Tips for Overseas Travelers
NEW YORK ( MainStreet) -- With just a little bit of planning, you can avoid credit card stress while traveling overseas, starting with finding ways to make vacation dollars last even as the value of the U.S. dollar declines.
While you need to carry some cash to cover expenses in situations where plastic is not accepted, using a credit card to make purchases while you are abroad will cost you less in the end than exchanging hard currency whether at home or overseas.
|Some cards are made for travel and can provide luggage or car rental insurance, as well as travel upgrades and other perks.|
But beware: Most credit cards charge a 3% "foreign transaction fee" that applies to all charges processed outside of the U.S. Consider applying long before you travel for a card with no foreign transactions fees. Chase (JPM), Capital One (COF) and Citibank (C) are a few of the banks offering these cards.
Consider rewards cards. They can provide luggage or car rental insurance, as well as travel upgrades and other perks. "Really think about more of the hidden benefits," advises Leah Gerstner, a spokeswoman at American Express (AXP), and Sukhi Sahni, a spokeswoman for Capital One, agrees shoppers should "Always check the card's online shopping portal for online and in-store bonus rewards that can be used for your next vacation or getaway."It is always a good idea to alert your credit card company of your travel plans before embarking. Even if your travel plans are within the United States this is a good habit to develop, since even unusual interstate charges can be enough to raise a lender's red flag -- and should they suspect fraud, they may freeze your account. One quick call before you jet off can keep your plastic powerful for the duration of your trip. Finally, bring an extra credit card to protect against loss or theft. Tuck your backup card in your luggage instead of carrying it around with you, using it only in case of emergency. Squirrel away some cash alongside it and you're good to go. Bon voyage! >To submit a news tip, email: email@example.com. Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV