Considering the fact that many people have had bad experiences having used their credit card in a foreign country, in some cases being charged several pounds for every transaction, you would be forgiven for thinking that using your card abroad was not a sensible option.
However, as illustrated in a great article from Totally Money, overseas credit cards will actually save you money, as they are designed specifically for use abroad. If you are smart, choose the right card to avoid paying transaction fees altogether, this makes them around 6 per cent less expensive than normal cards.
Safe and secure
Credit cards are much safer than cash in the sense that if stolen you can quickly cancel it wherever you are in the world, whereas when cash is stolen, you have little or no chance of recouping the money. As long as there is no evidence that you were careless with your PIN number, you will not be liable for any money that was spent on it without your consent.
Section 75 of the Consumer Credit Act 1979 is an awesome piece of consumer-friendly legislation that means that if something goes wrong with a purchase made either at home or abroad, that the credit card company shares liability with the retailer. So, in the event that you use your credit card to purchases goods that turn out to be faulty, you will not have to worry about having to track down the shopkeeper and communicate with them if they don’t speak English – simply make a claim with your credit card company instead.
In the event that you are faced with some kind of emergency abroad, such as the theft of your luggage, you can use your overseas credit card to buy anything you need, without having to worry about the aforementioned hefty transaction fees.