Credit Cards on Holiday
A time when credit card are especially useful is when you’re travelling. If you’re going away on business, credit card make it easy to track your expenditure so you can claim expenses and tax-back. If you’re travelling on a vacation a credit card is often necessary to book hotels and car hire, and you may be able to get a better exchange rate when you change currency.
But you’ve still got to be careful. Here are some tips for a smooth journey with your credit card:
Better Safe than Sorry…
Make sure you have your card cancellation phone numbers written down and stowed somewhere about your person when you are travelling. If the worst case scenario happens and your card is stolen, you’ll be able to sort it out as soon as possible.
Spread the Load
If you’re travelling with your partner or family members, it’s a good idea to have your credit card on different accounts. This is because all cards on an account will be cancelled if one is stolen or lost.
Make Note of Your Card Use
Save all your receipts and keep track of where you used your card. You can check these against your credit card statement when you get home to make sure that no suspicious transactions have been made.
Beware of Extra Fees
Lots of banks charge a conversion fee on transactions made abroad, usually 1% of the purchase amount. Make sure you check with your credit card provider before you travel so you won’t get any nasty surprises when you see your statement.