Tips/Safety – Page 5

There are many worries when planning a solo trip for the first time. But one of the most concerning self-debates deals with credit cards and whether or not they’re indispensable for the journey. So, do you really need a credit card when traveling solo? You need a credit card for much faster and easier transactions during solo travel. For example, when going abroad, your local cash may not be acceptable, unlike certain cards that are accepted worldwide. Moreover, certain travel cards may offer better exchange rates and bonuses for their usage. Read on to learn more benefits of traveling solo with a credit card and the potential drawbacks. Why You Need Your Credit Card for Solo Travel The financial aspect of any trip is arguably the most important. And during solo trips, there's no one to turn to if you face any difficulty in this regard. Therefore, it's crucial to prepare yourself if you want your vacation to turn out successful. Credit cards are usually the first and most compelling option for transactions. But, if you're still contemplating leaving it behind, consider the following benefits you'd miss out on. Credit Cards Have Wider Acceptance First-time solo travelers will likely take local cash when leaving their credit cards behind. Unfortunately, not all large establishments abroad can accept them. Such travelers will need to convert it to the resident country's currency. And that adds more stress, which can even be worsened if you're in a non-English-speaking nation. However, with certain crest cards, you can make transactions almost anywhere and anytime, especially a Mastercard or a Visa. There'll be no need to stop at banks all of the time to exchange your currency for the local one. Credit Cards Offer Better Exchange Rates Not only is marching from one bank to another for a currency more stressful, but it could be more expensive. And you want to avoid unnecessary expenses as solo travel can be costly. Learn why in my full guide on the topic. [Here's How Much It Costs to Travel Alone (Breakdown)] Some financial institutions offer better exchange rates when converting foreign currencies with their credit card, while others don't even charge. Those that charge usually keep it between 1% and 3%, which is mostly less than that charged by banks. However, that may not always be the case, so always look at your card's policies or inquire from your card issuer before taking your trip. Credit Cards Have Reward Perks Still discussing the more inexpensive option, travel card issuers usually host reward programs to subsidize costs. And these can go a long way towards your savings. For example, The Chase Sapphire Preferred Card is among the most popular for its travel reward program. Users will earn five points per dollar on travel bought through Chase Travel, three per dollar on dining and grocery shopping, and one per dollar on anything else. You can use these points to pay for products or services. Depending on the available option, they can also be redeemed for cash and gift cards. That's just one of the many rewards Chase offers; you can't access them without a credit card. Credit Cards Offer Flexibility and Convenience In a world where almost everything has gone digital, many financial transactions may solely be online. From booking flights and subway tickets to paying for lodges, it’s more flexible and convenient with a credit card. But with cash, you stand a chance of becoming stranded if service payments must be made with a card. And the fact that you're alone on the trip means you can't get help ASAP. Even before setting out for the journey, some expenses like before-hand reservations can't be paid in cash because the lodge is probably miles away. Credit Cards Give You a Sense of Security When traveling solo, it's essential to feel safe wherever you go. But that may not be the case when you're holding considerable amounts of cash, and understandably so, since you could become a target for thieves. However, you'd feel less paranoid when carrying plastic around. If you ever get robbed of your credit card, you can quickly freeze it on the company's website or app. And you won't be liable for any fraudulent charge, if any. But, if your cash gets stolen, you can only report it to local authorities, leaving you alone and considerably helpless. And, unfortunately, there's no guarantee they'll recover it. Credit Cards Leave You Prepared for Unexpected Expenses Even when traveling in pairs or with the whole family, it's always advisable to be ever-ready for any charge. Cash is always limited, except when extensively planned for, as it could run out. However, you'll always be ready for unexpected payments with credit cards. You can also easily access loans your issuer may provide on inquiry, which gives you more peace of mind throughout the trip. Possible Drawbacks of Taking a Credit Card When Traveling Despite the multiple benefits of taking credit cards along on your solo trip, you may have good reasons to be skeptical. Even if it isn't your first time, there are still considerable setbacks to be aware of, and I'll discuss two of these setbacks below with simple suggestions to prevent or solve them: Your Credit Cards Can Get Stolen or Misplaced One of the worst fears for solo travelers is losing credit cards on the trip. Not only do they stand the chance of being stranded in a foreign place, but those cards in the wrong hands could further lead to all sorts of problems. Being more vigilant and protective of your cards is the best solution, but it’s also highly advisable to travel with cash in hand. Moreover, when you've noticed that it's missing, immediately freeze it via the issuing company's website or app, or call and report it to their customer care ASAP. Not Every Place Will Accept Your Credit Cards Small merchants, from roadside vendors to food stands, may not accept credit cards for payments. And this could be a huge setback if you don't have any cash. If you're ever stuck in this dilemma, you'll need to withdraw some cash from a nearby ATM. But as suggested, I still don't advise you to start any solo trip totally cashless. Traveling alone can be more expensive than you think. I’ve explained why in a separate article. Don’t miss it! [XX Reasons Why Solo Travel is So Expensive] Conclusion There are many advantages of taking a credit card along during solo travels, including: It’s more widely accepted. It has better exchange rates. It cuts down costs from reward programs. It offers an improved sense of security Conversely, you may be too afraid to lose the card, and small merchants may not accept card payments. So, I advise you to always take some cash, even with a credit card.