International Credit Card: Key Benefits of Using It During Travel Abroad

Benefits of Using an International Credit Card While Travelling Abroad

In today's post-pandemic world, digital platforms have become the norm for financial transactions. Many countries encourage using digital platforms, making Credit Cards and Travel Cards a necessity for travellers. The alternative – carrying foreign currency in cash – comes with risk of loss or theft. It is also inconvenient to carry large amounts in cash.

International Credit Cards, i.e. Credit Cards that are accepted across the world, can be a great solution for international travellers. They offer convenience, enhanced safety and protection against fraud and exciting rewards. Let us deep-dive into the benefits of using international Credit Cards.

Advantages of an International Credit Card while travelling abroad:

Worldwide acceptance and convenience

One of the major benefits of using an International Credit Card is its wide acceptance. Whether you are shopping at local markets, dining at restaurants or booking a cab, an international Credit Card ensures hassle-free transactions. It even allows you to withdraw cash from ATMs abroad. Additionally, for international transactions, two-factor authentication such as One-Time Password (OTP) is not mandatory, which helps in ensuring smoother transactions.

Enhanced security and fraud protection

When it comes to international travel, security is an important concern. Credit Card issuers like ICICI Bank provide EMV Chip Credit Cards that use advanced technology to encrypt all Card data in a microchip, making it difficult for hackers to duplicate or access sensitive information. The embedded chip adds an extra layer of security, protecting your Card from skimming and unauthorised transactions.

Competitive markup fees

When you use a Credit Card abroad, the transaction is carried out in the local currency of the place you are visiting. It is then converted into Indian Rupees at the prevailing exchange rate.

It is important to note that the conversion takes place on the settlement date with the Bank, which may differ from the transaction date. The Bank then levies a foreign currency markup fee (which is a % of the transaction value) + GST. ICICI Bank offers competitive markup fees, with certain travel-oriented Credit Cards having particularly low rates.

Exciting rewards

Credit Card issuers often offer attractive deals or privileges to enhance your travel experience. ICICI Bank, for instance, has the Travel Easy programme that unlocks exclusive benefits for ICICI Bank Credit Card holders. Through this programme, you can enjoy special offers on flight bookings, hotel stays and other travel-related services. In addition, ICICI Bank offers reward points on international transactions. For example, customers registered under the Travel Easy Programme can earn three times the number of reward points on their foreign currency transactions. These reward points can be redeemed for various benefits, making your international trips even more rewarding.

Steps to get a new ICICI Bank Credit Card:

Obtaining an ICICI Bank Credit Card for your international travels is easy. Just follow these steps:

Step 1: Do your research and choose the right Credit Card

Visit the ICICI Bank website or a nearby Branch to explore the available Credit Card options. Consider factors such as annual fees, reward programmes and additional benefits for international travel. Some popular Credit Cards designed for travellers include:

• Emirates Skywards Credit Card

• MakeMyTrip ICICI Bank Signature Credit Card

• MakeMyTrip ICICI Bank Platinum Credit Card.

Select the Card that aligns with your travel needs and preferences.

Step 2: Complete the application

Once you have chosen the desired Credit Card, you will need to submit the necessary documents to complete the application process. These include identity proof, address proof, income proof and passport-sized photographs. Ensure that you have all the required documents to speed up the process.

Step 3: Submit the application

Once done, submit the completed application form along with the required documents at the nearest ICICI Bank Branch or through the online application portal. To be on the safe side, you should double-check all the information to avoid any discrepancies that might delay the approval process.

Step 4: Application processing and approval

After submitting your application, ICICI Bank will initiate the verification process. This might involve a thorough review of your submitted documents, credit history and income. ICICI Bank has taken measures to ensure that you receive timely updates regarding the status of your application.

Step 5: Receiving and activating your Credit Card

If your application is approved, you will receive your ICICI Bank Credit Card at your registered address. Activate your Credit Card as per the instructions provided. Typically, you will need to create your card PIN, set up 3D security and two-factor authentication to activate the Card. It is advisable to read the guidelines mentioned on the Card for the same.

Step 6: Enjoy the benefits!

Once your Credit Card is activated, you can start enjoying the benefits of using an international Credit Card. Utilise it for your travel-related expenses such as flight bookings, accommodation, dining, shopping and more. Make the most of the ICICI Bank rewards programme and earn points on your international transactions.

Conclusion

Using an international Credit Card while travelling abroad offers numerous benefits including worldwide acceptance, convenience, enhanced security and exciting rewards. ICICI Bank provides a range of Credit Cards tailored for international travellers that come with attractive offers through the Travel Easy programme. By availing an ICICI Bank Credit Card, you can unlock a world of financial convenience, security and rewards, making your international travels enjoyable and worry-free.

FAQs

1. What documents do I need to apply for an international Credit Card?

The documents required for getting an international Credit Card are Aadhaar Card, PAN Card and Voter ID / Valid Passport / Driving Licence. You will also need income proof like salary slips, bank statements and income tax returns.

2. Do I need a separate Credit Card for every country I visit?

No, there is no need to carry separate Cards for different countries. A single Credit Card can be used while travelling across countries. Just make sure that you have switched on (enabled) international transactions on your Card.

3. What happens if I lose my Credit Card abroad?

Immediately contact your bank to block the Card. Banks offer emergency Card replacement or cash assistance to help you while you are travelling abroad.

4. Why should I use a Credit Card for international travel instead of cash?

International Credit Cards are safer than cash when travelling abroad and are widely accepted. ICICI Bank Credit Cards let you pay globally, track expenses, earn rewards and help you avoid carrying large amounts of cash.

5. What security benefits do ICICI Bank Credit Cards offer overseas?

ICICI Bank issues EMV Chip Cards. The chip carries all Card data in an encrypted form. Chips make duplication nearly impossible, protecting you against skimming. You also get instant transaction alerts.

6. Are international transactions via Credit Card secure and seamless?

Yes, ICICI Bank EMV Chip Cards ensure your Card data is encrypted, making your transactions secure. OTPs might be required for added security, making your transactions completely safe.

7. What is the foreign transaction fee when using an ICICI Bank Credit Card abroad?

International transactions are subject to a 3.5% markup on foreign currency spends or refunds. This small fee is applied as an added charge over the transaction value.