Provided you use them responsibly, credit cards can actually be useful in your financial life. If you’re travelling, for example, you can swipe plastic without worrying about exchanging cash or paying ATM fees. There are, however, a few traits you should look for in a good travel card.
Photo by Jake Ingle.
Foreign transaction fees can add up, so you want to make sure your card doesn’t charge you to use it out of the country. In addition to that, Credit.com lists a few other features to look for:
Well, for starters, it would be great if it offered no international transaction fees, and some travel protections while you’re on your journey. For example, some cards offer trip cancellation insurance and lost luggage coverage. Some cover your Global Entry application fees, which can smooth your travels at points of entry. Some cards also offer car rental insurance (which can vary by country). Premium cards offer extra points for booking flights directly with the carrier, plus offer entry to airport lounges, which can be especially great if you’re in need of a quiet place to rest and possibly even a shower.
The only problem is, some of these benefits only come with cards that carry an annual fee. In some cases, though, the perks from the card could actually pay for the fee (if the card offers a better-than-average cash back or travel rewards, for example). You want to evaluate your own priorities, but in general, at least make sure your travel card waives foreign transaction fees and offers some kind of insurance. In any case, you also want to read your card’s fine print so you know what exactly is and isn’t covered. For more detail, head to the full post.