Friday, August 5, 2011

Secured Credit Card, Traveler's Checks and Currency

I have been busy chipping away at my list of things to do for London. If anyone following this blog is thinking about going overseas for school or other reasons I have some advice.

First: Convince your parents to get you a Secured Credit Card. This allows you to make purchases and transactions and build a credit score if you don't already have one. It takes 4-6 weeks for approval so do this ahead of time.

Second: Even if you have a hard time cashing them at banks, and you will because they aren't accepted very often anymore, I recommend securing some money in the form of traveler's checks. This will be a good backup if you find yourself robbed or low on money. Even if you find it difficult to cash them, at least you'll have a backup in case your purse is stolen. 

Third: Find a bank near you and ask two questions: Can you (the bank) recommend a bank that has Euors (or pounds, for England) on hand? If so go there and exchange money while in the U.S. it is cheaper.  Second: If there isn't a bank near you that has currency on hand ask them to order it for you. But, you must leave some time for the money to come in. This costs more but is still at a better rate than exchanging money in the country itself.

There are just a few ways, besides owning a debit or credit card, that you can make travel a bit easier on you. 

~ H-Cooke

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