to request it.
Does my card offer any travel perks? You may want to inquire about additional coverage your card may provide you when you’re abroad such as insurance for accidents, lost luggage or auto collision.
How can I get cash overseas? Reach out to the bank or credit card provider and find out what relationships they have in the local market you’re traveling to. This will be helpful for avoiding ATM fees. Additionally, if you need to access cash from your credit card, they’ll be very helpful if you do it through a banking institution that has a relationship with your provider.
Will my card be accepted at my destination? Thirty to sixty days before traveling contact your bank or credit card provider and ask some important questions. Find out if their card is going to be accepted or if there will be any restrictions for it to be used abroad.
The best thing to do is to have a plan before you travel. Know how to minimize your fees and protect your credit cards. Then you can enjoy your adventure.
