Credit Cards - Don't Leave Them Home When You Travel Abroad! By Harry Raymond Cowperthwaite At Isnare.com Ezine Articles

If you are going to travel, don't forget to bring your credit cards. Bringing your credit cards with you is especially a must if you are traveling abroad. Before you leave, however, call your banks or credit card issuers and let them know you will be out of the country and using your cards.

Because of the widespread identity theft incidents today, credit card companies are quick to become suspicious of credit card usage and unusual spending patterns. It may be you using your cards but if your credit card issuers aren't aware that you're out of the country, they are likely to flag your foreign purchases as fraudulent and block your cards.

What if you decide to use your cards in Thailand and you live in California? Your credit card issuers will become suspicious of charges originating from Thailand. When you take the time to notify your credit card issuers of your impending travel and intent to use your cards overseas, you save yourself a lot of hassles.

In addition to your ATM or debit card, bring only two credit cards. You don't want to take all of your credit cards with you and risk losing them. Make sure you bring two different types of credit card - one Visa and one MasterCard. This way, you have a backup card if one doesn't work. Most places accept either a Visa or MasterCard or both. While American Express tells you you shouldn't leave home without it, be aware that not a lot of establishments outside the United States take American Express. If you are traveling as a couple, carry different cards with you as doing so gives you more options.

If you are renting a car, be aware that most car rental companies will charge a large amount on your card as a deposit. This leaves you with a smaller credit line. This is another reason you will want to bring another card with you. Make sure that the car rental company charges the card that has the collision damage waiver coverage; you will save money this way.

Most credit card companies today charge international transaction fees. For several years, MasterCard and Visa charged only a 1% transaction fee, but nowadays banks and credit card issuers like Visa and MasterCard are charging up to 3% foreign transaction fees. Before you leave for your trip, call up your bank or credit card issuers find out how much each is charging for foreign transactions. Bring the cards that have the best terms. As of this writing, only Capital One Card charges the lowest fees (1% on foreign transactions) so make sure you take this card with you.

When you're at your destination and using your cards, don't allow the vendors there to charge you in dollars. Make sure they charge you in their currency; otherwise, you may end up paying more and still end up charged a foreign transaction fee.

While credit cards are used widely, be aware that some places still don't accept them as a method of payment. Many of the small B&Bs and hotels, as well as small restaurants, still accept cash as the only method of payment. And if they do accept credit cards, they may add on 3% to 5% to your bill to make up for the fees the credit card companies charge merchants. So be sure you take some cash with you, or have your ATM or debit card handy.

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