The introduction of international credit cards has amplified the convenience of spending during overseas travels. Individuals can now put in a request to their credit card issuer and make their regular cards compatible for abroad usage. Hence, one can easily use his/her Indian credit card in any other country without any hassle.
However, such usage comes with additional liabilities and payment responsibilities. Hence, before using an Indian credit card for international payment, one needs to acquire the necessary details.
Points to know about the use of credit cards for international transactions
- When using payment gateways based outside of India, users may not require an OTP authentication, as the RBI mandate of 2-point authentication binds them. Therefore, one needs to be extra careful while shopping from international websites.
- According to the RBI norms, every credit card issuer can enable or disable the international transaction facility. Also, users can make transactions in foreign currency and then pay the bills generated in Indian currency.
- When enabled, international credit cards allow customers to set their transaction limits.
- Using credit cards for overseas expenses incurs foreign transaction fees for every payment. Since individuals are converting Indian currency into a foreign one, the card issuer levies these charges.
- Lastly, individuals need to notify their credit card issuer about their foreign travels and the use of their payment cards abroad.
Benefits of using credit cards internationally
- Seamless transactions
With international credit cards in place, individuals can now skip the queue in currency exchange counters. They can simply pay for all their expenses by using this payment card without any interruptions.
- Emergency cash advance
In case users face any liquidity crisis, they can use these payment cards to withdraw cash from ATMs too and meet their requirements. Nevertheless, such transactions attract considerable charges.
- Earn accelerated reward points
Several credit cards in India are available that allow users to make overseas transactions. When used abroad; these cards typically accumulate accelerated reward points. Even though individuals are liable to pay specific fees, the benefits they receive in return incentivize such use.
- Emergency assistance
In an emergency, one can call the credit card issuer’s helpline number and avail immediate assistance. They can thus provide financial help to arrange tickets and accommodation, provide quick card replacements, medical help if required, etc.
The benefits of international credit cards make them ideal travel partners for users. Nevertheless, individuals need to keep in mind the following pointers to choose the right credit card for themselves –
- Foreign transaction fees: Various are credit card issuers levy nominal additional charges for such transactions. So, you can keep an eye out for that when selecting a credit card in India for international use.
- Insurance plans: Typically, these payment cards also accompany travel insurance covers to make international trips hassle-free for users. Hence, you need not avail such an insurance plan separately.
Individuals planning to avail of credit cards that they can use both in India and abroad can opt for a card like the Bajaj Finserv RBL Bank SuperCard. The card’s international variants offer benefits like emergency loan against the credit limit, attractive reward points, notable insurance coverage benefits, etc.
Moreover, the card provider’s pre-approved offers further streamline loan processing and help save time. These offers are available on personal loans, credit cards, business loans, and several other financial products. Check your pre-approved offer by submitting your essential contact details.
International credit cards can be a great partner when traveling abroad. Moreover, they can be used domestically as well, which further increases user convenience. Further, individuals can now quickly apply for a credit card online in just 3 steps and avail its benefits.
