New York Based Debt Collection Agency CEO Offers Credit Card Advice for Young International Travelers
Bohemia, NY (PRWEB) July 07, 2013 -- On July 7, 2013, John Monderine, CEO of debt collection agency, Rapid Recovery Solution, comments on steps students and recent grads should take in order to ensure their trip overseas is as enjoyable and stress free as possible.
A July 1st, 2013, article from Fox Business News, “4 Credit Card Tips for College Students Headed Overseas” outlines tips college students and recent graduates should adhere to in order to maintain good credit and avoid any financial entanglements while abroad.
While it is easy to overlook how international transactions can impact bank accounts and credit history, students and recent grads should make sure they do not become a victim of fraud, as Rebecca Hall, financial advisor with Ameriprise Financial explains, “It’s even more important when traveling abroad because you’re likely not familiar with the ins and outs of foreign banking systems and common practices in other countries.” College students are more likely to be taken advantage because they are young and inexperienced.
Here are a few things students and recent grads should keep in mind when traveling internationally.
• Alert your bank or credit card company about your trip abroad: Unusual spending behavior might send up a few red flags to credit card issuers. By telling them about your travel plans in advance, they will know your purchases are legitimate.
• Bring a diverse range of money resources: By using a variety of ATM cards, debit cards, credit cards and traveler’s checks, you will have multiple sources of funds to subsidize your trip. Be sure to have cards that are compatible with European transaction carriers, such as train stations, restaurants, hotels, and museums.
• Become knowledgeable about international transaction fees and banking associations: ATM and credit card transactions can often incur service fees, not to mention taking account for differences in the exchange rate. Do some research to see if any major banks have international ATM networks that do carry extraneous fees or charges.
• Be prepared in the event that your credit card gets lost or stolen: If either of these happen, contact the bank or credit card company in order for them to freeze the account and ensure no other transactions can be made on the card.
John Monderine, CEO of debt collection agency, Rapid Recovery Solution, agrees with these suggestions, “Students and recent grads traveling internationally should make preparations to ensure their credit cards, checks and ATM cards will be in working order for their trip. The last thing any traveler wants to find out once they are overseas is that their account or card does not work and are not able to make any transactions. This can be a very stressful and overwhelming situation for travelers who have to deal with language translations and foreign customs. Consumer should do everything they can to make sure their trip run as smooth as possible.”
Founded in 2006, Rapid Recovery Solution, Inc. is headquartered at the highest point of beautiful Long Island. Rapid Recovery Collection Agency is committed to recovering your funds. We believe that every debtor has the ability to pay if motivated correctly. We DO NOT alienate the debtors; we attempt to align with them and offer a number of ways to resolve not only your debt but also all their debts.
#####
Sean Nolan, Rapid Recovery Solution, Inc, http://www.rapidrecoverysolution.com, 866-944-8610, [email protected]
Share this article