How To Avoid Extra Credit Card Fees During International Travel

Going on an international trip is very exciting but it can also be very expensive. Using a credit card to pay for purchases when traveling internationally is often the best way to get a good exchange rate and the rate your bank gets will be better than the one you’ll get on your own if you exchange cash. Using a card also means that you don’t have to carry around a bunch of cash with you. However, many cards will add on a “foreign transaction fee” to any transactions made with anything except your home currency. Here’s an easy way to keep from paying that extra 2-3 percent on all of your purchases while away.

Continue reading “How To Avoid Extra Credit Card Fees During International Travel”

Advertisements

Chip & PIN cards and why you should have one

By now, I’m sure you have a credit card with a chip, or EMV chip to be specific, in your possession. It’s that thing on your card that makes the person at the checkout tell you, “You need to use your chip in the bottom thingie,” or makes them say when you try to insert your chip card, “We don’t use that chip thing yet, so you need to swipe your card.”

amex-everyday-preferred
That thing on the left side of the card is the “chip”

In the U.S.A., we like the think we lead the world in just about everything, but when it comes to credit card security we are decades behind the curve. EMV ( Europay, Mastercard and Visa) chip technology was introduced back in the 1990s and rolled out throughout Europe in the 2000s. The chip in the card is used to confirm the information instead of reading the information off the magnetic strip on the back. This technology is harder to counterfeit and, supposedly, cuts down on fraud. The banks in Europe rolled out this technology first because credit card fraud was, at the time, much more common there. When the chip cards were introduced and helped prevent fraud, the criminals went to the least protected market, the USA, so they could continue with the scamming. Lucky us.

Continue reading “Chip & PIN cards and why you should have one”