Here are some hints from University Travel in Loma Linda, California:
Using Credit Cards Overseas
Making purchases with plastic in the states is done so frequently to the extent that we're shocked when one of our purchases can't be made with either our credit or debit card. But if you're planning to travel overseas, you might want to do research because those convenient little cards can come with some hidden unpleasant surprises.
Most credit card companies charge a foreign currency conversion fee, usually 1%, and the issuing bank usually tacks on an additional 2% charge. However, not all card companies or issuing banks charge the same fees, and some don't assess them at all. Similarly, applicable fees will vary with debit cards; however, they are typically the best way to get cash because credit card cash advances can carry a hefty APR (some hover in the 22-28% range) along with additional applicable fees for a foreign transaction.
Fees do add up, so before you leave for your trip plan on doing a little research to find the best credit or debit card to avoid or minimize foreign transaction fees.
Even if you don't plan on renting a vehicle, you'll still want to contact your credit card company to inform them of your travel plans. Credit card companies, ever vigilant at spotting fraudulent charges, might view your travel charges as fraudulent and freeze your account if they are unaware that you're overseas.
Before you leave, it's critical to write down the bank name that issued your card and the customer service phone number, many of which enable you to call collect from overseas if there is an issue. Make two copies, then store one either in a secure pocket or money belt separate from your credit card and the other in your hotel safe or with your travel partner. Should you lose your card or if it is stolen, having this information readily available will allow you to quickly contact your card company to halt any fraudulent transactions and expedite the process of obtaining a replacement card.
Being aware of your plastic's stipulations and taking a few simple steps to safeguard your purchasing power will greatly enhance your overall overseas experience.