Before going on vacation, it is important that you spend a considerable amount of time preparing. Packing, booking tickets and hotels come first. Now it is high time to think about money. Should you take all money in cash? Should you pay for vacation with your credit card? Or maybe fifty-fifty? If you decide that you need a vacation despite insufficient funds to pay for it, paying with a credit card is your option. Here are some advice on what credit card will be the best to cover your vacation expenses with minimum interest and fee rates.
Credit card with low interest rate
In your home country and abroad, credit card with low interest rate is always the best option. You need to know what the interest is in case you will not be able to pay off the debt in time. It is especially important when travelling, since there may be unpredictable expenses. Having spent more than expected, at least you do not have to worry about huge amount of interest to pay off.
No withdrawal fee
Most credit cards charge cardholders each time they make a withdrawal, especially abroad. Since you will not want to carry much in cash around all the time, you will have to withdraw pretty often. Paying $5-6 for every withdrawal is not too much, however, you can easily avoid these unnecessary expenses. Just apply for a travel credit card or ask if your credit card charges fee for international withdrawals. If not – you are ready to go.
The longer the grace period – days or months during which no interest on borrowed money is charged – the more time after vacation you will have to pay off the debt and stay out of trouble. This way, you pay no extra, just the sum you spent. One more benefit is that by paying it off in time you prove to be a trustworthy borrower. It may help you to get more credit money next time you need it.
Every credit card issuer offers cardholders protection from fraud or unauthorized usage of the card. Once you let your bank know you are going to travel, there will be no security problems. And in case your card gets stolen or lost during vacation, you can also contact your card issue and block or deactivate your card. In any case, stay in touch with your card issuer!
These are some simple advice on what credit card to take on vacation or while travelling abroad. A good credit card choice will save you a lot of money and ensures the security of using credit money. So, be careful when choosing what credit card to rely on – interest rate, withdrawal fee, grace period and card security measures are the things to pay attention to.