The Best Credit Cards For Overseas Purchases

Posted by Nick Niesen on October 29th, 2010

Many credit card companies charge fees for using your credit card overseas. If you plan to travel overseas and use your credit card, then you should select a credit card that does not impose fees for overseas usage. This article will show you how to select a ?globe trotting? credit card that is easy to use and affordable.

Most credit card companies increase fees for foreign use around the holidays because many travelers are overseas purchasing foreign gifts. Credit card companies usually post these fees in small print. Many of these fees are in the form of interest. Most credit card companies charge a loading fee of around 2.75%. Some also charge a flat fee each time a credit card is used as well. Many consumers do not notice the loading fee until they get there statement. These fees can add up when you are purchasing expensive items overseas. Many of these charges and fees are hidden on your statement in small fine print.

Another area of high fees is overseas ATM?s. The typical American ATM charges $2.00 for a transaction. Overseas ATM?s can cost you as much as $5.00 to withdrawal money. If you do not want to order a credit card that charges minimal fees for overseas purchases then your best bet is to use the ATM. Use the ATM sparingly. Patrick Thompson, lead credit card reviewer at the number one credit card review website www.sparecard.com ? suggests you take use the ATM to take out large amounts of money. He warns consumers against using the ATM for low cash amount transactions because the Interest fees and ATM use fee is too high.

Many credit card companies offer travelers a shorter amount of time for card transaction dispute processing. If you think you may have been overcharged by a merchant or scammed then it is best you check your online credit card statement as soon as you can because credit card companies usually only offer a 5 day grace period for disputes resulting from purchasing products at overseas merchants.

The best credit cards for overseas travels are pre-paid debit cards because you control how much money goes on the card and you won?t be charged the higher fees that you would if you used a credit card or withdraw led cash from an ATM. A good credit card on the market today for overseas use is the Choice Privileges Visa Card. You get 8,000 points awarded to you after your first purchase. You get 2 points for every $1.00 on net retail purchases. There is no annual fee and you earn 15 points for every dollar you spend at choice privileges locations throughout the US, Canada & Mexico. I will also suggest the Gold Delta SkyMiles Credit Card. Check with your credit card company to see what they charge for overseas use. You have a few options if you plan to spend money overseas. The cheapest of the options is to use an ATM and take out large amounts of cash.