Credit card overseas spending limits lifted

March 14, 2023 at 5:57 PM

Credit card issuers have lifted the limits on overseas use as foreign currency conditions improve.

This move provides cardholders with higher spending thresholds when traveling abroad.

Last year, when the country’s foreign currency conditions were tight, banks issuing credit cards imposed daily limits on overseas card usage to conserve foreign currency within the country.

However, recent excess foreign currency liquidity conditions in the local banking sector have led credit card issuers to remove these limits.

Cardholders are now free to spend up to their credit card limits while traveling overseas. This change provides greater flexibility for those who rely on credit cards while traveling abroad and reflects the improvement of foreign currency conditions in the country. (NewsWire)