Credit cards offer many valuable benefits, one of the greatest being the convenience and safety they offer when you travel, as they’re widely accepted around the world.
If you’re intending to travel abroad and don’t yet own a credit card, it’s well worth applying for one. Not only will you benefit from one of the easiest payment methods available, but you’ll also have the added security of a line of credit, wherever in the world you may be.
Continue reading to learn more about the advantages of using your credit card when you travel.
Benefits of using a credit card when travelling
If you’re already a credit card holder, the first benefit you’re likely to enjoy, before you’ve even left for your trip, is free travel insurance. Most credit cards offer free travel insurance when you use them to pay for your air tickets in full.
This valuable benefit ensures that you’ll be adequately covered as you travel through South Africa or to any destination abroad in the event of a travel-related accident or medical expense. The specific accidents or occurrences covered will differ from card to card, so it’s best chat to you bank about the type of travel cover you’ll receive with your particular credit card.
Travelling with a credit card also removes the hassle of using travellers cheques abroad. Exchanging travellers cheques can be inconvenient and expensive, particularly on weekends or public holidays, and it’s not always easy to find a bank that is able to exchange them.
Most major credit cards are widely accepted throughout the world, especially those backed by large international companies such as Visa, MasterCard and American Express. This means that whether you’re paying for accommodation, meals, entertainment or various purchases, you’re likely to find credit card facilities at the establishments you visit.
It’s also far safer to carry credit cards than it is to carry cash or travellers cheques. If you lose cash, you cannot replace it. And if you lose travellers cheques, it’s a hassle to have them cancelled and replaced, and it could waste a lot of holiday time.
Most banks offer cardholders the option of having additional credit cards linked to the same account – sometimes at no extra cost. It’s worth getting a second card and giving it to your travel partner, or keeping it separate from your primary card, when you travel. Thus, if your card is lost or stolen on holiday, you can cancel it immediately and you’ll still have the other card as back up.
Things to remember when using your credit card overseas
Find out whether any additional fees will be applicable when you use your credit card overseas. Usually, the merchant will be responsible for the transaction cost when you swipe your card, wherever in the world you may be using it. However, withdrawing cash at an ATM, for example, could be fairly pricey. Knowing what fees to expect will help you to use your card most effectively abroad.
Also, it’s essential that you notify the bank to the fact that you’ll be overseas, especially if you didn’t use your credit card to purchase your air ticket. If your issuer sees transactions being approved in a foreign country, it may regard this as suspicious activity and suspend your account.
Finally, be sure to get your bank’s international phone number in case you need to contact them whilst on holiday.
Plastiq is an online credit card comparison service that showcases a range of leading South African credit cards. Use the site to find and compare credit cards online, including Nedbank credit cards and American Express credit cards.
Obamanomics 101: Borrowing to pay debt isn?t debt-debt?
So I can ignore the interest and payments on my credit card; and so long as I don't spend more on that card I'm good and it won't add more to the card? I don't have to make any payments or cover the interest to stay in "balance"? Go ahead and call MasterCard and tell them your payment plan is the same as the president Obaba plan and see how well that works.
Has anyone in this administration ever had a debt they didn't welsh on? Does a single one of them understand the general concept of how debt works?
I realize asking for them to have a 6th grade understanding of economic principles might be setting my expectations too high; but is there any chance we could get someone who actually understands basic mathematics to help them with the numbers?
Answer
That is the faulty logic being sold to the American people. This administration needs to go back to school and listen to the people. We knowwhat we need and how our counbtry needs to operate. And, it isn't as the socialist nation and nanny state.
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