Especially before summer, when the holidays are not far away and the holiday is just around the corner, the question naturally arises again how best to remain liquid in another country. The credit card is one of the most popular forms of payment in this case. It’s no secret that fraudsters often have an easy game, especially among tourists. Especially during the holiday season, many people have to accept severe losses when the wallet with all the cash for the holiday has disappeared. For this reason, the decision to look for alternatives to cash is not difficult. Rather, it is almost a duty for most people today to think about how to prevent something like this before going on vacation.
Since the use of the checking card
Especially in countries outside the EU, brings more costs than benefits, the credit card is still one of the most popular means of staying financially liquid on vacation. The advantages of the credit card are obvious: In most cases, paying and withdrawing cash with a credit card are significantly cheaper. It should also not be forgotten that the credit card has a particularly large number of acceptance points. So if you want to be sure that you can easily pay with the card on site, you should choose a credit card – ideally from VISA or MasterCard. These providers demonstrably have the most acceptance points and therefore offer a variety of payment options. However, the credit card can also incur costs that may not be expected in the amount. Thanks to a few tricks, however, it is possible to save here and there and get through the vacation cheaply.
These tricks are helpful with the credit card on vacation
Most of the costs come at the point where credit card payments are made in a country where the euro is not the common currency. Here the banks take fees for converting the national currency. In many countries it is common for customers to be asked whether they want to pay in euros or in the local currency. Many holidaymakers tend to pay directly in euros here. The reason for this is that it is suggested to have a better overview. However, this is a shortcoming when it comes to fees. Of course, holidaymakers have a better overview of the amounts paid by credit card when paying with euros – but the costs are also higher.
If the restaurant or the shop in which the credit card and the desire to pay in euros were used to make the booking, the exchange rate of the bank with which a provider works is taken. This exchange rate can be significantly different than the current rate at which the credit card company would debit. After all, the bank wants to make a plus at the expense of the credit card owner. Instead, VISA or MasterCard is all about being customer-friendly. This allows customers to check the exchange rate at which their own credit card provider is working. Interestingly, it is even possible to trace the course calculations back. It quickly becomes clear that, of course, your own credit card company also earns money, but much less than the retailer’s bank would like.
For the credit card user, this is the point for saving
It is therefore important to always insist on paying in the local currency when paying with a credit card abroad. This is the only way to keep your own costs really low and there is no bad awakening when billing.