During summer holidays there is a greater tendency to use credit cards more, especially if we travel abroad, because we avoid carrying cash. Although, in the Eurozone you pay the same commission as in Portugal, that is, you pay nothing. Therefore, the temptation to use a credit card may be greater.
If you “go outside, inside”, when using your credit card you must have a set of care. If you use it abroad, care must be taken.
Remember, in case the lose or be stolen Have to immediately contact the financial institution that issued it to have it canceled, preventing its fraudulent use.
Also read: Do I really have to use my credit card abroad?
Precautions to be taken when using your credit card on your vacation
1. Pay attention to commissions if you use your credit card on vacation
In Portugal and in Eurozone countries
When taking a holiday in any country whose currency is the Euro, using a credit card costs you as much as using it in Portugal. That is, for the purchases you make with him will not pay any commission.
You can use your credit card to withdraw money, but both in Portugal and in the Eurozone, you will be charged a cash advance. Therefore, you must withdraw money with your debit card, but if you really have to use the credit card, check your bank’s price list.
Outside the Eurozone
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If you use your credit card outside the Euro zone, you can count on commissions for each purchase you make. Commissions can be high so before leaving, check the price list of the institution that issued it to find out how much you will have to pay.
And of course if you withdraw money from an ATM, the cash-advance commission is even higher.
Here our advice is to use your credit card as little as possible. Choose to take some money from Portugal in the local currency or withdraw it with your debit card. Of course, carrying a lot of money is not advisable at all, so it will be an issue that you will have to manage.
Also read: How much do I pay for using a credit card?
2. Notify your bank that you are going to travel
If you go abroad notify your account manager (if you have one) that you are going to travel. If unusual transactions appear for the traveler, your card will be immediately suspended until they confirm that they were made by you.
3. Don’t lose sight of your credit card while on vacation
When making a payment, you must not hand the card to the merchant or hotel employee. It only takes a few seconds to clone your credit card and steal the data you need to make online purchases. Especially if there are no additional security controls regarding internet transactions.
Also read: I lost my credit card: what to do?
4. Enable additional credit card usage security
Some of the financial institutions offer the possibility of sending alerts to your mobile whenever your credit card is used.
If you receive the SMS and the purchase was made by you, perfect. But if it wasn’t made by you, it’s because it’s being misused, that is, it was cloned. Immediately notify the card issuer. This will be canceled at that moment.
5. Limit the value of ceiling from your credit card
One of the precautions to be taken is to adjust the ceiling the amount you intend to spend on your vacation. Thus, in case of theft the value of the fraud is limited.
On the other hand, by limiting the card you will be keep your expenses within the budgeted amount, preventing potential problems in your family budget.
Also read: How much will your vacation cost?
6. Be careful when using Multibanco
If you really have to use your credit card to withdraw money, Pay attention to pick-up boxes as these are places where fraud can occur.
Scammers insert fake devices into the card slot intended to copy your card. There are also hidden camcorders so they can view your security code.
Another recurring fraud consists of put devices next to the output of the notes that prevent them from going out of the machine. You will just be left with the feeling that there is a problem with the machine, but when you leave the machine, someone will take the device and take your money.
Note, this it can happen in Portugal as well as abroad.
7. Beware of duplicate operations
If you make a payment, after confirming it, do not repeat the operation (at that or another payment terminal) if you are asked to do so saying that an error has occurred.
Wait for the terminal to display a message that the attempt was unsuccessful or aborted. Only then should you repeat the operation.
8. After using your credit card, ask for proof of payment
After using your credit card to make a payment, always ask for the receipt proving the operation who has. save it for further validation with the card statement.
You should always check if the movements in the statement are the ones you actually made and if the values are correct.
9. beware the code
It’s a simple warning and may seem redundant. However, most frauds happen because the scammer has access to the artão code.
So, you must not keep your code next to the card, nor write it on the card itself. If you do and your wallet is stolen, the probability of using it immediately, before being able to report your theft is high.
10. If something happens, cancel the card right away
This kind of situations must be resolved as quickly as possible.
if lose your card if it is stolen or verify transactions you did not make, immediately contact your bank (or the card issuer), using the contacts indicated by the latter and also available on the Banco de Portugal website. O card will be canceled immediately.
THE speed with which you communicate with the financial institution is crucial, given that:
- If the fraudster carries out unauthorized payment operations before communicating to the card issuer, the cardholder must, as a rule, pay the amounts improperly handled, up to a maximum of 50 euros. (but note that if you have committed a serious negligence such as having a code written on the card, this limit of 50 euros does not apply, ie you will have to pay the transactions made by the scammer).
- Once you have informed the card issuer, you will no longer be responsible for paying for subsequent transactions.
Heads up, don’t just contact your bank. Contact local authorities and report what has happened. It is important that you keep a copy of the declaration and that afterwards in Portugal, also go to the police to register what happened. Remember, you will need this declaration to avoid inconvenience.
Also read: Are you going to ask for your first credit card? Discover some of the precautions to be taken