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Called Zero, the Mastercard credit card is the only one on the market to offer fee-free foreign usage anywhere in the world, according to Santander.

The credit card provider's comments follow the release of research by Santander Cards which found that a quarter of Brits going on holiday this year intend to dramatically reduce their budget.

A total of four in five Brits intend to go away and of these, ten million intend to dramatically reduce their holiday budget.

The biggest cutbacks were found to be eating out, with 54 per cent of those polled saying they intended to cut back on that luxury, followed by 46 per cent cutting down on spending money and 40 per cent on accommodation.

Callum Gibson, director at Santander Cards, said: "Britons can make their money go further while they're abroad by always paying in the local currency - to avoid being charged a dynamic currency fee for converting the purchase to sterling - and using a credit card that doesn't charge a fee for converting transactions made in a foreign currency."

The director also said that the credit card has no fee for cash advances, which could make it useful for times when holidaymakers have to take cash out in an emergency.

Phones4U has also recently launched a card called Escape which could be useful for those travelling abroad as it offers free international money movements.

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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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