A crucial decision to make while planning for International Leisure Travel is how to carry the currency you will be using there. Which of these you must carry – Cash, Credit cards, Debit cards, or Foreign Exchange Cards? Many people think that along with cash they need to carry a credit card while traveling abroad. However, using a credit card abroad can be an expensive affair. The best solution to this problem is Thomas Cook’s Forex Cards.

Forex card VS Credit card

The Forex card is handier as it is a more convenient as well as an inexpensive alternative to credit cards. International credit cards even issued by domestic banks come with an extra mark-up fee on the foreign currency exchange rate with foreign transaction fees. You can easily end up paying six percent more after adding all these fees. In the case of foreign exchange cards, these fees can be 0 in some cases. Check Thomas Cook’s official website. We can guide you to find the most suitable forex card option.
Our Forex Card can be pre-loaded. These cards allow you to access money abroad. These types of cards can be loaded with one or multiple currencies, some of them will enable you to load up to 15 currencies. Forex cards allow you to withdraw cash in foreign currency, check your account balance, or pay while purchasing something while on an overseas holiday. You can top up the card as per your requirements.
In the case of Foreign Exchange Cards, the foreign exchange rate will be locked as early as you load the money into it. On the other hand, Credit cards are applied at the time of the transaction like when you swipe your card. Hence, the prevailing rates are at the time get applied along with other charges of transactions.
Once your Forex is preloaded with the currency of the destination country, the exchange rates will be locked in immediately. Our Forex cards can protect tourists from future currency rate fluctuations. If you make your transaction through your Indian credit card in an international country, volatility rates will be charged. The holiday budget can go chaotic if there is any substantial fluctuation during a foreign trip. This happens sometimes as a result of global and domestic economic instability. Forex card users know the exchange rate at the time of loading the card and calculate the rates accordingly.
To show that our forex cards are the clear winner of the Forex card VS Credit card debate, next, some reasons why our forex cards are a better choice than credit cards have been mentioned:

Minimal currency mark-up fee while traveling to a foreign country

When you are using either a Debit card or Credit card abroad, you will be charged a minimum price over and above the actual transaction value, this is known as a mark-up fee. When you are using a credit card overseas, it costs a mark-up fee (cross-currency) of 2% to 3.5% against the total value of the transaction whereas foreign exchange cards do not incur these types of charges. Just make sure you are using it within the same currency jurisdiction for which you loaded the card. However, if you swiped outside the currency jurisdiction, a cross currency fee of up to 3.5% against the total value of the transaction will be charged.
If you have plans to travel to multiple foreign countries, our options for multi-currency forex cards are there for avoiding these incurring mark-up fees. It allows its users to load money in multiple foreign currencies on the same card.

Lower ATM Withdrawal Expenses

A credit card is a very expensive way to spend while on overseas leisure travel. Now one thing you need to remember while using your credit card abroad is that it is initially designed to work only in the currency of the country it has been issued in, domestically. However, when you are traveling abroad and using it to withdraw cash, you will be charged for the foreign transaction by your bank. Besides, when you use your credit card at a foreign country ATM to withdraw your money, you must pay interest charges along with a withdrawal fee and a foreign currency transaction fee which is called a cash advance fee.
Using credit cards in foreign countries while withdrawing money you have to deal with a cash advance fee of up to 3.5% of the withdrawn value, along with interest charges which will go up to 49.36% per annum and the transaction fee for foreign currency is up to 3.5% against the total value of the transaction. However, if you get a forex card from Thomas Cook, then withdrawing cash incurs only a cash withdrawal fee. For each transaction, this fee is fixed and much less than what cash withdrawal fees are usually charged on credit cards.

No charges applied in case of late payment

Credit card users have to pay a late fee if they do not pay their credit card bill on time or even pay it partly. The credit card users must pay late fees along with high rates every month until the entire amount is paid. But when you consider Thomas Cook to get a forex card, you do not need to pay such late fees.

How to get a forex card?

The first question that comes to one’s mind when talking about how to get a forex card is how to find the portal to buy it from. Just go to the official site of Thomas cook, then choose your desired currency and amount which meets your requirements. You can preload our forex card with foreign currency. So, when you swipe the forex card in a foreign country, your transaction is done with foreign currency.

 
Forex card VS International Debit Card

When you get a forex card from Thomas Cook instead of an international debit card, then you can avoid the following disadvantages of using such cards on an overseas trip:

• International debit cards can be used overseas; however, they are subjected to high additional charges
• Undertaking any prohibited transactions cannot be avoided when only this type of card transaction system is considered when travelling abroad.
• This card is not protected against loss or theft unlike our forex cards
• This card is subjected to certain unavoidable fees like foreign ATM withdrawal fees, transaction charges, conversion fees and they are always high

So, may it be Forex Card VS Credit Card or Forex Card VS International Debit Card, the clear winner is definitely Forex Cards, but only when you choose Thomas Cook. So, what are you waiting for? Let us help you get started today!