Planning a trip abroad soon? Don’t forget to get yourself a Credit Card before you set out. Check out these amazing cards!
Most people tend to be sceptical about using a Credit Card abroad. Little do they realise what they are missing out on. Of course, there are some negative beliefs regarding the use of Credit Cards while travelling abroad, like overspending, hefty fees applied by banks, and fraud. But if you are careful about where you swipe your card and keep a check on your spends, you can actually benefit from using your Credit Card while travelling abroad.
Let’s discuss some common pros and cons of using a Credit Card abroad, shall we?
The PROS
- Convenience at its best. Your plastic mate rules out the need to carry chunks of cash in your pocket. Also, you wouldn’t have to run around trying to change currencies.
- It’s more secure than carrying cash. Your Credit Card will provide protection against fraud. And some card issuers also offer services like liability protection and the card cancellation in case your card gets stolen.
- You can expect a way better exchange rate than you’d get from ATM withdrawals.
- Travel insurance is offered by most card issuers. Although this doesn’t apply to consumer purchases, lost luggage and travel delays qualify for this.
- The opportunity to earn big rewards and discounts.
The CONS
- There are chances that not all merchants abroad accept card payments. Cash will be the only option to transact in these situations.
- The international transaction charges on some Credit Cards is steep. But, you can avoid this by choosing a card that comes with a low FOREX mark-up.
- Since there is no set limit on spending, of course, other than your credit limit, it is easy to overspend with a Credit Card.
Additional Reading: Planning To Get A Travel Credit Card? Few Things You Must Watch Out For
Well, the pros easily outweigh the cons. Taking into consideration benefits such as discounts on travel bookings, travel insurance, check-in privileges, lounge access, shopping discounts, low FOREX mark-up, etc., we’ve identified four Credit Cards that’ll help you make the most of your money while travelling abroad.
HDFC Bank Regalia Card
Travel benefits:
- Lowest foreign currency mark-up fee of 2% on all international transactions
- 12 complimentary lounge access per the calendar year via Regalia Visa/Mastercard Credit Card Lounge program. T&C apply
- Priority Pass membership with access to 1,000+ airport lounges across the globe. T&C apply
- 24/7 concierge service
Other benefits:
- Complimentary Zomato Gold Membership: Enjoy dining privileges with 1+1 on food and 2+2 on drinks. T&C apply
- 4 reward points for every Rs. 150 spent
- 2,500 reward points on paying the joining fee
- Best-in-class rewards redemption rate. 1 point = Rs. 0.5
- Up to 15% discount at 3,000+ restaurants
- Fuel-surcharge waiver of Rs. 500 every billing cycle
Annual fee: Rs. 2,500. Waived if new Current/Savings Account is opened or on spending Rs. 3 lakhs within 12 months
Kotak Royale Signature Credit Card
Travel benefits:
- 4X reward points for spends on special categories. Special categories include hotels, restaurants, travel agencies and tour operators, package tour operators, airlines, air carriers and international spends
- Complimentary lounge access
Other benefits:
- Fuel surcharge waiver applicable on transactions between Rs. 500 and Rs. 3,000
- Railway surcharge waiver for transactions via IRCTC website and at Indian Railways booking counters
- No first-year fee
Annual fee: Rs. 999. Waived on annual spends > Rs. 1 lakh
YES First Business
Travel benefits:
- Foreign currency mark-up of 1.75%
- 3 domestic airport lounge visits per calendar quarter via the Mastercard Lounge Programme
- 6 free international lounge visits per the calendar year with Priority Pass for the primary cardholder
Other benefits:
- Lifetime free
- Up to 8 reward points for every Rs. 100 spent
- 24,000 points on the first transaction within 30 days
- Fuel-surcharge waiver across fuel stations in India
- Free golf lesson every calendar month
- 1,000 points on each YES PayNow registration
- Special offers on dining, shopping, travel and more
Annual fee: No fee
Axis Bank Privilege Credit Card
Travel benefits:
- 10 points/200 spent on both domestic & international spends
- Complimentary access to select MasterCard lounges twice per every calendar quarter.
Other benefits:
- Convert your Credit Card purchase of 2,500 or more into EMI
- 1% Fuel Surcharge Waiver on monthly fuel spends
- Vouchers worth Rs. 5,000 every time you spend Rs. 2,50,000 on your card
- 15% off at selected restaurants
- Complimentary insurance cover worth Rs. 2.55 crore
- Milestone benefit – Double the benefit on spends of Rs. 2.5 lakhs by converting your earned eDGE points to Yatra vouchers worth twice the value
- 12,500 eDGE points as joining gift on paying the joining fee of Rs. 1,500 and completing three transactions within 60 days of card setup
Annual fee: Rs. 1,500
Additional Reading: 5 Amazing Ways You Can Use Your Credit Card To Travel On The Cheap
So, which card are you going to pick from the lot? Or would you like to take a look at a few more cards before you choose one? Just click the link below and explore your options.