Consider When Choosing an International Credit Card

  • by Jaylin Khan

March 12, 2020
credit-card

An international credit card is a financial tool which allows a borrower to make transactions overseas with minimum charges. For borrowers who are keen on travelling or have to travel due to work should apply for such plastic money and avail various beneficial features like airport lounge access, reward points for transactions made overseas.

Before applying for such cards, an individual should consider a few factors to avail the best deals. The factors are as follows –

Foreign transaction fee

It is a fee which is charged over every transaction one makes abroad using their international card. Such charges are called foreign currency conversion fee, which is implemented because the user’s transactions are happening on foreign soil. According to a financial institution’s rates, the fee differs.

Card options

Features of every international card differ, and an individual should compare between the available options to avail the best offer. Few financial institutions provide reward programs which further benefits their customers.

International chip and PIN

This is a part of a credit card system which is also referred to as EVM chip, Euro pay or Mastercard. Such chips originated in England; nonetheless, it is now integrated into plastic money all over the world. Consider applying for such a credit card for added security with the card.

Check your CIBIL score

Before availing an international credit card, an individual must check their CIBIL score. A CIBIL score or a credit score is a 3-digit expression which ranges from 300 to 900. This expression is opted by different financial institutions to determine an individual’s creditworthiness. A borrower should hold a minimum score of 750 to avail the card; otherwise, they may face some difficulties or rejection with their application.

Cash withdrawal at an ATM overseas

An individual should consider the advantages they can avail by applying for an international credit card. The best international cards offer a hassle-free transaction, and it also enables an individual to withdraw from an ATM during an emergency. Therefore, it is considered beneficial to carry credit cards in your pocket.

Though these features help an individual to meet their financial requirements during an emergency, they are not interest-free. Hence it is advised that a user should avail a card after going through different terms and conditions of their issuer, especially the applicable interest rates.

Offers on travel and hotels

Another point of consideration is the discounts one can avail with the international credit card. Make sure you opt for a card which offers financial benefits based on the type of transactions you are more likely to use in it.

Airport lounge access

One of the credit card benefits every traveller should consider before availing a credit card for international usage is whether they can avail lounge access facility or not. Such financial tools enable an individual to avail free access to different amenities at an economical price.

Accelerated reward points 

It is considered that the best international cards offer an accelerated rewards points to their customers on international transactions. Such reward points can be redeemed as coupons or vouchers. In some cases, financial institutions allow their customers to redeem such points as airplane tickets which further economises their expenditure over travelling.

Other than considering various factors before availing an international card, an individual can opt for a RBL Bank Credit Card which comes with multiple financial functions and benefits other than attractive interest rates.

By considering the above-stated factors, an individual can avail an international credit card and enjoy the associated financial benefits. Refer to leading financers for the most beneficial credit card available on the Indian market. Maintain a high credit score to apply successfully.