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"Be careful" of overseas credit card costs

Credit card customers heading overseas have been urged to take care.

More from Spending Money Abroad
16 January 2009

"Be careful" of overseas credit card costs

Writing for the Motley Fool, Rachel Robson explains some cards include foreign use charges and recommends people make themselves aware of them before jetting off to enjoy some sun.

She notes cash withdrawal charges tend to be between two and three per cent, with a minimum charge of between £2 and £3.

"Withdrawing money on your credit card is never a good idea, even in the UK. But when you're abroad, it can be a greater temptation because you're more relaxed and out to have a good time," Ms Robson notes.

She concludes by recommending people take plenty of money with them so they do not have to withdraw any as cash machines often come with "hefty" interest rates.

In recent days, James Daley wrote in the Independent that if people make good use of their credit cards, they could take advantage of "all the benefits" they offer, such as interest-free introductory periods.

Posted by Alex Adams

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