Benefits of Using a Travel Money Card Over Using Your Own Credit Card

by Richa Sharma content marketer

Planning to travel overseas, and wondering what’s a better option, your credit card or a travel money card? You don’t have to keep rushing to money exchange locations for every transaction when you are abroad; instead carry a multi-currency forex card, especially if you are travelling to multiple countries, within Europe, for example. The options are plenty; you could carry a HDFC bank forex card, an ICICI bank forex card or an Axis bank multi-currency card. You don’t have to constantly worry about money exchange, and instead carry a small amount of foreign exchange from India. Read on for more on the benefits of using a travel money card over your credit card.

One of the biggest benefits is that by getting a forex/travel card you are safe from the fluctuations in the currency value; the value of currency you are loading on that specific day will remain the same throughout your trip. This means you don’t have to constantly fret over changing values and travel peacefully. You also don’t have to keep rushing to money exchange locations to check varying rates. When you carry a credit card, the highest currency rate on the day of the transaction gets reflected in your statement.
With an option such as an ICICI bank forex card, HDFC bank forex card or Axis bank multi-currency card, you have the advantage of loading multiple currencies.
While withdrawals at ATMs through a forex card will mean you have to pay withdrawal fees, you may not have to do so at merchant outlets. You can make the most of a forex card by using it at PoS terminals rather than withdrawing hard cash from an ATM.
When you carry a multi-currency forex card for your holiday, it allows you to plan your budget well because you know exactly how much you have, and how much you can spend, and also don’t have the hassle of accounting for currency variations. Planning trips on a budget becomes easier than when you use a credit card.