A significant increase in international travel was recorded in recent years despite a global economic slowdown. According to data published, international tourist arrivals grew at 4% and touched 1.5 billion for global tourists. India has not been far behind in partaking in a share of such growth.
Now, while international travel remains popular, visitors also seek financing to back up such tours, be it for leisure or business visits. Various lending institutions are thus offering credit cards which have been designed specifically for international travels.
These cards come with several exciting benefits that enable the cardholders to save a substantial amount while travelling abroad.
For instance, one can benefit from reward programs on international flight bookings, luxury hotel bookings, and so on. Thus, it is a must-have for individuals who are planning to travel abroad soon.
Given below are some other reasons why one should opt for an international credit card while planning to visit overseas. Such features can make staying at luxurious hotels more worthwhile, alongside allowing users to reap multiplied benefits.
1. Accelerated reward points –
All credit cards come with an attractive reward programmer whereby users can earn reward points on their every transaction. However, with international credit cards, individuals can avail more reward points on transactions made abroad like luxury hotel bookings.
For instance, compared to regular spends where users can earn 2 reward points on every Rs.100, international holiday booking spends can earn users double such points per Rs.100 spent.
Furthermore, they can also earn substantial reward points on reaching spending milestones in a year and as a welcome bonus. The reward points are credited to the account of the cardholder.
As a result, one must know how to redeem their credit card reward points to avail discounts and cash backs on future hotel bookings, flight bookings etc.
2. Lucrative discounts –
Along with reward points, customers can also avail lucrative discounts and cash backs when booking luxury hotel rooms. Card issuers often tie-up with such hotel chains and offer accelerated reward points for purchases made with an international credit card.
3. Airport lounge access –
Besides facilitating ease of payment along with accelerated reward points on overseas hotel booking transactions, international credit cardsalso allow users to travel comfortably to and from their destinations. It provides users with complimentary lounge access at international as well as domestic airports for predetermined times along with unlimited paid access.
4. Easy EMI conversions –
Users can also further manage their finances utilized in such bookings by converting the bill to easy EMIs. Cards such as the Bajaj Finserv RBL Bank SuperCard allow customers to pay off the credit card dues by converting it into hassle-free and affordable EMIs.
Hence, you should know the crucial pointers to convert credit card purchases into EMIs to maximize card utility. Such conversions are also available for other big-ticket purchases.
Such card issuers also provide pre-approved offers on credit cards for an efficient less time-consuming application processing. These offers can be availed on other financial products too, such as business loans and personal loans. To check your pre-approved offer, provide only a few essential details like your name and contact information.
Other benefits of international credit cards
- Interest-free cash withdrawal
In some cases, while travelling abroad, you may need ready access to cash. Accordingly, some international credit card types also allow users to withdraw money from an ATM without paying any interest for up to 50 days.
- Emergency loan
While visiting an international destination, customers may encounter situations such as an accident or a medical emergency when they need access to a considerable amount of funds within a short time. International credit cards allow users to avail emergency loan against the available credit limit on their card for an interest-free period of 90 days as well.
However, while applying for an international credit card, customers should also be aware of other fees and charges. Some of them include joining fees, annual maintenance fees, cash advance fees, late payment fees, etc. Apart from that, customers also need to obtain a thorough idea of foreign currency transaction fees, which is the most important of them all, since it will be levied on every transaction made abroad.