Britons not clued up on high overseas credit card charges

More than half of Brits are paying unnecessary charges when on holiday due to a worrying lack of knowledge about overseas credit card costs.
A recent survey by found that some 52 per cent of UK travellers have used their credit card abroad, with 22 per cent doing so in the last year.

However, it also revealed that 57 per cent of travellers who have used a credit card when in another country didn’t know there may be additional charges on their card, as well as transaction fees and interest .
Over half (54 per cent) weren’t aware that interest is charged on all overseas cash withdrawals made using a credit card; 49 per cent didn’t realise they could be charged a fee every time they use their plastic on their travels; and 41 per cent were unaware that the transaction on a card abroad will be converted at the provider’s exchange rate .
Commenting on the findings, Bob Atkinson, travel expert at said: “It’s extremely worrying that such a high number of holidaymakers are not aware of the extra fees or charges that apply when using a card for purchases or withdrawals, or that they may not be getting the best exchange rate .”
“Every major credit card, bar one, charges interest from the date of withdrawing cash at an ATM, many have loading fees for over the counter purchases, but you should always check before heading abroad.”
“Failing to do so means you will probably face a hefty bill on the doormat on your return when in fact you thought you had snared a bargain.”