General Information » Money » Credit Cards

Using your credit card to pay often gets you a better effective exchange rate than changing money into a local currency and then paying cash. The exception is when you are bargaining for goods where the margins are low (eg. computers or electronic goods), since the shop may add an extra fee (typically around 3%) if you want to pay by credit card.

Some small restaurants and cafes may not accept credit cards, nor will many market stalls. Either bring enough cash with you to cover these, or check first that they accept your card before doing business.

If you are unlucky enough to lose your card, or it is stolen, be sure to inform the issuer immediately so you won’t be liable for any further transactions. (see Lost/Stolen Property p.26)



XXX L 4 XXX Credit Card Fraud

Although it isn’t common, you may be a victim of credit card fraud even though you still have the card in your possession, and you’re not likely to know about it until your card is rejected when you try to make a purchase. If this happens to you, contact your home bank to check the card’s balance and recent transactions. If the card’s balance is used up, and there are transactions you don’t recognise, assume your credit card has been ‘skimmed’ and copied. You should not be liable for the fraudulent transactions, but you will probably not be able to use that card again as your bank will want to issue you with a new one. When paying with your credit card, try to keep the card in sight at all times to avoid your card being skimmed.