'Credit' best in any language: Using plastic while abroad saves hassle, money

Traveler's checks used to be as common as a hot meal on a cross-country flight. Not anymore.

Nowadays, more and more travelers are opting to use credit and debit cards when they travel overseas to take advantage of more favorable exchange rates along with other advantages the cards offer, experts say.

Transactions involving credit and debit cards have better currency exchange rates because Visa, MasterCard, American Express and other giant credit card companies process millions of transactions a day. That gives them pull with banks to negotiate better exchange rates than those obtained for individual transactions.

Credit cards can provide protection in case there is a dispute over a purchase, as well as an itemized account of spending. Debit cards allow travelers the convenience of pulling local currency from ATMs, as opposed to waiting in line at a bank or money exchange counter to cash a traveler's check.

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