If you often go on trips abroad or if you plan to travel anytime soon, perhaps you may consider taking a prepaid credit card with you. Using a prepaid credit card is more convenient than carrying cash and a quick way to pay for your purchases to. Listed below are some tips on how you can use a prepaid credit card safely while on a trip:
Choose a prepaid credit card recognized internationally. Does your prepaid credit card carry the Visa or Mastercard logo? It’s best to choose one that does so you can be sure that your credit card will be accepted by more merchants and establishments wherever you are in the world.
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Check your balance. Pre paid credit cards can only be used for payment while there is an existing balance in your account. Before going on your trip, make sure that you have enough balance to spend while on your travel. Although you can reload your account in your place of destination, you want to make sure that there will be sufficient funds that you can use until you’re ready.
Check the expiration date. Most prepaid cards can only be used for a span of three years or less. Don’t forget to check the expiration date on your prepaid credit card as nothing would be more frustrating than finding out that your card needs a replacement.
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Understand the fees. Before going on your trip, review the terms and conditions of your prepaid credit card issuer to make sure that you know all the possible fees you may incur. Don’t forget to ask about the foreign currency exchange fee as this extra cost can really make your purchase more expensive than what it really is.
Keep all your receipts. Be sure to keep all receipts from your purchases. These documents can be used as references in case there might be errors in the charges reflected in your bill.
Check your account. Many pre paid credit cards offer online access feature which makes it easy for the cardholder to check his/her account. It is recommended that you log in to your account and evaluate the charges on the same day that the purchase was made. This is because issuers generally accept disputes on prepaid credit cards within two days from the date the transaction was made.
Beware of duplicate charges. Most hotels and car rental companies will put a hold on a certain percentage of your balance until you have completed your stay or you have returned the rented car. Again, you want to make sure that there will be no duplicate charges or errors so keep your receipts and check your account right away.