When you’re traveling out of the country– in some Spanish-speaking country no doubt– you probably use a credit card. I know I do. Nobody these days carries large wads of cash, and somehow traveller’s cheques are not quite as convenient as plastic, especially for things like making phone reservations.
But if you do use your credit card, use it sparingly. Most credit card companies add a surcharge of about 2% for the privilege of making a purchase in a foreign country. If you add this to Visa and Mastercard’s 1% “currency conversion” charge, you’re out $3 for every $100 you spend. Although this might not sound like a big deal, it can add up, and it’ll come as a surprise if you aren’t expecting it.
If you do a lot of foreign travelling, you probably want to find a bank or credit card issuer that doesn’t charge extra for out-of-country purchases, leaving you only with the 1% currency conversion fee.
Just thought I’d let you know so you won’t be surprised like I was.