Brits 'spend millions' on credit cards abroad
Sponsored Listings
We list abroad credit cards that offer fee free foreign transactions & those that charge for use ... 2. Your credit profile is mapped against credit cards ...
www.money.co.uk
Nationwide is the only UK card issuer not to charge any international handling fees on foreign card purchases and withdrawals.
www.creditcards.co.uk
Brits are spending millions of pounds in foreign exchange fees because they are using credit cards abroad, according to research released by Abbey.
Using credit cards abroad can incur foreign exchange fees and, according to research by Abbey, Brits pay millions of pounds in these fees each year "unnecessarily".The bank calculated that people from the UK spend around £73 million in foreign exchange fees every year. It conducted a poll which revealed that 57 per cent of holidaymakers use a credit or a debit card to pay for purchases abroad.
Abbey's survey also showed that the average tourist from the UK uses their credit card abroad to pay for 41 per cent of their holiday expenses.
Callum Gibson, head of credit cards at Abbey, described the figure of £73 million as "a staggering and unnecessary sum at a time when people are having to manage their finances more carefully".
Recently, Tesco Personal Finance recommended that Brits looking to save money on their holiday expenses should also exchange their currency before they get to the airport or their point of departure, as they are likely to get better rates.
© Copyright
Sponsored Listings
Get 0% on balance transfers for 15 months and 0 % on new purchases for 3 months with Nationwide's low rate Gold Credit Cards: apply for a credit card online. Terms ...
www.nationwide.co.uk
Credit cards charge a foreign usage charge, some as much as 3% for both purchases and ... Using your Credit Card or Debit Card abroad has become more common with travellers ...
moneyfacts.co.uk
Information and advice on using your credit card abroad. Is it cheaper using credit cards abroad and is it safe, consider other payment options when ...
www.prudentminds.com
Related Articles
- Lovemoney.com advises borrowers to consider a balance transfer credit card - 24th February, 2010
Britons have been advised that taking out a zero per cent balance transfer credit card could be an effective method of tackling the problem of interest charges.
According to a new study by the money education charity Credit Action, interest charges make up an enormous percentage of many consumers' outgoings... - Virgin Money's balance transfer credit card rated the best - 17th February, 2010
A leading personal finance expert has advised Britons that balance transfer credit cards can help borrowers to cut their interest and tackle their debts.
Money Mail's James Coney stated that the Virgin Money Mastercard, which offers 16 months interest-free at 2.98 per cent, is the best balance transfer credit card on the UK market... - Millions of Britons are unable to secure balance transfer credit cards - 18th February, 2010
Banks have been urged to offer their products to millions of Britons who are presently unable to access loans, overdrafts and all types of credit cards, including balance transfer credit cards.
The plea has come from the Better Banking Campaign, a body comprised of charities and local groups, which has claimed that up to seven million people are unable to access some regular banking services... - Lovemoney.com expert endorses the Barclaycard balance transfer credit card - 4th February, 2010
A personal finance expert has advised Britons to consider taking out the new balance transfer credit card from Barclays.
Jane Baker of lovemoney.com has insisted that the bank's zero per cent balance transfer credit card could help consumers to ease their debt burden... - Balance transfer credit card customers at risk from fraudsters - 12th February, 2010
Balance transfer credit card holders have been warned that fraudsters have found a way to exploit major flaws in the chip and pin system using stolen cards.
Researchers at Cambridge University have claimed that the fraudsters are placing a "wedge" into the terminal to convince it into believing that the correct security numbers have been entered into the system... - Lovemoney.com identifies the 'best balance transfer credit card' - 26th February, 2010
Britons who are paying interest on outstanding credit card debt have been told it "makes sense" to move that debt onto a zero per cent balance transfer credit card.
Serena Cowdy of lovemoney.com stated that the Virgin Money credit card is the best on the UK market, provided consumers are aware of how to use the balance transfer card product... - Balance transfer credit card deals signal economic recovery - 19th February, 2010
The re-emergence of interest-free balance transfer credit card deals is an indication that the UK is on the road to economic recovery, 24-7 press release reports.
Interest-free balance transfer deals enable banks and credit cardholders the opportunity to shift credit and debt... - Lovemoney.com rates Barclaycard's new balance transfer credit card - 15th February, 2010
A personal finance expert has endorsed the new balance transfer credit card from Barclaycard.
As part of lovemoney.com's annual review of the best balance transfer credit cards and current accounts on the UK market, financial advisor Jane Baker praised the new Barclaycard product because of its "generous interest-free period on balance transfers"... - Balance transfer credit card customers experience interest rate rises - 16th February, 2010
Balance transfer credit card holders have been told that interest rates on credit cards have reached the highest level since 1998, new research has stated.
According to moneyfacts.co.uk, balance transfer credit card providers have hiked rates due to unemployment and concerns over people's ability to repay debts... - Moneysavingexpert.com reveals rise in balance transfer credit cards - 8th February, 2010
The number of interest-free balance transfer credit card deals has increased as more banks offer to clear debt at cheap rates, according to moneysavingexpert.com.
The website has listed seven cards with a 15-month or more zero per cent period, while there was only one such card available this time last year...