Traveling with Credit Cards: What you Need to Know

As you make travel plans this summer, be sure to pack the
plastic. Credit cards are a convenient tool to finance your
trip. To make the most of them, it's best to keep a few
factors in mind. Here's what you need to know before you go.

Plan Ahead

As you prepare for the trip, take a look at the credit
cards you have. If you plan to travel abroad, consider
carrying cards that are widely accepted, such as Visa or
MasterCard. Taking along two credit cards is wise; this
way, if one of the cards is not accepted, you have a backup.

Most credit card companies and issuers charge fees for
international purchases. This expense, which covers the
fees incurred for currency conversion, is usually 2-3% of
the purchase amount. To find out how much you will be
charged, call your credit card company and ask before you
leave. In most cases, the fees you will have to pay will be
less than what you would spend exchanging dollars or
cashing in traveler's checks. This is because when you use
a credit card, you usually receive the best exchange rate
available.

A common problem for those traveling abroad involves
purchases being blocked. This occurs because the
international activity sets off a fraud alarm. For your
safety, the credit card company does not allow the
transaction. To avoid this potential dilemma, inform the
company of your travel plans before you leave. They can
make a note on your account that allows foreign
transactions to go through.

Finally, before you travel, send an email to yourself.
Include the toll-free number for customer service at the
credit card company. This way, if the card gets lost or
stolen, you can access your email and call the company
immediately to stop any account activity. Be a Smart
Traveler Even after proper planning, you will still want to
be careful when traveling with credit cards. Make sure all
purchase transactions are done in your presence. Most
restaurants and hotels will process the card in a public
place in order to avoid fraudulent activity. Pay with cash
if you have any doubts.

If the credit card transaction does not go through, call
the company right away. Occasionally, a purchase will be
blocked for security reasons, even after informing the
company of your trip. If you speak with a representative,
the hold can be released on the card. This can be done
within a few minutes, allowing you to make the purchase.

Should your card get lost or stolen, report it immediately.
You will only be responsible for up to $50 in unauthorized
purchases. In some cases, you won't have to pay anything.

If you need to, you can use the credit card for cash
advances. But remember that fees for these transactions can
add up fast. If you will be unable to pay off the advance
quickly, you may want to look into a different plan.

By preparing properly and taking safety precautions, you
can travel easily with a credit card. They are more
convenient than traveler's checks. And they offer you more
protection than cash, which disappears if it gets stolen.
By using a credit card, you can enjoy the many benefits of
carrying plastic on your trip.

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