Top Three Credit Cards to Use When Traveling Overseas

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Millions of Americans travel overseas each year for either business or pleasure. Although most travelers plan and prepare for their trips months ahead, traveling abroad can still be expensive. That is why you need to know everything that you can to cut down a few costs or lower some fees whenever you are traveling to a foreign destination.

One way you can lower your expenses is by using a credit card that does not incur you any foreign transaction fees whenever you make a purchase. You should also choose a card that does not charge fees when converting your transactions to local currency.

Since most cards charge as much as 3% in transaction fees for every international purchase, knowing this information can help you save up. Thankfully, some cards have exclusive promos for budget-conscious travelers like you.

The best overall card

Barclaycard’s Platinum Cash Plus card is the one that stands out from the rest. It does not charge any fees when you use it overseas or when you make cash withdrawals. Moreover, it does not charge you with interest rates on foreign cash withdrawals for 56 days.

What makes it even great is that these deals will last until the 31st of August 2023. You will also get a .25% cash back every time you use the card. However, the card comes with at least 21.9% APR interest rate.

The best travel rewards card

using a credit card

Frequent travelers are always on the prowl for the best travel rewards card, particularly the one that offers several rewards points and dining discounts worldwide. And one of the best ones that provide great deals is the Chase Sapphire Reserve.

This card offers its customers to earn most miles. You can earn as much as 50,000 bonus points just by spending $4,000 on purchases during your first three months of opening the account. It also has $300 worth of annual travel credit as a refund for all travel purchases charged to your credit card for every account year anniversary.

Customers can also earn 3x points when they travel after their $300 travel credit without any foreign transaction fees. Even more, they get 50% more value when they redeem their points for travel by using Chase Ultimate Rewards.

The best cash back card

Meanwhile, for travelers who keep track of their quarterly bonus categories, the Discover It Cash Back card is worth their effort. When their bonus categories rotate every three months, the bank offers them a 5% cash back.

However, it applies to specific business establishments, such as restaurants and gas stations. Customers must keep in mind that the 5% cash back only applies to the first $1,500 spending every quarter. So, it is best to opt into this benefit at the start of every quarter.

So you will know if your bank offers any perks for using your card overseas, it is best to call them about it. Your bank will let you know if they have any features that they think you might like when you are traveling. If you want to know which bank suits you best, ask help from a company that provides credit card processing for title lenders to get accurate information.

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