Industry News

26/04/2011 - The summer months are often the season for people to take a vacation overseas and take time from their busy lives to enjoy some new experiences. According to many finance experts, one of the best ways to pay for expenses during a trip is to use a credit card.

In a recent article on Savings.com, an employee for Card Hub writes that when consumers travel overseas it can save them time and money to use the plastic payment processing method because they won't have to bother exchanging large amounts of currency or figure out complicated exchange rates. People can also take advantage of credit card programs that do not have any foreign transaction fees associated with the process.

"Before going abroad, it's important that you also notify your issuer about your travel plans in order to decrease the likelihood of your card being mistakenly suspended for what the bank thinks is unauthorized use," the company wrote. "Also, ask for a customer service number you can call collect from overseas. In the era of smart phones and social media, this advice might seem a bit outdated, but trust me, it will help significantly in sorting out any credit card issues while you're abroad."

While customers can take advantage of deals from card companies, many will be paying more to travel, according to some experts. The Los Angeles Times reports that industry experts expect airfare prices to increase 15 percent from where they were last year.