£16 million to use cards abroad

Credit card users intending to go abroad for Easter have been warned to guard against incurring foreign use fees.

Many card providers charge a fee for overseas use, according to the nationwide building society.

Last Easter, Britons travelling abroad incurred nearly £16 million in such charges for using their credit and debit cards.

Jeremy Wood, divisional director at Nationwide, remarked: “People who are planning to go abroad this Easter should be aware of the hidden charges that most card providers impose which are both costly and unnecessary.”

In other credit card news, 20 providers have this week been referred to the office of fair trading for “unfair practices”.

The complaint has been made by consumer rights organisation Which? under legal rights afforded to such organisations.

Which? conducted an investigation which found 12 different methods of APR interest calculation in use between the 20 operators.

Consumers would find this confusing and it hinders attempts to make accurate comparisons between the products, the group says.

© Adfero Ltd

Leave a Reply

Your email address will not be published. Required fields are marked *