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Take two credit cards and keep them in separate places, in case your wallet is lost or stolen. Here are some other steps you should take before hopping on a plane: “Make sure to let the card issuers know the dates you will be traveling and the countries you’ll be visiting to prevent any false alarm over suspected fraud,” said Steele. This ensures your card company knows your transactions are authorized and not fraudulent. Although card issuers no longer require you to inform them when you’re traveling abroad, many experts recommend taking this step as a precaution. And if you’re going to use a credit card - even one with no foreign transaction fees - you’ll want to let your card issuer know you’ll be out of the US. “Before taking off for a trip, make sure that you have a debit card to access cash at an ATM, which is the easiest and least expensive way to access your money abroad,” Steele said. In addition to using a card with no foreign transaction fees to eliminate unnecessary fees each time you swipe, there are some other ways you should prepare for a trip out of the country. International travel can be complicated if you don’t take a few extra steps to minimize the cost of spending money while abroad. Tips for using a credit card when traveling internationally Traveling perks: With the right travel credit card, you’ll not only benefit from its standard base rewards structure, but some top-tier rewards cards offer other benefits, like trip insurance, boosted travel rewards, TSA PreCheck or Global Entry credits, airport lounge access and more. The rewards you earn while traveling may be helpful toward your next trip. Make sure you choose a credit card that complements your spending habits, so you don’t have to make adjustments or juggle more than one card on your trip. Rewards: If you’re using your credit card abroad, you may benefit from earning in your rewards categories - such as dining, gas and entertainment. Annual fees can range from $0 to hundreds of dollars, so it’s important to weigh whether or not a card’s rewards and benefits provide enough value to justify its cost. These cards usually come with statement credits, welcome bonuses, discounts and complimentary memberships to offset the charge. Annual fees: Credit cards that offer more premium perks generally have an annual fee, but often forgo foreign transaction fees. Before opening a credit card with no foreign transaction fees, compare all of your options and watch for other fees you might incur. Many travel credit cards do not charge foreign transaction fees, but the list of potential fees won’t stop there. #Chase sapphire international transaction fee how to
How to choose the right credit card with no foreign transaction fees And these fees can add up quickly during a getaway.įor example, if you use a credit card that charges foreign transaction fees to pay for a $40 dinner abroad, you’ll pay between 80 cents and $2 more, depending on your card’s foreign transaction fee rate. Depending on which currency you make a purchase in, this fee may increase or decrease. Foreign transaction fees generally cost between 2% and 5% of each transaction, but 3% is standard. Visit to learn moreĪ foreign transaction fee is a fee charged by a credit card issuer or bank for purchases made outside of the US. Enrollment may be required for select American Express benefits and offers. Terms apply to American Express benefits and offers. Even if you’re only traveling outside the country occasionally, having this type of card handy can be worthwhile. Many of the best rewards and travel credit cards don’t charge foreign transaction fees and might be a good fit for your wallet for purchases made in and outside the US. “If you are going to be spending any significant time outside of the United States, then you should always have a card with no foreign transaction fee.” It’s important to remember that these fees offer no value to you, and should always be avoided,” said Jason Steele, a credit card industry expert. “Foreign transaction fees add a completely unnecessary surcharge to all of your purchases. But you can avoid these fees by using a credit card without foreign transaction fees. If your credit card charges a foreign transaction fee, it will typically cost you between 2% and 5% of the purchase amount.
Plus, you may earn rewards on every purchase. A credit card can come in handy when traveling abroad, offering fraud and purchase protections, while saving you from carrying cash or converting to the local currency. But you might not plan for foreign transaction fees from your credit card - a charge that can add up quickly. Budgeting for an international trip typically involves setting aside money for food, sightseeing, lodging and transportation.
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