Avoid Bank Fees and Save when You Travel

February 13, 2013 by

Vacation Money

Don’t waste your vacation money on bank fees.

Credit and debit cards have reduced the risk of losing money when traveling, but the bank fees can really add up and siphon away your hard-earned vacation funds.

With a couple of easy changes, you can eliminates many extra fees and still enjoy the convenience of a credit card as you travel. 

Credit Cards with Less Fees and Rewards

To avoid paying bank fees while traveling overseas, sign up for a Chase or Capital One credit card. 

Chase Credit Card: Chase provides the perfect option for international travelers with cards that charge no foreign transaction fees on credit card purchases made outside the United States.

They offer bonus points worth up to 7 nights free with their Marriott Rewards Premier Visa Signature Card, a Hyatt Credit Card that starts with two nights free at Hyatt properties around the world, a Ritz-Carlton Rewards card, as well as a Fairmont Visa Signature Card. All offer additional savings as you travel.

Capital One

Capital One Credit Card: Capital One charges no fees when using your credit card for foreign currency transactions. Foreign purchases are converted at the foreign exchange rate in effect when the charge is processed.

The Capital One Venture Rewards Credit card offers some of the best rewards when it comes to travel credit cards. Rewards include No Hassle Miles per each dollar spent, and a full 2% rewards rate.

If you don’t currently have a Capital One Venture Rewards card, the $59 annual fee is waived in the first year. Because this is a Visa Signature card, it comes with other perks extended to Visa holders.

Schwab Checking Account

Another way to save is to open a Schwab checking account. This is a way to save wherever you travel as all ATM fees are reimbursed each month. Reimbursements apply to cash withdrawals using the Schwab Bank Visa Platinum debit card wherever it is accepted. 

Bank fees add up as you travel. You can help keep that money in your bank account by using the right cards as you travel. 

Photo credits: Tax Credits, Eric Hauser

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