Shopping Abroad? Think Again

Travel and shopping is ultimately an enjoyable combination. The plethora of interesting items to check out is ridiculously exciting. Not to mention, along with this experience is your immersion to another culture. Doing this is definitely like an enhancement of your fashion sense and cultural knowledge. However, although it is fun to shop and travel, there are still some things you need to be cautious about. Particularly in shopping, you have to be mindful of your credit card use.

Naturally, bringing credit cards is a very practical thing to do. Not only is it safer but you are secured of instant purchase privilege as well. But as you have known, credit card use in shopping can easily cover you up with credit card debt. Along with the good memories on the trip, you’ll be bringing home bills as well. If you are not cautious enough, it could result to traumatizing years of credit card payments.

It is a common advice for any credit card user to be thrifty in lashing out the plastics. But in shopping abroad, there are still necessary things you have to know. Did you know that using credit cards in a foreign country is in fact an expensive way to shop? This is because each transaction would cause you distressingly large fees. These fees are way higher than the normal fees you would be paying in your home country. Each ATM withdrawal and credit card purchase racks up foreign exchange rates and transaction fees.

For example, if you’re using a credit card from Bank of Queensland, you’ll be surprised of their hefty charges. Commonly, they charge a staggering $4 on your every credit card withdrawal and purchase. If you go for cash advance overseas, you will receive 1.5% on overseas withdrawal fee. Additionally, you will get charged 3% in fee for the so-called foreign currency conversion. Overall, it means that for your $200 withdrawal, you are piled with a $13 additional fee.

However, these facts are not meant to dissuade you from using credit cards overseas. But merely, they should be your guide in making wise decisions. Keep your credit card use to a minimum. As much as it is advisable in your home country, it is also advisable to use cash when abroad. Prepare dollars in hand and tuck them safe. Convert them prior to traveling or upon your arrival at your destination.