Who doesn’t love to travel? Exploring new destinations, experiencing different cultures, and making unforgettable memories are just a few of the reasons why people travel. However, the cost of travel can often put a damper on our wanderlust dreams. Fortunately, there are genius hacks for using your credit card to travel the world on a budget. From earning rewards to avoiding foreign transaction fees, we’ve compiled a list of tips and tricks to help you make the most of your credit card while traveling.
Earning rewards is one of the best ways to save money while traveling. Here are some ways to maximize your credit card rewards:
Choose a credit card with travel rewards
When choosing a credit card, look for one that offers travel rewards. Many credit cards offer rewards points for every dollar spent, which can be redeemed for flights, hotels, and other travel-related expenses. Some credit cards even offer sign-up bonuses that can be worth hundreds of dollars.
Use your credit card for everyday purchases
Use your credit card for everyday purchases such as groceries, gas, and dining out. This will help you accumulate reward points faster. However, be sure to pay off your balance in full each month to avoid interest charges.
Take advantage of bonus categories
Many credit cards offer bonus categories that earn extra rewards points. For example, a card may offer 3x points on travel and dining purchases. Be sure to take advantage of these bonus categories to earn even more rewards.
How to avoid foreign transaction fees
Foreign transaction fees can add up quickly and eat into your travel budget. Here are some ways to avoid them:
Choose a credit card with no foreign transaction fees
When choosing a credit card, look for one that doesn’t charge foreign transaction fees. Many travel rewards credit cards don’t charge these fees, so be sure to read the fine print before applying.
Use cash when possible
Using cash for small purchases can help you avoid foreign transaction fees. However, be sure to use a credit card for larger purchases for added protection.
Notify your credit card company before traveling
Before you travel, notify your credit card company of your plans. This will help prevent any issues with your card being blocked due to suspicious activity.
How to protect yourself while using your credit card abroad
Using your credit card abroad can be risky, but there are ways to protect yourself from fraud and theft. Here are some tips:
Use a chip-and-pin credit card
Chip-and-pin credit cards are more secure than traditional magnetic stripe cards. Be sure to use a chip-and-pin card while traveling abroad to help protect against fraud.
Monitor your credit card activity
Regularly monitor your credit card activity online to ensure that there are no unauthorized charges. If you notice any suspicious activity, report it to your credit card company immediately.
Keep your credit card in a safe place
Keep your credit card in a secure place such as a hotel safe or money belt. Avoid carrying all of your credit cards with you at once and only carry the ones you need.
Q: Can I use my credit card to withdraw cash abroad?
A: Yes, but be aware that cash advances usually come with high fees and interest rates.
Q: Do all credit cards offer travel rewards?
A: No, not all credit cards offer travel rewards. Be sure to research and compare different credit card options to find one that best suits your travel needs.
Q: How do I know if my credit card charges foreign transaction fees?
A: Check the terms and conditions of your credit card or contact your credit card issuer to inquire about foreign transaction fees.
Traveling the world on a budget may seem like a daunting task, but with the right credit card hacks, it’s definitely achievable. From earning rewards to avoiding fees and protecting yourself from fraud, these genius hacks for using your credit card while traveling will help you make the most of your travel experience. Just be sure to do your research, compare different credit card options, and always practice safe credit card habits while abroad. Happy travels!