You are here: Home - Uncategorized -

Post Office calls for credit card caution

Written by:

With 2.4 million people planning to spend the Christmas period abroad, the Post Office is warning travelers not to be caught out by hidden fees on their credit card.

Just under a fifth of those heading abroad during the Christmas and New Year period are planning to visit Spain, 6% are planning to visit France and 5%, Italy.

Around 1 in 10 plan to travel further afield to the US, with many likely to take advantage of the weak dollar. However, those planning to use their credit card abroad could be in for a big shock because of hidden charges.

The majority of credit cards charge a typical 2.75% for each transaction made overseas. However, Post Office credit card customers can use their card worldwide without incurring any commission charges.

The Post Office is therefore urging consumers to check with their bank or credit card provider whether they will be paying a fee to shop overseas before they go.

Post Office director of lending Gary Fitton said: “For many people, going abroad for Christmas is a great way to relax and not have to worry about cooking Christmas dinner. However, with 49% of UK holidaymakers planning to use their credit card when shopping abroad many people could be returning from their Christmas break with a lot more than just memories and mementoes due to hidden card charges.”



Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
New Star issues UK equity outlook

New Star anticipates progress in the equity market in 2008 after uncertainty in the latter half of 2007.