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Post Office calls for credit card caution

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11/12/2007

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.”

 

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