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Your credit card can save you money while on vacation

Monday - 8/1/2011, 11:53am  ET

Kristi King,

WASHINGTON - Despite what your statement says afterwards, your credit card could save you money the next time you take a trip.

A number of companies offer discount deals with restaurants, theme parks or entertainment venues at various vacation destinations across the globe.

Some credit cards also cover rental car insurance, paying for vehicle breakdowns no matter whose car you're driving.

Some card companies have deals with airlines to allow you to skip checked bag fees or get free in-flight movies.

Use a credit card to buy something overseas and the exchange rate your card company gives the transaction will be more to your advantage than the rate money changers or banks give.

The difference can be nearly 15 percent according to Time Moneyland.

To make the most of your credit card exchange rate, don't let a merchant convert the purchase price to dollars before making the transaction.

The exchange rate overseas merchants use to translate the price of a trinket could be excessive.

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(Copyright 2011 by WTOP. All rights reserved.)