Traveling? Don't Forget to Pack Plastic

Traveling? Don't Forget to Pack Plastic

You don’t need to bring wads of cash or even traveler’s checks in today’s global economy, just pack a credit card.

My mother is consistently blown away when she realizes I’ve flown home without a dime in my pocket. Wherever I travel I hardly carry more cash than what a cab ride will cost me. The only time I was really worried was when I flew into London's Heahtrow Airport without any coin of the realm – I wasn’t quite sure what I was going to do if I couldn’t find an ATM or if the Tube operators didn’t take credit cards.

Of course I was fine. I imagine that if you went on an African safari you could find a source of cash in the Sahara. And it turned out that the UK was more credit-happy than I'd have imagined. Truth is when you’re traveling it’s probably best to bring a credit card and a debit card and to leave the traveler’s checks at home.

If you're traveling to a foreign country you’ll save money by bringing a debit card and getting cash-back at a grocer versus going to a currency exchange at home and paying their outlandish fees. Even using your ATM card from home will likely be easier than the hassle of a currency exchange – especially if you're traveling to a number of different countries.

Using credit cards abroad also saves you having to decipher all of those strange coins in your pocket. Any foreign traveler will tell you that they end up bringing home tons of spare change they don't need – all it's good for is gifts for distant family members you forgot before you returned home.

Of course, whenever you're traveling you're in a setting with which you're unfamiliar – which makes you a mark for thieves. Sue Lynn Sassler, an economist at Texas A & M University suggests a few things to keep in mind for credit safety while traveling.¹ These include:

• Bring only the cards you plan to use and leave them in a safe place – not the hotel.
• Bring the addresses and phone numbers for your credit card companies in case your cards get stolen.
• Use your card with the lowest interest rate first

I'll add to that list: if you’re taking public transportation, find out before you leave if you can use a credit card. If not, bring a couple dollars with you or scout out ATM locations. Just because I didn't get stranded doesn't mean that you will be as lucky.