Most credit cards take a 3% cut when you spend money overseas. That adds up! And, actually, debit cards are often worse than credit cards for overseas spending. Not only do they have a big cash withdrawal charge, you get charged when you pay with the card, too. Be sure to find out what the charges will be before you start spending! If you already have payday cash advance, you don’t want to rack up all your debts.
So, how can you get around the fees? Well, one of the best ways to avoid the costs is to get a different credit card, without those extra charges. All you need to do is Google “credit cards with no foreign transaction fee” and you’ll see a list of cards.
However, be wary of annual fees if you get one of these cards. Often the cards that don’t charge a foreign transaction fee will have an annual fee upwards of $300. Naturally, deciding whether it’s worth it will depend on your spending habits overseas (as well as your travel habits). That being said, there are some cards out there with lower annual fees (or no fees), which still don’t charge foreign transaction fees.
Of course, you don’t have to get a credit card to spend well overseas. There are other options. For one thing, you can exchange money in the right place. Where? Well, avoid the airport! You may be able to exchange money in a convenience shop that caters to travelers, because they want you to spend your money there.
You can find the best places to exchange money online in advance. Also, be sure you call your bank before you go, so that they don’t freeze your card for suspicious activity!
