Nov 122019

Credit Card Spending While Traveling Abroad

Posted on November 12, 2019 Uncategorized


At Polam, we have a significant number of members who enjoy traveling abroad, whether it’s to their native Poland or simply anywhere around the world. Of course, visiting countries overseas requires a bit of prep, even for experienced travelers; obtaining a passport, making solid plans once you’re overseas, and ensuring your affairs and home and work are in order while you’re gone. However, there’s one very important element that needs to be considered as you travel abroad – your finances and plans for spending while traveling.


While traveling can be fun, it can also be stressful, especially for first-time travelers who are unsure about how to spend their money in a different country. However, using Polam’s VISA credit card, you won’t have to worry about losing cash or having it stolen. Here’s what you should do before leaving:


  • Notify our team at Polam about your upcoming travel plans.  Of course, this also applies to any other credit cards you might have. However, when you’re a Polam VISA credit card holder, be sure to let us know so we can put a travel note on your account, in case there’s a blockage on any foreign expenditure you make. It lets us know that your account is safe and not in the hands of identity thieves.


  • Review your foreign transaction fees.  Again, if you hold additional credit cards, contact their HQ or visit their website to make sure you’re aware of any foreign transaction fees you might accrue while traveling. With Polam’s VISA credit card, we only charge a 1 percent fee on foreign transactions. However, keep those fees in mind, as they can easily add up.


  • Pay attention to conversion rates.  Whether you’re visiting one country or experiencing many others, understanding the country’s conversion rates is a necessity. It’s easy to understand how the U.S. dollar spends, but when you’re overseas, it will definitely change. Some merchants, depending on what country you visit, will allow you to pay in either their currency or the U.S. dollar, but it’s not something you should rely on. We definitely recommend spending with the currency in the country of which you are in.


  • Plan ahead for your travel budget.  This is obviously a very important step before you get on a plane and visit another country. Although you may want to spend more freely in a new place, you should definitely take note of the conversion rates and foreign transaction fees and incorporate them into your budget. One big thing you want to avoid is coming home and finding you spent more than you should have.