Credit cards, a better way to pay?
I use my credit card much travel as I map Desjardins Odyssey Gold which gives me 2% reward points on my purchases. Of course, I pay a fee, but they are lower than what I would pay in Interac fee and the rate of conversion is interesting. In sum, there is no way to completely avoid the fees, but by amalgamating the various options, it is possible to minimize them. So the credit card prevents me to withdraw money and pay a withdrawal fee, I get 2% discount and ultimately, it often ends up costing me much less. However, check what the costs associated with buying abroad for your type of card are because they vary greatly.
While this is technically illegal, many merchants add additional costs (percentage of the bill) to your transactions paid with credit cards to cover what they owe them, pay to Visa or MasterCard.
To avoid charges of all kinds, make a larger than the amount due on your card payment. You will be able to make cash advances on your credit card in case of problems with your credit card. If you did not, but you find yourself in a situation where you need money quickly, know that there is an additional cost per day before repayment. So are removing and as soon as you have access to a Wi-Fi network, pay off your card by your web portal. You will reduce costs more than if you wait to receive your invoice.
Prepaid credit cards can also be helpful to avoid fees. By cons, ask about methods of coverage for loss or fraud, because the prepaid amounts are not always covered provided the transactions made by someone else.
According to the bank that issued the credit card, it happens that your exchange rate is calculated "oddly", that is to say, we will convert some currencies directly in Canadian dollars, but others will be first transformed in American dollars before being converted into Canadian dollars. So depending on where you go, it is possible that the rate is not as good as if you had changed the money into Canadian currency exchange.
Various tips for longer stays
Register your bills electronically controlled automatic payment (driver's license, insurance, registration, etc.). So you can handle it remotely as the person who receives your position gives you the number on the invoice received.
Maintaining a minimum balance (which you surely save at least for the first month), some banks waive the monthly fees ranging from $ 4 to $ 30, while it can be a significant amount saved over a year, that is at home or on the road.
Choose a minimal monthly fee since you will only very few transactions (withdrawals only). Some banks allow you to pay not only the transaction. Check the individual price and the price of the package and choose what is the best option for you.
Consider making a power of attorney at the service counter of your institution to someone you trust so that it can take steps on your behalf if something goes wrong while you're on the road. When my ATM card was cut while I was living in Germany, my mother was able to arrange a visa for me, reducing headaches and call charges. Thanks to mom, my new card was also able to more quickly routed myself through FedEx that the bank would have made!
Make sure your cards do not expire during your trip. If this is the case, you can get new before leaving or ask someone who will join you along the way to bring them to you. In my case, I had to make a map of a second institution to avoid problems, but I requested it too late, I had not received my real card before I left ... not much!
source: www.moimessouliers.org
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