Taking Your Money Abroad And How To Protect Your Credit Cards While You're Away



Posted: Saturday, February 27, 2010

by Mark Bartley

A major reason why people take their credit cards overseas is because changing cash abroad can be c
ostly and time consuming. But like cash, credit cards still need to be looked after, and it's always good know what you're covered for with regards to purchases or if your card goes missing.

You can take your money abroad in a range of ways, either as cash, traveller's cheques, or in the form of a credit card. It's worth using a combination of these but to use the credit card as the main method of payment, it is advisable to check the regulations before you buy. The good news is that for purchases between 100 pounds and 30,000 pounds you can be covered for purchases from a supplier.

Many UK credit card protection plans can include cover for travel abroad as well as cover at home. The price, and terms and conditions can vary depending on your credit card provider and the type of credit card protection offered. Things like your passport, driving licences, and even lost or stolen cash can also be covered. Sometimes credit card protection offered by a bank or credit card provider is part of a wider card protection scheme that will also cover you at home and a range of other payment cards and valuables.

Ways you can keep your credit cards protected when abroad
One of the most important things you will carry with you on holiday will be your means of payment, and whether it's cash or credit cards, it's worth checking before you leave how best to protect your valuables. As credit cards offer a safer and more convenient means of paying than traveller's cheques, it is now quite acceptable to only carry a minimal amount of local currency and to use your credit card most of the time.

Make a note of necessary numbers to call in case your card is lost or stolen. Replacements can often be sent directly to your holiday address. Along with passports, tickets and cash, you should always keep your credit cards close to you. Using a hotel safe can also be a good idea, for instance, if you intend to visit the beach and go for a swim. Make copies of all your important documents, leaving one set at home and taking the other with you, as this could speed the process up when making a claim.

More credit card protection
A credit card protection insurance policy is invaluable for looking after your money when you're away, with emergency cash, luggage replacement, replacement tickets, and lost key services often included in the cover. Credit card protection insurance usually costs very little, and could go a long way to keeping your holiday hassle free.

Of course you should always inform your bank or credit card provider immediately if your wallet is stolen or goes missing. Ensure you read the guidelines issued with your credit card and make sure any insurance or protection included with the credit card covers you for as many expenses and potential pitfalls as possible.

This and other finance articles by Mark Bartley are aimed at keeping consumers informed about credit cards. Mark provides further information on other finance products in his range of articles.
Mark Bartley is a well respected writer on consumer affairs and a customer champion. He has experience in several industries including travel, finance, retail and leisure. He seeks to provide useful information from an unbiased viewpoint and helps people understand complicated market areas and find the best deals or services available.
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