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Credit card holders 'should watch out for foreign usage charges when travelling'

Credit card holders have been warned to look out for foreign usage charges on cards while travelling abroad this winter.

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18 November 2009

Credit card holders 'should watch out for foreign usage charges when travelling'”

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According to a new study, some credit card companies charge up to 2.99% for purchases and cash transactions, applied each time the credit card is used.

Credit cards that do not have a foreign usage charge within the EU include Nationwide, the Post Office and Saga, the report found.

Nationwide and Saga charge just 1% for foreign usage worldwide, while the Post Office charges 0%, the Moneyfacts survey also revealed.

Analyst at the firm Michelle Slade said: "If customers are going to make a lot of card payments abroad, it may be worth taking out a card with the Post Office, which remains the only card provider making no additional charge for foreign usage."

Those travelling within Europe or the US may want to consider using a prepaid currency card, which can offer a good rate on euros and US dollars.

The cards are available from FairFX, Caxton FX and MyTravelCash.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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