Credit Cards in Hungary

Credit Cards in Hungary

Hungary is renowned worldwide as being one of the best tourist destinations. It is one of the most successful European countries having an amazing capital city, Budapest. Hungary receives more than 700,000 tourists annually thanks to its culture and remarkable historical sites. However, to enjoy your time in this beautiful country you not only need to have cash but also credit cards.

The commonly used cards in Hungary are Visa and Mastercard. You can use these two in any establishment and make all kinds of payments. American Express is also used but it is limited to some areas. Nevertheless, you need to master the details on spending in Hungary especially if you are visiting. This is to ensure that you understand the type of credit card that will work for you. This also applies to those working and living in Hungary.

The Process of Credit Card Application in Hungary

When making application for a credit card in Hungary you need to have documents such as Hungarian Identity Card proof, address proof, as well as income proof. After submitting your documents, the bank will verify them. If all the provided information is correct, then they will check your credit history. Basically, the banks do put limits on credit card cards depending on one’s credit history.

The fourth step is application evaluation. In this step, every detail of your application is checked for a second time to ensure that everything is correct. The last step is issuing a credit card as well as an accompanying agreement.

Using Credit Cards in Hungary

Having a credit card in Hungary is stress free and you will not encounter problems using it. With a credit card, you are more at an advantage because there are a lot of offers to indulge in. When getting a credit card opt for one that does not attract transaction fees. This is to ensure you don’t end up incurring unnecessary charges which end up increasing your overall expenditure.

Credit Cards in Hungary
Credit card use in Hungary

Budapest being the capital of Hungary has various facilities which are credit card friendly. We are talking of restaurants, spas, shops, stores, bars, petrol stations, and retailers. This is to say that you are in a place where credit cards are widely used without restrictions. It is however advisable that you have some cash with you just in case you come across establishments that do not accept credit cards.

Advantages of having a credit card in Hungary

With a credit card, you don’t need to carry huge sums of money with you. You can make payments big or small using your card credit without any inconvenience. This is a great advantage because it also ensures security especially because of not walking around with lumpsum cash.

Your credit card information is private meaning you are the only one with access. As long as you do not share your PIN with anyone you can be sure that no second or third party will have access to it. This means you will have control over your spending.

When traveling to Hungary it would be wise to have your credit card for ease in making reservations. The process may take a shorter time enabling you to be prepared for your trip. You will also have purchasing power with your credit card and with the ability to purchase anything you wish for.

Disadvantages of having a credit card in Hungary

There are high chances of getting swindled when using a credit card. If you encounter dishonest people, they may end up misusing your card. This mostly happens when sharing information over the phone with salespeople.

Some credit cards attract monthly interest charges which is a great disadvantage. What this means is you will end up paying more for purchases you made. Some ATMs charge high-interest rates when withdrawing money using a credit card.

Some credit card companies have the option of blocking your card without your knowledge. This happens mostly with international transactions. When this happens, you can be greatly inconvenienced.

Credit cards accepted in Hungary

Hungary has not been left behind in technological advancement. Just like many European countries, Hungary has been at the forefront to encourage the use of electronic cards for payments. As such, credit card companies have issued cards to match up with technological progress. It is important to know which credit cards are widely used and which are not to avoid being inconvenienced.

The most used credit cards in Hungary include Mastercard and Visa just as it is with Finland. American Express credit cards are also accepted but not as much. Other places in Hungary consider Discover cards where you will find the Diners Club logo. In addition, Discover cards can be used in Bank of Budapest as well as Citibank ATMs.

Safety measures when using Credit Cards in Hungary

Hungary is not only a beautiful country but a peaceful one too for that matter. However, that does not mean that you should not take precautions when handling your credit cards. Be careful with your wallet and your bags in every place you will visit. Budapest is comprised of all kinds of people and you never know who has an ill motive.

There have been cases of bag snatching, mugging, purse snatching, and pickpocketing in Hungary. The streets are not as safe as many would think. Be careful when you see someone trailing you. Be on the lookout for people going around in groups. They may not have good intentions.

While Hungary may offer safe travel, it is important to be aware of petty crimes that tend to take place. Put your wallet in a bag that you can wear around your waist. A money belt can come in handy for it keeps everything in it out of reach. It also helps you be protective of your personal belongings.

Ensure that you never at any one time share your PIN with anyone. When making payments, do not key in your PIN while everyone is staring. Your PIN code is extremely confidential and it should be treated as such. Take note of hidden cameras and block your keypads as you key in your PIN.