Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

News archive

This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

27/06/2012 12:08:20

Half unaware of credit card charges abroad

Over half of those who have used a credit card abroad were aware that doing so would incur additional charges as well as the transaction fee and interest.

Moneysupermarket.com also found the same amount (57 per cent) were not aware of the perils of dynamic currency conversion, where you pay for a product in pounds sterling and get hit by a rate which favours the retailer.

Following these findings, Bob Atkinson, travel expert at MoneySupermarket.com, had the following financial advice for holidaymakers.

"If you are planning to use cards abroad then it pays to be clued up on all the charges involved in doing so before you jet off.

"Failing to do so means you will probably face a hefty bill on the doormat on your return when in fact you thought you had snared a bargain."

Moneysupermarket's research mirrors that of uSwitch.com, which found that four in ten people were planning to use their credit cards to pay for things on holiday and three per cent would use them to withdraw cash.

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