Travel credit cards are a must for businesspeople

The last thing that busy businesspeople want to be worrying about when they head out on an important corporate trip is their travel money.

In the past, we had little choice but to exchange our dollars for pocketfuls of cash and this left us wide open to the problems of loss and theft. There is nothing more frightening than realising that all of your money has gone missing as you walk around an unfamiliar land.

Thankfully, this is no longer necessary as travel credit cards are now widely available and the benefits of such payment solutions are obvious. First and foremost, you have peace of mind that if you somehow lose your card you can easily phone your bank to get it cancelled.

Secondly, some of the multi-currency cards that are being advertised ensure that travellers do not fall foul of fluctuating exchange rates. Aussies were reaping the rewards of the strong dollar earlier this year, which allowed them to get far more value for their money when converting their cash. However, this has started to change.

Since February, the dollar has tumbled by around eight per cent against the US equivalent and the British pound. This would have been extremely annoying for Aussies who had booked trips abroad safe in the knowledge that they would get the best exchange rates.

However, by getting a pre-paid travel card you are protected against sudden dips in the value of your home currency, so you don't have to anxiously scour the foreign exchange markets every day in the lead up to your holiday or business excursion.

Of course, having a number of different currencies loaded on to your plastic is also ideal if you are planning to hop between various countries during one trip. It completely removes the stress of having to constantly get your money changed over when you land at a different airport.

Have a question about travel money? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801390170-ADNFCR