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Choosing a Travel Credit Card

July 11, 2012

Egypt

If you have ever traveled internationally, then you know that exchanging your money can be a big concern.  Exchange rates cost travelers millions each year, and one way to avoid these costs is to bring along a good travel credit card.  You can avoid many of those fees by shopping around to compare credit cards.

By using a credit card when you are outside of the country, you are able to avoid fees, and so long as you pay the charges in full, you can avoid paying interest.  As a bonus, you can also build up ‘points’ that you can trade in for a number of useful items, like hotel costs and rental cars.

There are a few things to look for when you are searching for a good travel credit card.  One thing to look at is the price of the foreign transaction fee.  Typically, these fees run about 3-10% of each purchase, but they do vary by card.

Travelers who are going to be abroad for a long time can wind up paying hundreds of dollars in foreign fees alone.  Luckily, many credit card companies are dropping these fees to bring in more customers, so if you do your homework, you should be able to find a card that suits both your travel needs and your desire for low cost.

When choosing a credit card, it is also important to look at the rewards structure.  Cards may limit you to using your points with certain retailers or they may tell you that you can only travel at certain times of year.

If you don’t want to be locked out of shopping at certain stores or traveling when you want, then you really need to dive in and find out what you can really get out of all those points you build up.  Make sure that your card meets all of your needs so that you can enjoy traveling without worrying about exchange rates.

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