Why you need an international credit card TuesdayTravel
An international credit card can be used pretty much anywhere in the world. It’s a card that doesn’t charge foreign transaction fees and includes an international chip and PIN.
Credit card foreign transaction fees A foreign credit card transaction fee is a fee charged when you use your credit card to make a payment in a different country. It used to be known as a foreign currency conversion fee. It’s a fee added on to the sale because you’re paying in a foreign currency. Typically, foreign transaction fees are roughly 3% of the total cost of the transaction. They are also charged in U.S. dollars.
U.S. merchants that accept magnetic strip cards now foot the liability of fraudulent transactions where the credit card company foots if it a chip card is used. International credit card options There are different international credit cards available, but some offer better benefits and interest rates than others. Some even offer a rewards program. The editors at Credit.com break down a few of the available cards here to help you see some of your options and start to find the best card for your travels.
The Capital One Venture Rewards card is a credit card worth considering too. It offers a solid introductory APR and travel rewards points. It also rewards you with a sign-on bonus of up to 20,000 miles or $200 in travel when you spend $1,000 in your first three months. The only downside is that this card comes with an annual fee after the first year.
Things to consider Even with an international means of payment, your credit card may not be accepted at all locations. Recently, a Credit.com staffer who traveled to Amsterdam tried to use his World Elite Mastercard at some retailers and found that local merchants didn’t always accept a Mastercard branded card.
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