Going on holiday? if so switch to a cheaper credit card

January 16, 2007

A study has shown that average holidaymakers are spending over £81more than they should be whilst they are on holiday. This of course depends entirely upon the credit card which they use, but generally they are spending more due to interest charges as well as other fees.

This extra money is being charged because of some credit cards overseas charges. Now, not all credit card companies charge fees for using their cards abroad, but sadly many do and often their customers are not aware of it. Even if they are aware, a lot of the time they do not think that they can do anything about it. It is thought that around £1.50 is added on top of the 2.75% charge for purchases and if you purchase a lot of things on your card, that could add up to quite a large sum!

Whilst on holiday people do tend to forget about their money worries and their cards are used fairly frequently. After all, it is not something you want to worry about once on holiday – you are purely there to enjoy yourself. However, if you do not watch what you are spending, particularly with such high fees, you could end up in a lot of debt ready for when you get home. It is thought that the average Brit spends around £800 whilst some even go up as high as £2,000. The fees on top of that will be horrendous and whilst most fee charges tend to average £81, if you do spend £2,000 on your card it will be a lot higher!

So, the answer is to use a card which does not pose any charges whilst you are abroad. If you cannot find one, just look for a cheaper card. That will really save you a lot of money. After all, why pay more when you don’t have to?