From bustling markets to serene beaches, when you’re far from home, your credit card becomes your financial lifeline. This article explores the essentials of using your credit card overseas for seamless spending.
Factors to consider when using your credit card abroad
Wondering ‘can I use my credit card overseas’? You can. However, here are some factors to consider before swiping your card in a foreign land:
- Notify your bank: Inform your bank about your travel plans to avoid any transaction blocks.
- Check for international acceptance: Ensure your card is internationally accepted.
- Understand the charges: Be aware of the foreign transaction fees and cash advance fees.
- Check for travel insurance: Some cards offer complimentary travel insurance.
- Emergency assistance: Check if your bank provides 24/7 global customer assistance.
- Card security: Use cards with chip and PIN security.
- Backup option: Always have a backup payment option.
- Receipts: Keep all your receipts until you check your statement.
- Local currency: Opt for transactions in the local currency instead of your home currency.
- Credit limit: Be aware of your credit limit to avoid overcharges.
Tips for smooth transactions when using your credit card overseas
- Use credit, not debit: Credit cards often have better fraud protection than debit cards.
- Dynamic currency conversion (DCC): Always opt out of DCC and pay in the local currency.
- ATM withdrawals: Avoid frequent ATM withdrawals to dodge fees.
- Mobile banking: Use your bank’s mobile app to track spending.
- Secure internet connection: Always use a secure internet connection when accessing your bank account.
- Contact information: Keep your bank’s contact information handy.
- Card details: Keep a separate note of your card details in case it gets lost.
- Card activation: Ensure your card is activated for international use.
- Payment due dates: Be aware of your payment due dates to avoid late fees.
- Card blocking: Know the process of blocking your card in case it gets lost or stolen.
Understanding foreign transaction fees and currency exchange rates
Understanding foreign transaction fees and currency exchange rates is crucial when using your credit card overseas. Foreign transaction fees are charges that your card issuer puts on you for making a purchase in a foreign currency or with a foreign bank. They are usually a percentage of the purchase price. On the other hand, the currency exchange rate determines how much one country’s currency is worth in another currency. These rates fluctuate based on economic factors.
Looking for a card that offers a host of features and benefits that can make your overseas transactions smooth and rewarding? Consider opting for the Bajaj Finserv RBL Bank Credit Card.
Bajaj Finserv RBL Bank Credit Card benefits
- Easy EMI conversion for purchases exceeding Rs. 2,500
- Annual fee waiver when you meet the minimum spending criteria per your card variant
- Complimentary airport lounge access
- Earn redeemable reward points on almost all your transactions
- Cashback offers on fuel purchases, transport, and groceries
- Discounts on dining and travel bookings
- Fuel surcharge waiver of up to Rs. 1,200 per year
- Free movie ticket every month when you book via BookMyShow
- Interest-free cash withdrawal from ATMs across India for up to 50 days
The Bajaj Finserv RBL Bank Credit Card not only simplifies your overseas transactions but also rewards you for them. So, the next time you plan an international trip, don’t forget to pack your Bajaj Finserv RBL Bank Credit Card.
