There can be fees for international credit card use. But they’re avoidable if you make the right moves, starting with picking the right credit card. Foreign transaction fees are the main concern. Nine in 10 credit cards charge them. But since WalletHub tracks 1,000+ credit cards, we’ve got plenty of no foreign fee cards for you to consider. Furthermore, you need to watch out for:
Dynamic Currency Conversion – This isn’t really a fee, but it could cost you money. In short, you should turn down any merchant’s offer to convert prices into U.S. dollars. They may be doing it just as an excuse to charge a high exchange rate.
International ATM Fees – These will only come into play if you try to perform a cash advance internationally. And there’s no reason to do so if you bring an international debit card on your trip.
In addition, if you decide to convert hard currency at a local bank or airport kiosk, you’re going to lose a lot to fees and high exchange rates. So try to use plastic for as much as possible when traveling abroad. In particular, a Visa or Mastercard with no foreign fee can save you up to 9% on currency exchange. Finally, if you choose a card that doesn’t offer rental car insurance or general travel insurance, you could be playing with fire.
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