Lowest debit card and credit card options for foreign travels- Experience the difference

by admin on May 12, 2011

If you are planning to travel abroad, one of the crucial question comes to your mind is how much you have to pay for using credit card for doing purchases and ATM transactions in a foreign country. The moment you swipe your credit card overseas to make a purchase, a foreign transaction fee will be applied for the currency conversion. Moreover, many banks go one step ahead and along with the 1 percent foreign transaction fees, add their own fees as well. As a result you receive a mild heat attack when you see the total fee on your bill statement. In fact sometimes these credit card debts compel you to file for a debt relief programs as well. The best way to evade such situation is to find the debit card or the credit card which charge lowest transaction fees when you use them on ATM abroad. Read on to find the list of best credit cards and debit cards which offer you the best deal while traveling abroad on holiday or business.

Debit card

Using debit card is more expensive in comparison to Credit card in abroad there fore it is advisable that you should prefer to use credit card over debit card while you are away. However if it is too difficult, you can carry a Nation wide debit card from nationwide. Here every time you load money you will get charged a 2 % fee but they don’t charge you on debit card purchases made abroad. With a flat £1 per cash withdrawal on ATM usage overseas, this card seems to offer the best deal. First direct debit card is regarded the second best debit card with a 2.75% loading fee which is slightly higher than the nation wide debit card. With minimum £1.75 and maximum of £5 withdrawals fees, First-direct debit card is undoubtedly a profitable choice.

Credit Card

Halifax clarity is considered the best credit card with the lowest interest rates and 0% cash withdrawal fee and 0% spending fee load. You can certainly save on transaction as a low interest rate of APR of 12.9% is applied for this credit card. Santander’s Zero credit card offers 0% on spending fees and also 0 cash withdrawal fees. Though the APR is slightly higher here almost 27.9%, you can certainly save a considerable amount of money on your ATM transactions fees here.

To conclude, you can certainly save a lump some amount of money by picking the right card that charges the lowest fees on ATM or purchase transaction you make while overseas on foreign countries. Keep in mind the above mentioned points and evade returning from a journey with a dent in your wallet. Remember, no matter what you choose debit card or credit card, your travel dates should be informed to the card issuer so that your card won’t get declined when you use it on foreign soil, otherwise spending activity in an unknown location can make the bank assume that your card has been stolen.

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How to Protect Your MasterCard Debit Card

by admin on July 22, 2009

When you use a MasterCard debit card, you enjoy plenty of benefits. However, you do need to take few steps to protect your new account. Remember that a debit card is like a blank check, so you need to guard the card and the account number carefully against loss or misuse. A thief can clear out the bank account that is linked to your MasterCard Debit Card before you even know your card is missing.

If your debit card is lost or stolen, or if you think someone is using it fraudulently, call your bank immediately. Follow the phone call with a letter.

Thieves don’t even need your card. As long as they have your name and card number, they can order goods by mail or over the telephone. They can wipe out your bank account before you know the card is missing, or even when you still have the card in your pocket. Protect your debit card by holding on to your debit card receipts and check them against your bank statement each month.

Memorize your PIN but don’t keep it with your card. Don’t choose one that a smart thief could figure out, like your phone number, address, birthday or part of your Social Security number. Never give your PIN to anyone.

The need to protect your debit card is reduced by the amazing “Zero Liability” promise made by MasterCard for all debit card holders. Here’s how MasterCard puts it:

Have peace of mind knowing that the financial institution that issued your U.S. MasterCard card won’t hold you responsible for “unauthorized purchases.” Zero liability applies to purchases made in the store, over the telephone or made online. As a MasterCard cardholder you will not be responsible in the event of unauthorized purchases provided that the following preconditions are met:

* Your account is in good standing.
* You have exercised reasonable care in safeguarding your card from any unauthorized use**. Unauthorized use means that you did not provide, directly, by implication or otherwise, the right to use your card and you received no benefit from the “unauthorized” purchase.
(**Failure to register certain cards will be considered as not safeguarding your card.)
* You have not reported two or more unauthorized events in the past 12 months.

Zero Liability does not apply to MasterCard cards
(i) issued for commercial, business or agricultural purposes, except for MasterCard commercial cards used for small businesses as listed on www.mastercardbusiness.com; or
(ii) if a PIN for a debit transaction is used for the unauthorized purchase.

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Debit MasterCards — What are the Advantages?

July 22, 2009

MasterCard Debit Cards have LOTs of great advantages. Here are a few of the benefits you may enjoy:

MasterCard Debit Cards are easier to get than a credit card. (there is usually no credit approval process).
You don’t have to get your check approved or show identification at stores. (you can just swipe your [...]

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Debit Cards and ATM Cards — What’s The Difference

July 22, 2009

The common attribute of all ATM and debit card transactions is that the transaction is directly linked to the consumer’s bank account—that is, the amount of a transaction is deducted (debited) against the funds in that account.
An ATM transaction typically involves withdrawing cash from an ATM machine. The consumer presents an ATM card, which is [...]

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