TRAVEL CREDIT CARDS
What Is A Travel Credit Card?
Travel Credit Cards unlike most other credit cards don’t charge or have a low charge for using them abroad. Most credit cards when used abroad will charge a high fee for each transaction and so if you are a frequent traveler it is wise to get a special travel credit card to avoid racking up unnecessary charges when travelling. Shop around and look for the card with the lowest fee or you might even find a card that charges nothing at all for foreign usage.
The benefit to getting one of these cards over just taking cash is that these cards are a lot safer. Not only do you not need to carry a load of cash around if you have one of these cards but you are also protected under the same regulation as if you were using a normal credit card in the UK meaning you can normally get your money back for a faulty purchase.
Make sure to check with the supplier as there may be different % charges on purchases and withdrawing cash. You will also be at the mercy of the exchange rate at that time as well but this is difficult to avoid unless you study the exchange rates in the month beforehand and take out a load of cash. The best solution is often a mixture of local currency and a travel credit card with the lowest interest rate.
Benefits & Disadvantages
✅ Can be used in multiple locations around the world.
✅ Cheaper to use abroad than standard credit cards.
✅ Safer than using cash as purchases are protected.
❌ You still may be charged a fee for withdrawing cash from an ATM while abroad.
❌ Make sure to check if your supplier is accepted where you are travelling as they won’t be everywhere.