Do credit cards and debit cards need to be declared at customs?

Has anyone here ever run into trouble carrying payment cards across borders? I know that many countries place limits on the amount of money you can take into or out of the country, but what about money on credit cards, debit cards, prepaid cards, gift cards, etc?

Good question. This is a gray area and one that is worth paying attention to. Most financial instruments, including debit and credit cards, work by rearranging debt rather than transferring real money, and therefore do not qualify as currency imports. The credit or debit card simply gives you access to your credit line or bank account. However, certain types of payment cards (including some prepaid cards and gift cards) have a face value or stored value, and may be counted as currency for customs purposes in some countries (the U.S. for example).