Credit Cards – Essential tools for winter sports enthusiasts
A short article outlining how the skiing holiday has moved from being a cash dependant break to one that relies on credit.
The days when holiday makers and businesses used to pay for everything in cash are long gone; this is partly due to the technology and services offered by financial services providers and also the consumers increasing inability to pay for the services or products they require in full and in advance. For example, there are not many people who could afford to pay for a skiing holiday in an exclusive Swiss resort in one payment, this is where card payment really comes into its own. But all cards are not created equally, they vary greatly in terms of interest rates offered and also the rewards they offer to those who spend a certain amount on them over the course of a month. The rewards that can be obtained through the use of Gold or Platinum cards can be quite substantial. Enabling individuals to buy holidays, ski lift passes and even ice skates on credit is by no means the only service that the major card companies provide, an increasing number are now starting to branch out and now offer everything from insurance to mortgages which can sometimes include exclusive discounts and special deals for current card holders. Another reason for the massive increase in the use of credit is the internet. All the winter sports holidays that were previously available on the high street are now available at the click of a mouse, the only thing the consumer needs is a valid credit or debit card which is in their name and registered to their address.
Credit card payment
The use of credit cards is projected to increase significantly in the coming months and years and certain quarters have stated that the time honoured cash transaction may become almost obsolete. Another advantage of using a credit card for holiday spending is the ease in which a customer can manage their account; many providers provide online banking facilities where the customer can check how much they’ve spent and how much they need to pay off to avoid penalties. Many ski resorts in the Alps generally offer good internet connections where this can be monitored daily. Whilst a business may choose a particular card based on one of a number of different reasons the personal customer will generally pick one with a low rate of interest and in some cases a favourable exchange rate for overseas transactions. If a person is selecting a card based on their overseas travel requirements it may be prudent to obtain a card with the Visa emblem on them, these cards in particular are recognised and widely accepted in nearly every country in the world and have dedicated helplines in a large number of countries. Many providers also allow a customer to set their own spending limit, this is particularly useful for those whose après ski shopping sprees can sometimes get out of hand and also, perhaps more importantly, in the event of the theft or loss of a card.
Credit cards are good, but you have to be careful. Actually, a good idea is to look for one which has cheaper rates if you’re using it overseas. The credit card companies can get a lot of cash from conversion rates and stuff like that and it can cost you a fortune. Have a look at the terms of a credit card if you’re going to use it overseas before you sign up for it.
I was travelling around Europe before and I took my credit card along. It was so easy to use. I could whip it out anywhere and purchase anything. Much better than carrying cash. Most places that I went to accepted Visa and if they didn’t, I could just go to the ATM down the road and do a cash advance from there. It saved me from carrying around a wad of cash of annoying traveller’s cheques
The thing that I find difficult is to choose the right credit card. I had to look through so many different ones. The interest rates were all varied, and they each had a different amount of time for the interest-free periods too. I wish there was some easier way that just looking at Google for info. Is there a website where I can compare credit cards in the UK?
Well, I disagree with Jonathon Price. A credit card isn’t useful everywhere. What happens if you’re in a poorer part of the world? Most developing areas such as smaller towns in Eastern Europe wouldn’t have Visa or Mastercard facilities and so your card would be useless there. You need a back-up like some spare cash or a bunch or traveller’s cheques so you’re not stranded in a poor village with no money to use.