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Do’s And Don’ts When Traveling With Credit Cards

Do’s And Don’ts When Traveling With Credit Cards

It’s best to know how to use a credit card before applying for one. This helps users avoid high interest rates, late fees and stolen credit cards. Unfortunately, using one can be a double-edged sword – while it may help with finances and boost credit scores, having one can easily damage the financial stability we so heavily rely on. By knowing how to use a credit card beneficially we do not have to dread monthly statements. When it comes to traveling there are a few things to learn and to avoid as to not put ourselves or our loved ones in any dangerous situation.

While traveling, it’s best not to use credit cards for everyday purchases. Avoid using them for gas or food as expenses can add up and hike up monthly statements. A great way to avoid spending too much is by not having the card with you when you are likely to make basic purchases.  It’s often that when we are traveling we are more likely to buy things that we cannot afford. This is dangerous because it is an easy way to go into debt. Go shopping with the state of mind that if you cannot purchase the item now with cash, it is likely that you won’t be able to buy it a few weeks from now. Also, think about whether or not you need the item versus want the item. By learning how to use a credit card the right way cardholders can recognize whether or not it is a want or necessity before the purchase is made.

One of the best ways to protect your identity and money is by notifying the cardholder that you will be going out of town. Most card issuers have software that can identify whether or not the activity is fraudulent. By providing the issuer with traveling information and giving them a ‘heads-up’ it will make them aware of your location and remind them to monitor spending activity. If there are any outrageous purchases or items that are made in a different location it is an immediate red flag to the issuer. This will help users avoid having to wait for the company to look into the situation to verify whether or not it is, indeed, fraudulent.

There are many credit cards that offer traveling perks and rewards. If you are buying something expensive such as an airline ticket or rental car it’s worth looking into the issuer to see whether or not you can benefit from using the card to make the purchase. A great way to make sure that you are not the victim of identity theft is by keeping all of your cards in different places. This will ensure that you have various payment methods to use in case your wallet is, in fact, stolen. It’s also a great idea to make a copy of your identification cards for safety and traveling purposes.

Ensure that you limit the withdrawals you make at foreign ATM machines. It’s likely that travelers go to various locations and use different ATMs. Keep in mind that the places that you withdrawal money from might not be within your network. The charges to pull money out can be much greater than those of your local ATM. Before leaving for your destination, search for a business that allows you to pull cash out without the high fees to avoid unnecessary charges. (It’s also wise to ask about currency conversion fees before arriving at your traveling destination.)

Do’s And Don’ts When Traveling With Credit Cards Credit Picture License: Images_of_Money via photopin cc

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