Forex card or credit card? – Which is better while travelling abroad

When travelling abroad, one of the major financial concerns is how you should carry your money safely. There are several options, including cash and debit cards, but the most secure choices come down to forex card and credit cards. Of these, the former is the smarter and more affordable choice.

How is a forex card any different from a credit card?

In simple terms, it is an international prepaid card that can be used to carry multiple currencies during travel. Since it has a chip and a unique pin, your money will remain just as safe as in the case of credit cards. Like a credit card, you can use it to make payments at all local vendors. There are single and multi-currency options to choose from, so the card comes extremely handy if you are planning to visit several countries during your trip.

Should I use a forex card instead of a credit card?

Although, in essence, the two kinds of cards serve the same purpose, there are quite a few significant benefits of using a forex card to cover all expenses while travelling. Some of the crucial areas in which a credit card falls short are:

  • Overall expenditure – A credit card does not allow you to carry multiple currencies at once. So every time you visit a new country with a different currency, you have to exchange the money at the prevailing conversion rate. It can be very expensive and time-consuming to go through the conversion system every time you make a purchase.

  • Cash withdrawal – A credit card cannot be used to withdraw cash at all ATMs, and the ones that have this provision may not always be compatible with your card. On the other hand, a forex card doubles up as a debit card. You can use it to swiftly withdraw cash from any ATM at very nominal prices and get all your payments done smoothly.

  • Withdrawal fee – Even if you find an ATM that accepts a credit card, the withdrawal fees can be exorbitant. You also have to pay the charge for the conversion rate, which only increases the total amount you have to pay. If your trip is for more than just a few days, then withdrawing cash from the ATM with a credit card repeatedly will become unaffordable.

  • Unstable exchange rates – Another major disadvantage of using a credit card while travelling abroad is that you might have to pay higher charges every time you make a purchase. The amounts you incur will rise rapidly on occasion with fluctuating exchange rates. Using a loaded prepaid card ensures that you do not have to pay extra money to keep up with the forex rate.

  • Late payment charges – If you plan to travel for several weeks and have a hectic schedule, keeping a credit card increases the risk of incurring late payment fines. You might be travelling in an area with a poor network connection, or you may just be too busy to meet all your deadlines. Having a prepaid card ensures that your money is always safe, and you never have to worry about forgoing large amounts due to late payment.

  • Bank account link – Credit cards must necessarily be linked with a bank account. Prepaid cards offer greater flexibility in that you do not have to have an existing bank account to use one.

    How can I get a forex card to cover my travel needs? 

    You can apply for a personal card at banks or private financial organizations. Opting for a private service might be the better choice because you have access to all the best deals, and your case is dealt swiftly. If you urgently require a card for your travels, it is recommended that you go through a private institution. While choosing a card provider, you should ensure that the company offers the following services:

    • The service must have a very strong customer support system. In case you face any difficulties with your card while travelling abroad, you must be able to access their expertise freely.
    • Their services must be transparent. Managing finances while travelling abroad can be a daunting task, so you need a professional and secure service provider that makes the process easy to handle.
    • You should choose a reputed company which offers the best deals. Living and travelling abroad is an expensive affair because of the high conversion rates. While getting a prepaid card, you need to ensure that the card provider makes your trip more affordable.

    forex card can make your travels much more cost-efficient and hassle-free. While planning your trip, it is essential to figure out your finances and spend wisely. Contacting a private card provider and getting their assurance can ease most of your troubles and make your journey financially secure.


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