Finance Tips for the International Tour

Probably the easiest thing you can do when planning your vacation is to set your destination! National goals can go smoothly because of the sense of belonging, but with international goals I experienced an additional planning factor, which is to get the most out of the money. Just a decade ago I had a travel allowance with me. Not anymore! Controls have become almost superfluous and may die out very soon. Credit cards are an instant solution for most travelers.

The biggest advantage, of course, is the ease with which we can buy air tickets in bulk. In addition, we can pay hotel bills and rental cars, which very often require huge monetary transactions. Since these are huge monetary transactions, it is advisable to read some important facts about how to deal with your banker. So before issuing a credit card for travel, there are some basic practical key factors to consider. Prepare your finances before international travel.

Prepare your finances before international travel.

Get a credit card that is suitable for foreign currency. This is important because some credit cards charge a foreign currency transaction fee. Check the bank in the foreign country where you make the transaction. The bank where the ATM is located may charge a service fee.
Before leaving, communicate the dates and places of the trip to the issuer of your credit card. This will help you activate your system so that sudden large transactions do not trigger your bluff alert system. Most often, this situation occurs when hotels, car rental companies withhold credit card. Remove the outlet after the bill is paid. Check with your issued credit card if international spending is limited.
And most importantly, do not exchange currency at the airport. Bring enough change with you so you can get to your Hotel or where you are.

Make sure your PIN is foreign friend. You may find your card hampered with longer pins, as many foreign machines do not accept cards with pins more than 4 digits.

Check and confirm with your issuer what fees are applied to your transactions. The rules are changing rapidly and we found that what was valid in the summer of 2011 was not valid in the summer of 2012.

Therefore, it is always best to check with your issuer for any policy changes.

Despite all the planning, just as you tend to overspend, there are trips where you bring back unspent euros. A couple of times I was faced with this situation. No one wants to be in a limited money situation even in a foreign country. And I took home the credit card loaded with Euros. The nagging fear always remained that I would get the best offer to convert the Euro to INR. Since I again had plans for a trip abroad, I saved them for the next vacation.

The second situation, in which no trips abroad are planned, requires good research. Accumulating the saved euros is a loss and you may need to sell them offline or online. Take a look at the different rates offered by the different issuers. Undoubtedly, the conversion factor will affect your transactions. But how drastically you get hit depends on how much market study you did. This factor is also constantly changing and depends mainly on the duration of the trip. Then think about the duration of the trip and the possibilities of market price fluctuations.

During my studies, I met a number of broadcasters offering various offers. Be sure to read between the lines of each of them. Some charge them in dollars and not in local currency. If your purchase is made in dollars, there is a possibility that your exchange fees will be revoked. Then check which currency you need to choose for purchase.

Another rare situation that can occur while traveling is to be billed twice for the same transaction or for something you did not purchase. Check with your issuer to see if they keep your credit card fingerprints. You can go back and compare. The issuer should be able to assist in the event of a dispute over such excessive fees.

After all, it is good to take more than one credit card with you and keep it in separate places in matter of pickpocketing. And when you do, write down the international customer support phone numbers.

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