Traveling with a Prepaid Credit Card: What You Need to Know | GBTI
If you’re planning a trip abroad this year, you might want to think about adding a GBTI VISA Travel Classic Card to your packing checklist. A personalized, prepaid credit card specially designed for international use, the GBTI VISA Travel Classic Card is a convenient and affordable tool that can help you manage your finances and your spending while traveling overseas.
If you’re new to the idea of prepaid credit cards, read on to learn more about how they work, the benefits they offer, and what you should think about when traveling with one.
What is a prepaid travel credit card?
As the name implies, a prepaid travel credit card is a card that you can load with a set cash balance before taking off on your travels. Once you’ve purchased the card and put your chosen balance on it (the GBTI card, for example, can be loaded with any amount between USD $50 and $5,000), you can then use the card in the same ways that you would use a regular credit or debit card, like to make in-person or online purchases or to withdraw cash at ATMs.
Why is a prepaid credit card a good choice for my trip?
Prepaid credit cards are becoming an increasingly popular choice among international travelers because of the many benefits they offer. Some include:
Prepaid cards are secure -Traveling with your regular credit or debit card can be risky because those cards are linked to your hometown bank; if they are stolen, a thief could have access to all your personal financial information and end up stealing your entire bank account. A prepaid card, on the other hand, is completely separate from the rest of your banking information, so there’s no risk that a lost or stolen card will expose you to greater financial losses or identity theft.
Prepaid cards offer fraud protection -Prepaid cards are similar to cash in that they are not linked to your bank account, but they come with an additional level of security that cash can’t offer: fraud protection. Many prepaid credit cards have the same levels of fraud protection as traditional credit cards, so you may not be out of pocket for fraudulent use of a stolen card as long as you follow the proper procedures for reporting the theft.
Prepaid cards help you stick to your budget -It’s always tempting to overspend when you’re traveling; after all, a holiday abroad is the perfect time to let loose and treat yourself and your family to a really special experience. But if you don’t stick to your budget, you may find yourself facing serious financial consequences when you get back home. Prepaid credit cards are the perfect tool to help with budgeting because it’s simply not possible to spend more money than the balance loaded on the card.
Prepaid cards are not linked to your credit score -If you’ve struggled with your credit rating in the past, you might have difficulty being approved for a regular credit card. But because you load a prepaid card with a cash balance up front, your credit rating doesn’t affect your ability to obtain and use one.
What do I need to know about traveling with a prepaid credit card?
Taking a prepaid credit card on your next international trip is an easy and convenient way to manage your travel spending. To make the most of your card, be sure to keep the following tips in mind:
Make sure the card will work at your destination -The GBTI VISA Travel Classic Card can be used at over 1 million ATMs and 25 million merchants all around the world, but it’s always a good idea to make sure your card will be accepted at your chosen destination. Take a minute before your travels to call the hotel you want to stay at or any restaurants you’re planning to visit so there’s no risk that you’ll be taken by surprise.
Don’t use the card for holds -Sometimes, hotels or car rental agencies will ask for a credit card number so that they can hold a damage deposit until you’ve checked out or returned the vehicle. While you can use a prepaid card for this purpose, it’s not always a good idea, as it will essentially tie up a significant portion of your balance without actually using it.
Know how to manage your card-Being able to check the balance on your prepaid credit card is an essential step in sticking to your travel budget. With the GBTI card, you can easily verify your balance at gbtibank.com. You can also find information on there about reloading options for the card.
How do I get a GBTI VISA Travel Classic Card?
Anyone over the age of 16 with valid ID and other information can apply for the GBTI VISA Travel Classic Card. Application forms are available at any GBTI branch or online at gbtibank.com.
Originally published at https://gbtiblog.com on February 10, 2020.
