| July 2009 |
|||||||
|
There are many stories involving people traveling with their credit cards. But with all the stories, many of them might have been resolved with minor disruption, if the travelers would have done these simple things. Any time you travel, you should make copies of all of your credit cards airline tickets and documents, both front and back. You should leave these copies with a friend, and also keep a set with your luggage. That way if you ever lose a credit card, you can get it canceled immediately. The majority of problems with the cancellation of credit cards occur when you travel internationally. Many travelers forget who the credit card is with; it's then many wasted hours calling United States and trying to find out which bank or institution the credit card was with. That's where the photocopies come in handy. When you make copies of your credit card numbers, remember to black out or cut out the expiration dates and names on the face of the cards. This will make it tougher for your credit card information to be stolen if the copies should fall into the wrong hands. While your liability in stolen credit card cases is limited to $50/card, this can quickly add up if multiple cards are involved. Travel with individual cards in separate names If you travel with someone, especially a husband or wife, make sure you travel with individual credit cards in separate names. The reason for this is simple. Many families have one credit card issued to them. Many families have one credit card account number with individual cards issued to each person. The problem with this is if one person were to lose their credit card, the others person's credit card would also be canceled, and you would have to wait until another card was sent to you in three to five days. By each traveler having his or her own separate credit card, if one was lost, you could survive on the other credit card for a few days until the other is replaced.Avoid automatic credit card deactivation Automatic credit card deactivation can spoil a vacation. Some banks and credit unions cut off credit cards that are used 6 or more times in one day, to try and stop thieves from using stolen cards. If this happens to you overseas, you may find it difficult or impossible to have your card reactivated. Before going on an overseas trip on which you will use your credit cards, notify your credit card companies that you will be away overseas. This will let them know that your card has not been compromised. Watch out for those foreign currency conversion fees When you’re traveling abroad and using a credit card, watch out for the conversion fee that many banks charge to convert charges in foreign currencies to dollars. As with traveler's checks, some banks do and some banks don't charge a fee, generally 1% of the purchase amount. So if you have several cards, it's worth checking with the issuers to see which one offers the best deal on foreign currency conversion. Then weigh this against other factors. Note: The conversion fee is not included in the legally required disclosure box that appears in credit-card promotional material. Even with the conversion charge, many times ATM machines will have the best possible exchange rates and the lowest fees. Important: Many foreign ATMs only accept four-digit PIN numbers. If your PIN is longer, check with your financial institution about changing it before you leave the country. Sometimes it's as simple as going to your own bank's ATM and changing it yourself. Apart from ATMs, the best locations for exchanging U.S. into foreign currency are banks, the biggest ones you can find. They offer fairly decent rates and low fees, and do much better for you than the commercial money-changing kiosks and storefront establishments. Never use the latter. |
|
|
|
|
|||
