Honeymoon Moneysaver

Recently I learned one very important thing that I should have done prior to booking my honeymoon:

Use a travel based credit card that not only gives you points towards future travel, but also covers your travel insurance (which is not cheap).

After I booked and paid for a good chunk of the trip my travel agent approached me about getting travel insurance for my Madagascar honeymoon.  She quoted various different rates that went as high as $350.00 per person for Gold coverage (whatever that means). After spending as much as we did on the actual trip, adding $700 to the total was not an option, so we will have to go for much cheaper coverage, which most likely won’t cover what we would inevitably need.

I learned recently when applying for a Capital One Venture card that if I had booked our flights on that card, travel insurance would be included.  So not only did I not get points for the expensive flight charge, but now I have to pay more to get insurance.

An added bonus of the Capital One Venture card that I got is they do not charge the mysterious 3% charge that most other cards charge you for international charges.  If you plan on going outside of the US, getting a card that doesn’t charge the foreign transaction fee is a big money saver.

Here is what some companies charge for foreign transaction fees:

American Express: 2.7%
Bank of America: 3&
Barclaycard/Juniper: 2 to 3%
Capital One: 0%
Citibank/Diners: 3%
Diners Club: 3%
HSBC: 3% (most)
JP Morgan Chase: 3% (most)
US Bank: 3%
USAA: 1%
Wells Fargo: 3%

So please learn from me–before booking a big trip, get yourself a good credit card!

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