When the traveller goes from the US to Europe, he can get many unexpected expenses. It is so because the travellers usually use the credit cards to make the payments. That is correct. The cash can be stolen.
Though, if a person pays by credit card outside the US he has to choose the best plastics to pay with. Otherwise, he will get be charged foreign transaction fees or lose on money conversion.
The very basic rule to remember when a person goes abroad is that he should pay in local currency always. Whatever plastic the person has, he will be given options to pay in local currency. If the country the person goes to does not use dollars, the traveller should choose local currency option.
What Foreign Transaction Fee Is
National governments follow one simple rule: they make everything possible to keep cash inside the countries. That is why the majority of banks are obliged to charge some additional charges on every purchase that is made outside the United States. Such foreign transaction fees can be very high. That is why some people prefer to get personal loans.
So, any purchase abroad for the client can get 3-10% bigger only because of transaction fees. No one wants to get some financial loses. That is some banks developed favorable credit cards that are free of foreign transaction fees.
If the client takes such cards to pay abroad, he will also get many interesting advantages. The plastics usually offer attractive cashback options and other rewards.
5 Top Credit Plastics to Pay in Europe
The next 5 plastics are advantageous to pay abroad. Here is the short overview of each of them:
- Chase Sapphire Reserve. The plastic was released back in 2016. It offers not only no transaction fees but also many bonuses. The person gets 3 points for each dining purchase and one point per one dollar for all other types of buying. Then a client can accumulate them and spend them at the end of the year.
- Platinum Card from American Express. It has no additional charges when the person pays abroad. The client also can get attractive airfare discounts. The plastic offers 200 dollars airline credit and returns on airline tickets purchases.
- Premium Rewards Credit Card by American Express. The person gets up to 50 000 points after the having spent 3 000 dollars. Bank of America offers 1.5 points on every purchase abroad and 2 points for dining purchases.
- Chase Ink Business plastic. The plastic lets you to effectively payments abroad without any additional costs. It also has quite an attractive signup bonus system. The client can get up to 80 000 points for 5 000 dollars purchases. The person can later use these points for various types of purchases.
- Capital One Venture Reward Credit Card. The plastic offers to the clients up to 50 000 free miles, that equal approximately 500 dollars after the client spends 3 000 dollars. The client additionally earns 2 miles on each purchase.
These plastics are the most beneficial to pay abroad. The person won’t be charged unnecessary charges. He will be able to earn attractive bonuses.