Credit cards come with an array of benefits from loyalty rewards and payment convenience to credit buildup. If you are traveling overseas, there are certain precautions to observe when choosing a credit card. According to Nerd Wallet, always choose a credit card with no foreign transactions fees and ensure the card readily accepted everywhere. Try also to use your credit card on as many transactions as possible in order to maximize the rewards.
A good credit card for overseas travel should barely attract foreign transaction fees. Some credit cards charge up to 3% extra fees on transactions. If you are not sure about the charges, check your monthly statements. Credit cards issued by Visa and MasterCard are widely accepted internationally. If you have a different provider, have the card chip and PIN enabled. This will make it easy to use the card in certain overseas restaurants, car parks and shops.
Many compelling arguments have been advanced for having many credit cards when traveling abroad, such as the opportunity to diversify your rewards and have backup credit for emergencies. A case for travelling with no more than one credit card has also been made by various personal finance experts. For starters, you should only carry a credit card based on its value and usage. According to Business Insider, here are 3 benefits of carrying one credit card:
1. Get an opportunity to amplify your rewards and points
Having all your transaction in one card gives you an opportunity to amass as many rewards and points as you could. You can use the points to cover your next free flight or enjoy other trappings included in your credit card such as cash back and miles earning on travel and accommodation.
2. Enjoy lower annual fees
A single credit card means you have just one annual fess to deal with. This makes it easy to organize your finances both locally and when traveling abroad. Tracking the charges accrued on one credit card also makes it easy to balance your rewards and points.
3. You will prioritize where to use your credit card
With one card in your wallet, you have to make a decision on where to use the credit card and the rewards. The two quick options are cash back or travel points. To get the most out of your credit card, start by choosing one that offers maximum benefits based on your lifestyle.
Speak to credit card expert!
The best travel reward credit cards in the market today offer enticing sign up bonus, lower annual fee, miles earnings, cash-back earnings and no foreign transaction fees. The other benefits to look for include credit car rental insurance and Uber credit. Alamo Associates is a leading personal finance and credit consultancy with a friendly team of experts. If you are an individual or corporation caught up in debt and want to know more about low interest rate credit card, call the toll-free number 1-800-220-0581 and speak to an Alamo Associates debt consultant