Are you planning to travel out of the country? Carrying hard cash when you are travelling isn’t a recommended option due to security reasons. What can be the alternative for this? Carrying a credit card of Indian origin? Sure, credit cards can be a safe option to access your money in foreign countries due to the ease of carrying it around.
From another perspective, using an Indian credit card in foreign countries will lead to particular charges just because they are international transactions. Unlike the earlier days, most Indian credit cards are now accepted worldwide. The issue is with the currency conversion.
What you must know before using credit cards for overseas transactions
It is recommended for you to use prepaid forex cards to make foreign transactions. As they are pre-loaded, it facilitates you to access cash in the required foreign currency without additional markup charges. There are provisions for you to top-up the card with more funds as and when required. You may still hold onto the credit card for use in emergencies.
For any clarifications/feedback on the topic, please contact the writer at apoorva.n@cleartax.in
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