Articles - Archived Money Matters

Summer Trip Tips

It's summer vacation time, and whether you're staying in state or leaving the country, you likely shopped around for the best prices on airfare and hotel rooms. Don't blow it now by being careless with money while you're gone. Consider these trip tips:

Trim your wallet. When traveling, it's a good idea to keep a little cash and a couple of credit cards with you at all times. However, you probably don't need the majority of things you carry in your wallet, like your library and customer loyalty cards, so leave them at home. If your wallet gets lost or stolen, there won't be as much to replace.

Know exchange rates. If going abroad, this will help you determine if you're getting a good deal. Also, exchange money at a financial institution before or after your arrival. This will cut down on fees you may incur by getting money from an ATM, as well as ensure you get the best exchange rate for that day.

Make purchases with Visa. Not only is Visa accepted worldwide, but it may be the smartest card choice for another reason. While Visa charges a conversion fee on overseas purchases equal to 1 percent of the transaction amount, some financial institutions will apply additional fees; Local Government Federal Credit Union does not. Your Visa also automatically enrolls you in their free Auto Rental Collision Damage Waiver Program, plus guarantees purchases will always get the day's best exchange rate.

Call LGFCU. If you are traveling outside normal areas, contact LGFCU's Call Center at 888.732.8562, along with any other credit card companies. The reason being, when they notice what may be deemed as suspicious activity (i.e. transactions made far from home) they could freeze your money, quickly putting a damper on your vacation.

Happy travels!