Credit cards can be a convenient way to pay when traveling overseas, but using the wrong card can add extra fees and complications to your purchase.
Many credit cards charge as much as a 3 percent transaction fee for all international purchases.
In addition, some issuers charge a fee if a purchase is processed by a bank outside the United States, even if you never leave your home.
If you purchase something online from another country or purchase an airline ticket or hotel room with a foreign company, you could be charged a foreign transaction fee of up to 3 percent.
“Before you leave the country or order anything from a merchant that is not based in the United States, it is a good idea to call your issuer and ask about the foreign transaction fee,” says Bill Hardekopf, CEO of LowCards.com and author of The Credit Card Guidebook. “You can save yourself some money by using a credit card that doesn’t charge a fee for foreign transactions.”
According to a study by Pew Trusts in 2010, 91 percent of bank cards charged an international transaction fee. However, in an attempt to attract affluent cardholders with high credit scores and low risk, some issuers have dropped the international transaction fee from selected credit cards. American Express dropped the 2.7 percent fee from its Platinum and Centurion cards. Chase eliminated the 3 percent fee from several upscale travel cards including the Marriott Rewards Premier card, Chase Sapphire Preferred, British Airways Visa Signature, and United Mileage Plus Club Visa. Citi erased the fee from its ThankYou Premier and ThankYou Prestige cards.
Capital One has never charged a foreign transaction fee on any of its cards.
Current rates for international transaction fees:
Capital One–0%
PenFed Travel Rewards American Express–0% Discover–2% American Express–2.7% Bank of America–3% Chase–3% Citi–3%
Using a credit or debit card at foreign ATMs can also add additional fees. Before departing, also ask your bank what the charges are to use your card at “foreign” ATMs. In addition to the international transaction fee, the ATM may also charge its own fee for withdrawals. If you plan to use your debit card, contact your bank to see if they have partner banks in the areas you are traveling. These partner banks may waive the withdrawal fees. Bank of America is a member of the Global ATM Alliance Bank that waives the fee if your bank is a member.
ATM fees on international transactions vary widely. Chase assesses a $5 withdrawal fee for non-Chase withdrawals outside the United States plus a 3% conversion fee. Citi charges a 3% fee after conversion to American dollars.
Here are some other credit card tips for international travel:
* Avoid using your credit card at an ATM to get cash. The fee is typically 3%. You will also immediately be charged the much higher interest rate for cash advances. The cash advance rate can be as high as 25% for some issuers.
* Take a second card in case your primary card is not accepted.
American Express is not accepted everywhere, so have a MasterCard or Visa as a backup card. Discover does not have an extensive network in Europe and probably should not be your primary card.
* Notify your bank and credit card issuer about your trip. While you are asking your bank about foreign transaction fees, tell them that you will be using your card while traveling out of the country.
Otherwise, the foreign charges may raise a red flag with your issuer and a freeze could be placed on your account.
* In case you run into any problems, take the phone numbers for contacting your issuer from outside the United States.
* Before you order dinner or make any purchases, ask if the restaurant or merchant can process your credit card. Many countries use the chip and PIN system and no longer accept the American magnetic strip credit cards, and this can be a problem for American travelers. Credit card issuers have been slow to adopt chip and PIN, but this is changing with smartcards and smartphones.
2011年9月7日 星期三
2011年6月12日 星期日
Which payment methods do you accept?
What are the pros and cons of each marketplace and venue?
The pros of having my own website is that most of my sales come from there, and that I have pretty much total control over it versus the marketplace sites, where you have little control. For example, I like to take credit cards, and cannot do that on the market sites. Another pro of all of these sites is that inventory can be placed there and left an indefinite time, until it sells, without it costing anything (except for Etsy).
When considering all the places you sell, which channels are most profitable?
Definitely the most profitable is my own website, by a wide margin. Next is eCrater, because there are no costs involved there.
How does your revenue break out by channel (what percentage of sales come from each channel)?
My website 95%, eCrater 5% and Bonanzle (Bonanza) 2%.
I just recently started a small store at Etsy, but will not be listing much there, because of the costs involved and also because they do not submit many of the stores to Google Shopping, and consequently sellers feel the need to "relist" constantly in order to have visibility.
Part of the reason most of my sales come from my website is that is where I put 95% of my energy. So certainly the fact that my sales are lower at the marketplace sites is directly related to that fact. In fact, I'm surprised how I get a regular inflow of orders from eCrater, since I do so little about adding new items there.
Which payment methods do you accept?
On all sites I accept PayPal, Google Checkout, checks and money orders, and on my website I accept all of those plus credit cards.
What are the pros and cons of each payment method?
The cons with PP and GCO is that there are many horror stories of them shutting down sellers without notice, sometimes on what seems to be the flimsiest of reasons. So that always scares me, though I personally have never had a problem. I feel like they have to be offered, however, since so many people use them. I love people to use credit cards, because I have a minimum that I like to be reached and the more people that use them the lower my cost per transaction.
One service that I can recommend for a merchant account and gateway is Flagship Merchant Services, which uses First Data as the gateway. You can use them month-to-month, without an extended contract, which really appealed to me, and it took me about 5 minutes to set them up through Prestostores. (Filling out the application with them, over the phone, took longer but was also painless.) I've used them for over a year now.
Background (URL, when launched) and what was the impetus for starting your own website?
Sharons Vintage Store
Back in 2003 I bought two "box lots" of vintage jewelry at an auction. At the time I knew nothing about jewelry, and started selling on eBay while I was learning. I found the process very exciting. After about 3 years on eBay I had had it with the endless changes they required, and having to revise listings so often. But I loved selling online. So in 2006, I started my own website. I wanted the control, and fewer costs.
If you hired any companies to set up your website and/or design your logo/branding, how did you find them?
My website is with Prestostores, which is probably one of the easiest hosts to get started with. I've even heard a couple of people say they had one up and running in two hours. That, of course, is a simple site with no customization. They offer quite a few ways to customize your site, and it is worthwhile to take advantage of those selections. I also steeped myself in SEO and that has helped. I haven't actually hired any outside help.
Does your website have a checkout system, if so, what do you use, and what do you like/dislike about it?
One of the things I love about Prestostores is the checkout system. It is straightforward and easy for both me and my customers. Not too many clicks, and people don't have to register. They do fill out their personal info (name and address) which I get immediately in an email, along with details of the order. If they use PP, GCO or a credit card, I then get notices from each of those payment services about the payment. Really works smoothly. It can also be customized, with promo codes, notices and whatnot, which I like.
The pros of having my own website is that most of my sales come from there, and that I have pretty much total control over it versus the marketplace sites, where you have little control. For example, I like to take credit cards, and cannot do that on the market sites. Another pro of all of these sites is that inventory can be placed there and left an indefinite time, until it sells, without it costing anything (except for Etsy).
When considering all the places you sell, which channels are most profitable?
Definitely the most profitable is my own website, by a wide margin. Next is eCrater, because there are no costs involved there.
How does your revenue break out by channel (what percentage of sales come from each channel)?
My website 95%, eCrater 5% and Bonanzle (Bonanza) 2%.
I just recently started a small store at Etsy, but will not be listing much there, because of the costs involved and also because they do not submit many of the stores to Google Shopping, and consequently sellers feel the need to "relist" constantly in order to have visibility.
Part of the reason most of my sales come from my website is that is where I put 95% of my energy. So certainly the fact that my sales are lower at the marketplace sites is directly related to that fact. In fact, I'm surprised how I get a regular inflow of orders from eCrater, since I do so little about adding new items there.
Which payment methods do you accept?
On all sites I accept PayPal, Google Checkout, checks and money orders, and on my website I accept all of those plus credit cards.
What are the pros and cons of each payment method?
The cons with PP and GCO is that there are many horror stories of them shutting down sellers without notice, sometimes on what seems to be the flimsiest of reasons. So that always scares me, though I personally have never had a problem. I feel like they have to be offered, however, since so many people use them. I love people to use credit cards, because I have a minimum that I like to be reached and the more people that use them the lower my cost per transaction.
One service that I can recommend for a merchant account and gateway is Flagship Merchant Services, which uses First Data as the gateway. You can use them month-to-month, without an extended contract, which really appealed to me, and it took me about 5 minutes to set them up through Prestostores. (Filling out the application with them, over the phone, took longer but was also painless.) I've used them for over a year now.
Background (URL, when launched) and what was the impetus for starting your own website?
Sharons Vintage Store
Back in 2003 I bought two "box lots" of vintage jewelry at an auction. At the time I knew nothing about jewelry, and started selling on eBay while I was learning. I found the process very exciting. After about 3 years on eBay I had had it with the endless changes they required, and having to revise listings so often. But I loved selling online. So in 2006, I started my own website. I wanted the control, and fewer costs.
If you hired any companies to set up your website and/or design your logo/branding, how did you find them?
My website is with Prestostores, which is probably one of the easiest hosts to get started with. I've even heard a couple of people say they had one up and running in two hours. That, of course, is a simple site with no customization. They offer quite a few ways to customize your site, and it is worthwhile to take advantage of those selections. I also steeped myself in SEO and that has helped. I haven't actually hired any outside help.
Does your website have a checkout system, if so, what do you use, and what do you like/dislike about it?
One of the things I love about Prestostores is the checkout system. It is straightforward and easy for both me and my customers. Not too many clicks, and people don't have to register. They do fill out their personal info (name and address) which I get immediately in an email, along with details of the order. If they use PP, GCO or a credit card, I then get notices from each of those payment services about the payment. Really works smoothly. It can also be customized, with promo codes, notices and whatnot, which I like.
訂閱：
文章 (Atom)