If you plan on traveling outside the country for business or pleasure, here are some tips to follow regarding your ATM and credit cards:
• Before leaving, call your credit card company to advise them of your travel dates.
Otherwise, larger transactions and unusual spending patterns/locations could raise doubts about unauthorized use or fraud, holding up approvals.
• Confirm whether you can use magnetic stripe cards or if the area you’re visiting mainly uses the more secure “chip-and-PIN” cards. While U.S. cards with magnetic stripes will still work as long as there’s someone to swipe them, you may encounter problems for independent vendors, like ticket vending kiosks, gas stations or other small, local venues.
• Find out if your issuer charges foreign transaction fees, which can add 2% to 4% to each purchase. Foreign ATM fees and “out-of-network” charges can add up quickly, so consider applying for a “no foreign transaction fee” credit card as well as a debit card that does not charge extra for ATM withdrawals in other countries.
• Verify if you have a daily spending limit or a daily ATM withdrawal limit.
• Take more than one credit card with you, preferably from different issuers, in case one is not accepted, gets cut off or is lost. It’s smart to have a backup just in case.
• Since “800” phone numbers won’t work outside the U.S. and Canada, obtain your credit card issuer’s emergency contact number for the countries where you will be traveling, in case you need to report a lost or stolen card.
• For extended travel, most card companies can debit your bank account for a specified amount on your next payment date.
• In some countries, VISA is more commonly accepted than MasterCard, or vice versa. If possible, check beforehand, so that you can decide which cards to bring.
• Leave store cards and other unnecessary cards or identification at home.
