Whether you’re traveling abroad as a college student or headed on a European family vacation, using an international credit card is one of the easiest ways to make purchases overseas since you don’t have carry cash. Here are some tips to keep in mind when traveling abroad that will keep your international credit card safe and spending at a minimum: · Before leaving for your destination, make photo copies of your credit card (along with other important documents) in case the card is lost or stolen so you can quickly cancel it. · Find out the foreign exchange rate of your credit card issuer before you swipe the card abroad. Most credit cards charge an exchange rate between 1.5 and 3 percent on every transaction. While it may not seem like much, the cost of foreign exchange rates can really add up since they are charged every time you use your international credit card. To reduce those costs, consider switching to a credit card company that has a lower exchange rate or use a different method of payment on smaller purchases. · If you have Internet access, check your statements regularly online to make sure you were charged the correct amount on each transaction and no fraudulent purchases have been made. · Notify your credit card company of your travel plans before you leave. If you don’t, the credit card company may suspect fraud and freeze the account, leaving you without access to your credit card account. · Never write down your credit card information and shred any receipts that may have your information listed. Keep the photo copies of your international credit card locked in the hotel safe or another protected location.
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