always choose the local currency — image from blog.wandr.me |
Here are three tips to save big money on your next trip out of the country.
1. No-Forex. Make sure your credit card does not charge foreign exchange fees. Did you know that most credit cards tack on an extra 3% whenever you use your card outside the country? Fortunately, the solution is simple: get a No Forex credit card. While many no-forex cards come with annual fees (which may be worthwhile if you're collecting points, etc.), others are absolutely free — including some cards from Bank of America and Capital One.
2. Beware DCC (dynamic currency conversion). When paying your bill at a restaurant, hotel, or store, the credit card machine will often display a screen giving you the option to pay either in US dollars or the local currency. Always choose the local currency. Why? because Visa, MasterCharge, or Amex will always offer a much better exchange rate. If you choose to be charged in US dollars, you'll get a lousy conversion rate, paying as much as 5% more. And you'd still be subject to forex fees (unless you have a no-forex credit card) as the charge was made outside the US.
3. Virtuoso. Breakfast in a luxury hotel can cost you 35-50€ per person. Every day. You can save hundreds of dollars per hotel stay simply by booking through a Virtuoso travel advisor such as Ourisman Travel. It won't cost you a dime more, and you get:
- daily complimentary breakfast for two
- a unique amenity for each hotel (often a food & beverage credit) valued at $100 per stay
- free internet access
- an upgraded room if available at check-in
These three tips will save you hundreds of dollars on a typical trip out of the country.
copyright (c) 2017 by Ourisman Travel LLC. All rights reserved. We provide Virtuoso and other Preferred Partner amenities as an affiliate of Brownell, a Virtuoso® Member. If you have comments on this column, or questions about booking travel, email me or visit my website.
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