Travelling Abroad? These 5 Credit Card Tips May Come In Handy

Indians are fast evolving into global nomads. But that kind of lifestyle requires people to attune themselves to new security issues, especially when it comes to credit card usage. Following are the top 5 tips to keep in mind when you are travelling abroad.

Inform the card issuer: If you are travelling abroad, call your card company and inform them about your travel plans and dates. If a transaction takes place at location/s other than those you have informed, the credit card company will notify you about the transaction and will block your card in case that is required.

Get to know the charges: While travelling abroad, you will be paying in foreign currency. In such cases, some credit card companies charge transaction fees, conversion charges and corresponding service taxes. It is important for you to know these charges as the actual cost of shopping/other transactions could go up when these are added to your bills. At times, you may find it cheaper to pay by local currency.

Upgrade your credit card: Currently, credit card companies are offering cards with an in-built security chip. Ensure your card has this security feature to prevent frauds.

Ask merchants to charge you locally: When you swipe your card at a foreign location, let the merchant charge you in local currency. Merchants often insist that you should pay in dollar as this gives them the opportunity to charge forex rates at random.

Carry local currency: Avoid credit card usage as much as possible. Instead, carry foreign currency and use them while shopping/paying bills. This is a safer way to transact.

Rajiv Raj is the Director and Co-Founder of www.creditvidya.com
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