How to Banish Those Pesky Fees When Traveling
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The foreign transaction fee. It’s like a dirty word in the world of travel and these pesky fees can add up and eat away at your travel budget.
“Each time you use your credit card or withdraw cash, you may be racking up fees that could have gone toward scuba-diving lessons or a frosty gelato. But you don’t have to pay fees,” writes Laura McMullen of NerdWallet for USA Today.
McMullen provides some simple tips for avoiding credit card transaction fees and the worst offender: the ATM fees. ATM withdrawals are one of the most expensive fees. Some banks charge as much as 5 percent of the transaction and that doesn’t even take into account the fee that the ATM might be charging you for the “convenience” of its services.
“Many Americans don’t think about these fees when choosing a credit card, according to a recent Harris Poll survey conducted for NerdWallet,” she writes. “Forty-one percent of the 1,617 card holders surveyed said they don’t consider foreign transaction fees and cash advance fees when applying for credit cards.”
To get the lowdown on how to maximize your money abroad, put McMullen’s advice to work.
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