Declined
For those finding themselves venturing far from home and engaging in substantial expenditures using their credit card, here’s a valuable piece of advice: consider reaching out to your bank or credit card company prior to embarking on your journey. By informing them of your travel plans, you can mitigate the risk of encountering issues such as having your legitimate purchases flagged as potential instances of credit card fraud. This precautionary measure is particularly prudent when making sizable transactions from locations that deviate from your usual spending patterns. Failure to notify your financial institution of your travels could result in charges being denied, causing inconvenience and disruption during your trip.
This is a concept that I’m well aware of despite not being wealthy, not traveling frequently, and not having many opportunities to make significant purchases. So, it begs the question: How do affluent individuals seem to overlook such a basic aspect of financial management? Are they perhaps inexperienced in traveling or making substantial acquisitions? It’s a puzzling scenario that prompts speculation about their level of awareness and attentiveness to financial matters. One would assume that those with the means to indulge in frequent travel and substantial purchases would possess a heightened understanding of these nuances. Yet, instances like these raise doubts about the extent of their financial literacy and foresight.