Credit Card: The best companion during overseas trips

At last curbs on overseas travel have been lifted. Prompting people to check out tourist spots and also visit foreign destinations for other works. It's time to chalk out plans to arrange foreign currencies. Along with cash, Forex cards, and traveller's cheques, people should also study the benefits provided by credit cards.

Hyderabad:Although there are cash, a forex card and traveller cheques for foreign trips, credit cards also offer some benefits. Bank Bazaar CEO Adhil Shetty explains the benefits of credit cards on foreign sojourns and also says it is easy to use them as well. In addition to the convenience to withdraw cash when needed, you will receive rewards, cashback and discounts for purchases. Hence, carrying credit cards, along with cash and forex cards is the key.

Appropriate card:Many types of credit cards are available in the market. Benefits are rolled out based on the card. Before availing of a credit card, check out the following. Make sure it fits your needs. Double-check the transaction fee, late payment fees, rewards, discounts and all the details and also about the acceptance of the card in the country you are visiting.

Share information:Before setting out for travel, share details of your destination with the company issuing the credit card. Ensure transactions can be done through internet banking or an app and also choose the option to block the card on your own, otherwise the card becomes invalid. Because there is a possibility of banks suspecting your transactions as fraudulent and could temporarily block the card from their end. In that case, you have to immediately call the customer service centre to unblock the card.

Insurance cover:Depending on the type of credit card you are using, there are several benefits associated with it. Travel insurance is one of them. This will result in compensation in case of loss of goods, passport, travel delay, accidents and cancellation of flights. However, insurance offers vary for different types of cards. So, before travelling you need to know the insurance benefits offered by the card of your choice. Some card companies do not provide insurance for domestic travel. Also, check out the fees charged when withdrawing money from ATMs and as well as foreign transaction fees.

More than one card:It is better to carry more credit cards while travelling abroad. If one card is declined, another one comes in handy. Ensure cards belong to different networks like Visa, MasterCard and American Express. Also do not put all the cards in one basket and keep them in different bags. If one goes missing, you can rely on the other one. Before that, pen down the details of every card and if a card is lost, inform the bank concerned immediately to block it.

Read: Half of India's working population have one loan or credit card: Report