Credit Cards » No Foreign Transaction Fee

Know These Things When You Do A Credit Card Comparison For Travel

Dolissa Medina — Sun, 29 Mar 2015 13:35:14 +0000

No Foreign Transaction Fee Credit Cards – Two things you need to know

When you do a credit card comparison for travel be sure you consider the FTF – foreign transaction fee!
Calling all frequent international travelers — are you tired of paying up to 3% in currency conversion fees every time you buy something with a credit card on foreign soil? There is an easy solution to this predicament, and it’s called the No Foreign Transaction Fee credit card. Today, with global travel on the rise, there are hundreds of opportunities to find the right kind of card that fits your lifestyle, vacation patterns, and affordability level for annual fees.

But there are other issues to consider, too. These include emerging credit card technologies and ease-of-use in different parts of the world. When looking at all your options, don’t forget to confirm that the card you want will also be wanted by merchants in the places you plan to visit. And make FTFs part of your credit card comparison for travel!

Below are two important questions to ask yourself before you apply for a credit card that offers a No Foreign Transaction Fee.

Do I need a smart chip-enabled card?

Here in the USA, our credit cards are literally “attractive” ways of doing business. With their old-school magnetic strip, our domestic cards have used this “swipe and sign” system for years. But in Europe and many other parts of the world, a more secure hi-tech system is in play. This smart technology is called EMV (Europay, Mastercard and Visa), and is fast becoming a global standard for credit cards purchases both big and small. Featuring an integrated chip, these cards are quickly being adapted under names such as “IC Credit” and “Chip and PIN.” If you travel in Europe a lot you may need to make this chip part of your credit card comparison for travel.

According to a 2013 report by EMVCo, which keeps statistics on EMV adoption, EMV systems are most prevalent in western European countries such as France, Spain, Germany, Italy, and the United Kingdom. This means if you are traveling with just a magnetic-strip card, you might run into problems making point-of-sale purchases at local shops and train ticket kiosks. According to EMVCo, the lowest EMV adoption rate is in Asia and the Pacific, which includes countries like Australia, India and Japan.

Although the United States has been slow to use EMV technology, hope is on the horizon. In August 2014 the Payments Security Task Force, which represents the U.S. electronic payment industry, projected that more than 575 million cards with chip security will be issued in the United States in 2015. Will you be one of those people? Three cards you can start looking at now are the Chase Sapphire Preferred Card, the BankAmericard Travel Rewards Credit Card, and the Barclaycard Arrival Plus Worlite MasterCard.

Credit Card Comparison for Travel: What system works best for my areas of travel?

When considering world-wide acceptability, it’s important to know that Visa and MasterCard are the most universal systems. When it comes to credit card comparison for use abroad certain credit networks involve merchants around the world, financial companies, and regular consumers who obtain Visa or MC-branded products directly from banks and other institutions. This means an expansive global presence for both brands. According to creditcards.com, both Visa and MasterCard can be used in more than 25 million locations in 170 countries. Visa’s network is a bit larger, with 200 countries and territories accepting the card, according to the company’s “Global Presence” web page.

Another kind of credit system involves brands like American Express and Discover, which issue their own cards and handle all processing in-house. While fewer merchants and countries accept these cards, Discover has been identified by many bloggers and forum posters as one of the best cards for people traveling in China. This is due to a reciprocal contract with UnionPay, China’s main card-issuing bank. Discover, which by design never has a foreign transaction fees, is also accepted widely in other Asian countries such as Singapore, South Korea, Taiwan, the Philippines, and Thailand. So if like a modern Marco Polo you plan to go east in your travels, a Discover card might be the wisest thing for you to pack.

Some helpful links

If you want to learn more, here are some links for MasterCard and Discover.

1.Master Cards

2.Discover Cards

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Know How Credit Card Transactions Work And Take A No Foreign Transaction Fee Credit Card With You

Dolissa Medina — Sat, 21 Mar 2015 13:43:48 +0000

Before you travel oversees be sure you know how credit card transactions work in other countries. So hit the road Jack, but take a no foreign transaction fee credit card with you!

There’s a lot of beautiful territory out there to explore, and you can’t just see it from up in a plane. If you decide to hit the road as part of your travels and rent a car in a foreign country, you may be able to save some money by using your No Foreign Transaction Fee credit card, which often includes car rental insurance as an extra perk. But before you get behind the wheel, make sure you understand the limitations of this service.

Car Rental Coverage – Key Choices Before They Hand you the Keys

There are various types of insurance coverage when you rent a car abroad. “Collision damage waivers” (CDW) are easily purchased through a car rental agency, but can often be expensive. You could also opt to get collision insurance as part of a comprehensive travel insurance policy. The best affordable option however, is to use the free or low-cost coverage provided by your credit card company. These coverage plans are divided into “primary” and “secondary” coverage.

Nearly all credit card companies offer secondary coverage, which acts as a supplement to your own personal auto insurance. But keep in mind that most personal car insurance plans don’t cover international driving, and even if they did, would you want to risk increased chances of an accident in a land with different road rules, speed limits, and even driving lanes? No one wants higher premiums! If you are considering renting a car in another country, look into paying with a card that offers primary coverage, so that way you’ll be protected from higher premiums should bad luck strike along the way. Be sure you understand how credit card transactions work as relate to insuring your rental.

If you use American Express cards, you might want to look into the company’s Premium Car Rental Protection Program, which charges a flat rate of $24.95 per vehicle rental for up to 42 consecutive days. Enrollment is free and there is no deductible, with up to $100,000 in primary theft and damage covered (liability not included). Generally, American Express does not offer many cards with no foreign transaction fees. Two exceptions have traditionally been the high-end American Express Platinum and Centurion card, but these top-shelf products are out of reach for many people. Fortunately, as of May 2014, users of consumer and business Delta SkyMiles credit cards can also now access a waiver of foreign transaction fees. The road ahead is looking clear!

Behind the Wheel for Business and Pleasure

Other credit cards that incur no foreign transaction fees and offer primary auto insurance include the Citi Thank You Premier Card, the United MileagePlus Explorer, the Fairmont Visa Signature card, and the Discover Escape Card. And if you’re traveling abroad on business, you might want to consider the Chase Ink Plus or Chase Ink Bold cards, which both offer primary insurance coverage if the car rental is used for business purposes. The Chase Ink Plus was also named by Money Magazine in October 2013 as the best credit card for Travel Rewards for Small Business, so if you’re the type of person who logs lots of miles in your business dealings, think about chasing down this deal. Another option is the Mariott Rewards Premier Business card, whose plan offers reimbursement for theft and collision damage up to the actual cash value of the car. All three cards are offered through Chase.

If you wonder how credit card transactions work as relates to rental cards just be careful. Don’t take your auto rental insurance coverage lightly. Do a thorough review of your choices, and talk to your bank or credit card company to make the decision that is right for you. For some additional tips, check out the sidebar below.

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How Credit Card Transactions Work: Foreign Car Rentals and Credit Card Insurance – Some Tips

Talk to your credit card company and get specific information on countries where the insurance will and will not apply, and other details such as rental days covered, eligible vehicle types, maximum reimbursement, and if theft and loss are covered. Ask for a “Letter of Coverage” and take a hard copy with you to the car rental service.
Just owning a card with this rental coverage feature is not enough – you’ll need to actually use your card when you book and pay for your rental. This is an important part of credit card fees overseas and usage that you need to be aware of. Also, if your credit is low, consider using this one card exclusively just for the rental. That’s because if you decline a CDW, you are liable for the deductible and some car rental companies may put a hold on your credit card equal to the car’s value. This could put the brakes on your spending plans!
If possible, try to rent from an American-based company. Should you need to file a claim, dealing with the matter domestically can save you a lot of headaches.
Generally, in order to use your credit card insurance benefit, you need to decline the CDW. Avoid signing any rental contracts until you have confirmed with the rental agency that you are turning their coverage down.
Primary rental car insurance via credit card only works when there is damage to the car or theft. If you damage other cars, property or people, you’ll have to fork out the cold cash and pay. Consider augmenting your coverage with other liability plans.

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Your Best Reward Credit Card Helps You See The World

Dolissa Medina — Mon, 16 Mar 2015 13:14:44 +0000

No Foreign Transaction Fee Credit Cards: Endless Savings for a Big World of Travel

The best reward credit card truly is in the eyes of the beholder. These days, global adventures are within reach of almost everyone, whether you’re a first-time traveler, regular jetsetter, or someone living an ex-pat life. While it can be fun to experience new languages, cultures, and culinary delights, one travel aspect most vacationers dread is that moment when the bill comes due. In fact, when it comes to spending your money abroad, you risk passing through some rough financial territory.

That’s because many regular credit cards will charge you a Foreign Transaction Fee (FTF) – extra costs of up to 3% on every purchase you make in another country. In other words, a trip that’s budgeted for $5,000 will face a whopping $150 in fees – the cost of a nice night out while on vacation. Apply these fees to a region such as Europe where your dollar is also weak, and you’re facing a real double whammy. The best reward credit card doesn’t have these fees.

What can a savvy globe-trotter do to win back some purchasing power? The best solution is to get yourself a credit card that waives the Foreign Transaction Fee. Nearly every major credit card company and banking institution offers no FTF cards, so it’s just a matter of finding the right card for you.

The Best Reward Credit Cards: Big Savings Also Come with Perks

Interest free savings and 0 credit card offers aren’t always your only clear choice – other features are important too. In addition to saving big, users of no FTF credit cards often get access to special perks that can benefit their travels. If you are a traveler and wonder how to use a credit card smartly here are just a few popular cards and some of the advantages you can make use of:

Travel Rewards – These perks are a natural for frequent flyers and foreign spenders. Loyalty programs with specific airlines work great for certain travelers, but you might also want to consider the flexibility of cards that offer open-ended travel opportunities. The Capital One Venture Rewards credit card is an example of one such card. With miles that don’t expire, no restrictions on the airline you fly or hotel your book, and no blackout dates, the card is a good choice for people who love last-minute international getaways.

Concierge services – Cards such as the Premier World MasterCard and Visa Signature are two popular choices for their reputation of going the extra mile with their free concierge services. With access to 24-hour assistance, you’ll be thankful for that extra support when you are looking for the right restaurant, hotel room, or entertaining activity.

Car Rental Insurance – Road trips can be a special part of your vacation getaway. If you’re planning to rent a car, some cards provide special coverage in case of an accident. Just make sure your card includes a primary insurance option. One card that offers this benefit is the United MileagePlus Explorer, which gives users of United’s loyalty program an extra peace of mind behind the wheel.

Before You Sign Up: Important Tips

So are you ready to jump and start saving with your new credit card? Be sure to first look ahead and choose the best reward credit card for your lifestyle. New adventures also bring potential pitfalls that can ruin your trip in the instant of a plastic swipe. So remember these three tips when you use any credit card for foreign purchases.

Call your credit card company before your journey and inform them of the dates you’ll be traveling. This will help prevent the nightmare of fraud software picking up on suspicious activity and freezing your account. The last thing you want is for your cash flow to get stuck in bureaucratic mud. Your vacation time is too valuable to waste frantically trying to free your line of credit.

If you are traveling to Europe, try to get a credit card with no Foreign Transaction Fees that also uses an EMV chip. Without this technology and a connected PIN number, you might run into problems with certain point-of-sale purchases. Sure, tourist areas and major hotels might accept your non-chip card, but with so many sites and souvenirs in front of you, why limit your purchase possibilities?

Lastly, if you plan to continue your international shopping online, the currency in which you pay can sometimes make a difference. See if it’s possible to change the currency into dollars. But then again, with your new No FTF credit card, it really won’t matter at all!

Read more on the features and benefits of credit cards with no foreign transaction fees. The savings waiting for you will be as clear as the blue sky outside your airplane window.

The post Your Best Reward Credit Card Helps You See The World appeared first on Credit Cards.

Choose Concierge Service To Make Your Best Travel Reward Credit Card

Dolissa Medina — Thu, 12 Mar 2015 14:35:52 +0000

The best travel reward credit card is one that provides you ease and comfort when you travel abroad. Are you the kind of person who enjoys an extra bit of pampering? Are you even a glutton for luxury treatment? If so, there are handful of credit cards out there designed just for you. These are cards that offer concierge services along with no foreign transaction fees. With these cards, you can save big on conversion fees, and use the extra cash to enjoy creature comforts in a foreign land. When you find both together you truly have the best travel reward credit card.

Creature Comforts, Credit Cards, and the Charm of the Concierge

Sometimes overlooked or even forgotten by holders of no foreign transaction fee cards, the free concierge service can be of amazing value. Not only is it a great way to enhance your travels, but it’s also a practical solution to relieving some of the stress you might face in booking the right table or hotel room at the last minute.

Quirky Requests and Reality Checks

In some cases, the concierge service might even go that extra mile and fulfill some odd requests. Business thought leader and popular blogger Timothy Ferris once tested the limits of the concierge services connected to Visa’s line of Signature products. Ferris called the company and asked his “personal assistant” to find a huge tub of nacho cheese in the Austin, Texas area. Within a day, he was given the name, address, and phone number for the store where he could find it. They even quoted him a price for the giant bucket of comfort food!

But before you get too excited about this plastic resource in your wallet, know that concierge services have their limitations. They will not help you with your homework, or obtain government documents for you, or plan your wedding, or help you break the law. And contrary to what you might think, concierge services actually do not have access to your account information or loyalty rewards program. The services will also do their best to solve your problem but they won’t necessarily comparison shop, so you might not get the best price for your solution.
Be sure to utilize your virtual assistant in a smart and practical way, but remember — they aren’t superheroes!

The Best Travel Reward Credit Card : Concierge Services – Three Options

If you have an airline or hotel-branded Visa Signature Card, you will have complimentary access to the company’s personal assistants who can help you with a variety of expertise. Not all Signature cards will waive the foreign transaction fee, but some cards that do are the BankAmericard Travel Rewards Credit Card and the U.S. Bank Skypass Visa Signature Card. Concierge services include restaurant recommendations and reservations, travel arrangements, shopping, entertainment and ticketing, and business-related help such as hospitality and conferences. To speak with a personal assistant 24/7, call 800-953-7392 (U.S.) or 804-673-1693 (collect outside the U.S.).

Another established concierge service is offered to holders of World MasterCards and World Elite MasterCards. At the World MasterCard level, concierge assistants can help you with buying and delivering gifts, organizing business arrangements, making dinner reservations, and securing event tickets. At the World Elite MasterCard level, the Global Concierge Service includes an on-call personal travel advisor to help you with your luxury needs.

Both levels also give you access to a 15% discount on the MasterCard Airport Concierge service, which will designate a “meet and greet” agent to escort you through departures, arrivals, and connecting flights. This service is ideal for VIP international travelers who want the convenience of a fast track through immigration and baggage, or who prefer a chauffeured ride to their final destination. The MasterCard Airport Concierge service is currently available at more than 450 destinations worldwide. Travelers considering this the World MasterCard might want to consider the Barclaycard Arrival Plus World Elite MasterCard, which has no foreign transaction fees and earns 2x miles on all purchases. To reach MasterCard Concierge Services 24/7, call 800-336-6420.

Lastly, when it comes to concierge services, American Express is the industry’s pioneer, having creating the concierge service for its elite members many years ago. The American Express Business Platinum Card is perhaps the best travel reward credit card and one card you may want to consider if the $450 annual fee does not discourage you. To contact American Express Business Platinum Concierge Services 24/7, call 800-492-8468 or 623-492-8468 (collect outside the U.S.). Or, to compare credit cards online check out creditcard.com’s comparison tool, or simple compare the cards we have listed here on your own.

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