Britons planning to use their credit cards while on holiday this year have been warned to be careful they do not incur large fees as a result of their spending.
According to Post Office, the financial services provider, 49 per cent of UK holidaymakers plan to make purchases on their credit cards overseas.
This is a total credit card spend of £9.4 billion, potentially leading to £258 million being spent in fees, with providers levying an average charge of 2.75% on each transaction.
However, the company also claims that 47% of credit card uses are not aware that they will be receiving such charges.
Post Office head of lending Gary Fitton said: "We urge holidaymakers to check with their bank or credit card provider whether they will be paying a fee to shop overseas before they go."
He added that a large number of good value 0% credit cards exist, potentially meaning that Britons will not be caught out financially.
Credit card provider Capital One recently warned Britons of the dangers of losing one's wallet, stating that it could lead to identity fraud.
News Side
Credit card warning over fees
Fri, 20 Jul 2007
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