Credit card 'could save families money on holiday'
A new credit card that offers fee-free foreign exchange could make holiday spending less expensive, Abbey has said.
Credit card 'could save families money on holiday' ”
A new credit card that offers fee-free foreign exchange could make holiday spending less expensive, Abbey has said.
The bank suggested that school holiday premiums can increase the price of a family holiday by up to 40%.
People who do have to pay the inflated premiums can at least save money on currency exchanges, said Abbey.
The bank relaunched its Zero credit card earlier this month, which is the only credit card to offer fee-free foreign exchange.
Head of credit cards at Abbey Callum Gibson said that "while school holiday premiums may be inevitable, Britons heading abroad this summer can save money by cutting out unnecessary costs such as foreign exchange fees, which are charged by most providers for card transactions made in a foreign currency".
Abbey credit cards research found that the highest increase in premiums were on package holidays to Portugal. These increased in price by an average of 40 per cent from mid-July to mid-August.
Meanwhile package holidays to Spain increased just six per cent in the same time period, according to the credit card provider.
The Abbey Zero credit card offers 0% for three months on purchases from the date the account is opened. The rate then increases to 18.9% APR typical.
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