With the summer travel season in full swing, this is another good time to remind readers about what they need to do to ensure that their travel plans go off without a hitch.\u00a0\u00a0 I too will be traveling this summer, and this is what I am doing to prepare:<\/p>\n
1. Contact your bank. <\/strong>Your ATM and debit cards should be your primary source of cash when you travel as credit cards charge plenty of interest and fees for overseas cash advances. \u00a0 <\/strong>Let your bank know where you are going and when.\u00a0\u00a0 Include all countries where you will be visiting, even if it is just for a few hours or when you are just changing planes.\u00a0\u00a0 In fact, even if you are considering a brief cross border trip, you will want to notify you bank.\u00a0\u00a0\u00a0 It is during these brief stops that you may have to use your credit card, especially in the event of\u00a0 a travel disruption or an emergency.\u00a0\u00a0 That would be the worst time to have to sort out a fraud alert.<\/p>\n 2. Learn What Your FTFs Are<\/strong>.\u00a0\u00a0 FTF stands for foreign transaction fees.\u00a0\u00a0 This is a complete rip-off that almost all credit card companies tack on to any transaction taking place outside of the United States.\u00a0 It has even been reported that this fee has been added to transactions made in dollars when dealing with foreign companies.\u00a0\u00a0 The important thing is that not all FTFs are the same.\u00a0\u00a0 They tend to vary from 1-3%, with the notable exception of Capitol One, which does not charge an FTF.<\/strong> You can bet I will be using my Capitol One card while my well worn Starwood Amex stays tucked deep in my wallet.\u00a0\u00a0 Amex actually raised its FTF to 2.7% last year.\u00a0\u00a0 Call it a matter of principal, but I refuse to pay this worthless fee.<\/p>\n 3. Minimize Your Cards<\/strong> If you are like most people, you have a wallet filled with all sorts of credit cards, debit cards, store cards, and other various pieces of plastic.\u00a0\u00a0 Now imagine that you have lost your wallet in another country.\u00a0\u00a0 How much time do you really want to spend sorting that mess out over international long distance.\u00a0\u00a0\u00a0 I would leave all unnecessary cards at home such as your library card, Costco card, and Entertainment card etc.\u00a0\u00a0\u00a0 Bring along maybe just two or three credit cards and an ATM card.\u00a0\u00a0 Leave one card in your hotel room, preferably in a safe with your passport.<\/p>\n 4. Call your credit card companies<\/strong> Tell them that you will be out of the country.\u00a0\u00a0\u00a0 Like your bank, list any country you may step foot in, just to be safe.\u00a0\u00a0 Interestingly, American Express now claims that you do not have to notify them, but Visa and Mastercard are very glad you did.<\/p>\n 5. Keep your credit card company’s contact info<\/strong> Every credit card company usually has a collect call number that you can call from another country.\u00a0\u00a0\u00a0 Write these numbers down somewhere, perhaps in an email to yourself.\u00a0\u00a0 In the event that a card is lost or stolen, a short, free telephone call should be all that is necessary to report it and request a new card be sent to you.<\/p>\n 6. Decline Dynamic Currency Conversion<\/strong> DCC is a scam that some merchants will try to pull on\u00a0 foreign tourists.\u00a0\u00a0\u00a0 The pitch goes something like this, “would you like to charge this to your home currency?”\u00a0\u00a0 It sounds innocent enough.\u00a0\u00a0\u00a0 They claim that the exchange rate is competitive too.\u00a0\u00a0 Don’t do it!\u00a0\u00a0\u00a0 The exchange rate may actually be competitive, but they will also be tacking on a huge fee.\u00a0\u00a0 To add insult to injury,\u00a0 you will also get the FTF tacked on by your credit card company.\u00a0\u00a0 If you get any kind of pitch, decline it, and make a note on your credit card slip that you are declining FTF, as it may be difficult to tell if it was added in a foreign language.\u00a0 Save your receipt just in case.<\/p>\n 7. Review your statements when you return<\/strong> Check to see if someone stuck a DCC charge on your bill.\u00a0\u00a0 Also, make sure your credit card wasn’t skimmed or cloned, only to be used fraudulently.\u00a0\u00a0 Remember that a smart fraudster will use the card for a few small transactions first before going for a big score.\u00a0\u00a0 If you suspect that an FTF was charged inappropriately, or anything else is the matter, contact your credit card company immediately.\u00a0\u00a0 They are usually very generous in resolving these kind of problems.<\/p>\n Finally, don’t be afraid.\u00a0\u00a0\u00a0 I have yet to have a serious problem with a credit card when traveling.\u00a0 Nevertheless, that is no excuse for not taking reasonable precautions when you visit other countries.<\/p>\n","protected":false},"excerpt":{"rendered":" With the summer travel season in full swing, this is another good time to remind readers about what they need to do to ensure that their travel plans go off without a hitch.\u00a0\u00a0 I too will be traveling this summer, and this is what I am doing to prepare: 1. Contact your bank. Your ATM […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"yoast_head":"\n