Using your credit card abroad

Are you familiar with all the services included in your credit card?

The advantages of getting a credit card go beyond paying with a piece of plastic instead of cash. As an expat, you should also check the additional services that go along with many cards.

Imagine you are skiing in a foreign country. While descending the most vertiginous mountain something goes wrong. Even before you realize it, you are rolling down the hill. Minutes later you are being evacuated by helicopter.

The first question that comes to your mind is “How will I pay for this?”. Luckily, if you booked your trip with your credit card, the medical consequences of your fall are covered by a health insurance that you probably didn’t even know you had.

Almost all credit cards have a free insurance associated with them. It covers unexpected events if they occur as a consequence of the service purchased using the card. On your way to the hospital, remember that healthcare costs may be covered. Just find out about the full policies with your bank.

Additional credit card services

Besides health insurance, your credit card may also cover purchased services subject to cancellation. Such is the case of Spanair clients, the Spanish airline which filed for bankruptcy last week. Clients now have the chance to claim back the cost of their unused plane tickets if they used their credit cards to pay for them.

When renting a car credit cards are extremely useful too. Even though you should seriously consider getting specific insurance, together with the car rental, you can also make use of the credit card protection if your rental car breaks-down.

What’s more, on many occasions, the coverage of these insurances is also extended to direct family members of the card holder. The clauses vary according to each financial entity. Make sure you do not pay more for this. It is the bank’s duty to offer this basic coverage at no extra costs.

Get informed!

A lack of knowledge of these advantages predominates among users. According to a report by the Spanish Asociación de Usuarios de Bancos y Seguros (Adicae), 90% of customers were unaware of these insurance policies when getting a credit card.

Next time you’re paying with your credit card, remember that that piece of plastic in your wallet could help you in many unexpected ways.