Credit cards have been in circulation in the Indian market for a long now, easing the payment system significantly. One can further make these transactions in India as well as abroad. Likewise, globalization has also enabled the use of international credit cards in India now.
This variant of credit card is specially designed to make international transactions easy, and hassle-free. So, once you have availed of such a card, you can make convenient transactions just like a domestic card. Nevertheless, rules related to charges on such cards are different.
Points to consider before availing of an international credit card
These cards are regarded as suitable payment tools for traveling abroad owing to the convenience they offer. Nevertheless, before availing of one such card, you need to consider the following pointers to make an informed decision.
- Foreign transaction fees
Credit card providers charge a processing fee for dealing in other currencies. Typically, it is around 2% – 3%. However, some financial institutions may offer foreign transaction fee waiver on their cards.
- Insurance coverage
While selecting an international credit card, you need to check if it offers travel insurance cover or not. It saves you from buying a separate insurance policy. Moreover, with such a coverage plan in place, you can manage any unforeseen incidents during their travel.
- Reward points
It is imperative to check the reward program of this payment option before availing of one. The reward points that accumulate over time can be redeemed to avail better offers on future transactions. Hence, the right card can help save substantially.
Also, credit card providers come affiliated with various brands. If you shop from them or avail of their services, you can get exclusive discounts, accelerated reward points, and many other benefits.
- Additional fees
Every credit card has multiple additional charges associate with it, and international credit cards are no different. These extra expenses include joining fees, annual fees, late payment charges, etc. Therefore, you must consider them to avoid adding to the cost of using this payment card.
- Customer service and support
Another significant point to know here is the presence and extent of customer service and support it can offer. When an international user is in the country and faces any emergency, he/she can access round-the-clock service if the need be.
Moreover, based on the card you select, you can receive amenities such as emergency financial assistance, quick card replacement, medical assistance, etc.
- Eligibility norms
Also, it is imperative to check the associated eligibility criteria. Otherwise, your credit card application can be rejected. Since every credit card provider has different eligibility terms, you should go through them carefully.
If you are planning to avail of credit cards in India, which you can occasionally use on your foreign travels as well, opting for the Bajaj Finserv RBL Bank SuperCard should help. These payment tools provide the benefits of 4 cards into 1. Also, on ATM withdrawals, you can enjoy an interest-free period of up to 50 days.
Additionally, the pre-approved offers extended by the card provider streamline the loan application process and save time. These offers are available on several financial products like personal loans, business loans, credit cards, etc. You can check your pre-approved offer within seconds by submitting your essential contact details like name and phone number.
International credit cards are an ideal financial tool to accompany as they also come with attractive benefits. They typically offer ease of payment by allowing users to skip the queue in currency exchange. Moreover, with regular and timely bill payments, you can use such a credit card to improve your credit score.