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Using a business credit card abroad can be a convenient and efficient way to manage your expenses while traveling abroad. Using a credit card abroad works in much the same way as using one at home.
It’s important to pay attention to the payment network on which your business credit card operates. Visa and Mastercard are widely accepted around the world, making them reliable choices for international transactions. American Express is still widely accepted around the world, but it is often accepted in fewer countries and at fewer merchants. Discover has more limited acceptance in certain regions.
American Express and Discover are widely accepted in some countries, but you should check the acceptance rate for your specific destination before relying solely on these cards. We recommend bringing a backup payment option, such as Visa or Mastercard, so you can easily pay wherever you are.
In addition to foreign exchange fees, it is important to be aware of currency conversion fees that may apply when making purchases in a foreign currency. These fees may vary depending on your credit card issuer and the specific card you are using. However, these fees can easily be avoided by choosing to purchase in local currency with a credit card.
Before using a business credit card abroad, it’s a good idea to familiarize yourself with the card’s specific terms and conditions. Understanding foreign transaction fees, currency conversion rates, and other potential charges can help you make informed decisions and avoid surprises on your billing statement.
Can I avoid foreign transaction fees on commercial transactions?
Many credit cards have foreign transaction fees, but there are also fee-free options available, like the cards on this list. A business credit card that waives foreign transaction fees can help you save money when traveling and shopping.
When it comes to international business transactions, foreign transaction fees can quickly add up. These fees are typically a percentage of the transaction amount, often around 3%. For companies that frequently conduct cross-border business transactions, these fees can be costly.
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