When Using Credit Cards Abroad, Communication Is Key
In the interests of protecting against fraudulent credit card usage, many banks are getting proactive. Overseas, where the crime has apparently run rampant, banks are now blocking legitimate cards at even a hint of suspicious activity, according to an interesting new article on British financial site ThisIsMoney.
International credit card fraud has been a tremendous problem, and it’s not getting better anytime soon. Reports say the problem seems most significant in the United Kingdom — we’re talking about hundreds of millions of dollars. There are entire crime rings dedicated to this around the world, and international enforcement is difficult, to say the least. Hopefully, by the banks taking matters into their own hands, it will deter criminals somewhat. However, it can also create serious headaches for travelers.
The following steps can provide smooth overseas financial transactions:
Talk to your credit card issuer. Let them know you will be traveling and making purchases overseas. This way, they won’t be caught off guard and become unreasonably suspicious.
Mix it up. Pack a variety of debit and credit cards, and mix it up with cash for a backup plan. You might even consider a prepaid card loaded with the currency of the country in which you will be traveling, ThisIsMoney advises.
Write down phone numbers. Just in case you and your credit/debit cards become separated, write down the customer service phone numbers and keep them in a safe place. These numbers can be found on the backs of the cards or on your monthly bill. You might also want to write down the three-digit security code found on the back of your card for verification purposes, should you need to call customer service. Most should be okay with just hearing your social security number, however.
Research your company. Make sure you know your credit card issuer’s policies on card replacement and other fraud issues. It’s certainly nice to have 24-hour emergency card replacement, in the event your card is stolen or swallowed by an ATM machine.
August 9th, 2008 at 12:22 am
[…] ARTICLESTOUR.COM wrote an interesting post today onHere’s a quick excerptWhen Using Credit Cards Abroad, Communication Is Key By Hayli Morrison August 8th, 2008 Posted in credit card fraud, credit card security, identity theft, Credit Card Tips In the interests of protecting against fraudulent credit card usage, many banks are getting proactive. Overseas, where the crime has apparently run rampant, banks are now blocking legitimate cards at even a hint of suspicious activity, according to an interesting new article on British financial site ThisIsMoney. Internat […]