The Surprising Travel Essential: Why I Rely on a Debit Card Abroad

Traveling is an exhilarating experience filled with new adventures, cultures, and cuisines. As someone who has explored nearly 90 countries, I constantly seek ways to maximize my travel budget through points and miles. While many travelers often focus on credit cards to earn rewards, one of my most-used cards when traveling abroad might surprise you: it’s not a credit card at all, but rather a debit card.

The Schwab Bank Visa® Platinum Debit Card has become my go-to card for both domestic and international travel, and for a very good reason: it allows for fee-free ATM withdrawals worldwide. In many countries where cash is essential, having access to local currency without incurring hefty fees provides peace of mind. Upon landing, I can breeze through customs, head directly to the ATM, and start my adventure without delay.

Why the Schwab Platinum Debit Card is a Game Changer

The Schwab Platinum Debit Card is linked to the Investor Checking Account from Charles Schwab Bank. What sets it apart is the reimbursement for unlimited ATM withdrawal fees globally, making it a must-have for any traveler. There are no fees to open the account, nor are there monthly maintenance fees, making it accessible for everyone.

On my recent trip to Serbia, a country where cash is king, I quickly realized the importance of having local currency. I couldn’t even leave the airport without it, as I needed to pay for a taxi. Throughout my stay, I withdrew cash multiple times, and without the Schwab card, I would have incurred nearly $100 in ATM fees alone.

Additionally, I enjoy the occasional visit to casinos while traveling. On one such visit, I encountered a $20 ATM fee that could have caused a mini-panic attack. Fortunately, I remembered that my Schwab card would reimburse me, alleviating my concern.

Pro Tip: When withdrawing money or making purchases abroad, always choose to transact in the local currency. Declining dynamic currency conversion can save you from unnecessary conversion fees that won’t be reimbursed.

Balancing Credit and Debit for Optimal Rewards

While the Schwab Platinum Debit Card is essential for cash withdrawals, my credit cards remain central to my travel strategy for earning rewards. I typically use four key cards when traveling: three travel rewards cards and one cash-back card. Each card plays a vital role, but the Chase Sapphire Preferred and American Express Gold are my primary choices.

Both of these cards do not charge foreign transaction fees, allowing me to use them freely abroad. The Sapphire Preferred is my go-to for hotel stays and general travel expenses, earning 2 points per dollar spent on all travel purchases. For dining, I often rely on the Amex Gold, which earns 4 points per dollar spent at restaurants worldwide. However, since Amex isn’t as widely accepted in some countries, I use my Sapphire Preferred as a backup dining card.

The Sapphire Preferred allows me to earn valuable Ultimate Rewards points, which can be transferred to one of Chase’s numerous airline and hotel partners. For example, on my recent trip to Serbia, I transferred 6,500 points to Hyatt for a stay at the Hyatt Place Amsterdam Airport, where the cash price was over $200 for the night.

Utilizing Annual Credits and Benefits

I also take full advantage of the Sapphire Preferred’s annual $50 hotel credit for bookings made through Chase Travel℠. I typically reserve this credit for one-night stays in airport hotels or when I’m in a city for a short time. In some cases, I’ve discovered hotels priced under $50 per night, effectively turning this credit into a free night.

As a self-proclaimed foodie, the Amex Gold card is indispensable. With a $325 annual fee, it’s well worth it for the points earned across various dining categories. This card also earns 3 points per dollar spent on flights booked directly, making it my preferred choice for airline purchases.

The Role of the Amex Business Platinum Card

While my Amex Business Platinum Card doesn’t see much daily use abroad, it’s invaluable for its travel perks. This card provides airport lounge access through the Global Lounge Collection, including Priority Pass Select membership, which grants entry to many international lounges. Depending on the region, these lounges often surpass domestic options in quality and amenities.

The Apple Card: A Surprising Addition

You might be surprised to learn that I also include the Apple Card in my travel lineup. For non-bonus category spending, I often use it with Apple Pay to earn 2% back on all purchases. This card is typically reserved for smaller transactions, such as at pharmacies or souvenir shops, and is usually my last resort when abroad.

One notable advantage of the Apple Card is that the cash back, known as Daily Cash, is available immediately, providing instant rewards rather than waiting until the end of the billing cycle.

Conclusion: Why Every Traveler Needs the Schwab Debit Card

In conclusion, the Schwab Platinum Debit Card is a vital component of my travel toolkit. Whether you’re a novice traveler or a seasoned expert with multiple cards, this debit card should be a staple in your wallet. It’s not a replacement for credit cards but a valuable addition, especially for trips to cash-centric destinations. The ability to withdraw cash from ATMs without incurring fees can significantly enhance your travel experience.

As you plan your next adventure, consider incorporating the Schwab Platinum Debit Card into your financial strategy. It may just become your new travel essential.