With vacation season in full swing, many Americans are worrying more about what SPF to choose than how their finances will work on the road. But keep in mind that taking the time to prepare financially for a trip can help prevent unpleasant headaches when you’re supposed to be relaxing.

As MasterYourCard.com reminds us, credit cards can make traveling much easier—but only if you know what to expect. Here are some tips for traveling with credit cards (and avoiding missteps).

• Know your perks. Many credit cards offer airline mile rewards, purchase insurance, travel insurance, rental insurance and/or fees for foreign transactions. If you have multiple cards, review your contracts and choose the one that best suits your travel needs (and could potentially earn you the most in exchange for the purchases you make).
• Know the fees. If you’re leaving the country, your bank will likely charge fees for foreign transactions or conversions (if you take money out of an ATM). Depending on your bank’s fee structure, it’s likely that the least expensive way to spend is to withdraw large amounts of cash from an ATM so you only have to pay the fee once or twice.
• Call your company before you leave. Most credit card issuers will put a hold on your account if they notice spending in a foreign country, so be sure to call ahead of time with an outline of your plans. This call can also be a good time to ask about fee structures. (Note: even if you’re not leaving the country, it might be a good idea to call your company – sometimes transactions far away from your home base are denied even if they’re within the U.S.)
• Copy down your issuer’s international number. When you’re at home, you can just call the 800 number on the back of your card for assistance, but that call would cost mucho dinero overseas. Check your issuer’s web site for its customer service number where you’re headed.
• Have a second option. While it’s a good idea to use one card for the entire trip (so double-checking your statement for errors is easier), bring a backup card in case your primary card is rejected for some reason. (And clue in that issuer, too!).
• Know your numbers. On a secure, password-protected web site or email, store your credit card numbers, expiration dates, security codes and customer service numbers. This will allow you to take action immediately should your wallet be stolen or lost.

And remember, just because you’re using credit cards on a trip doesn’t mean you can blow your budget!

 Email This Post