Financial News & Information

February credit bills can have ‘hidden charges’ for Valentine lovers heading overseas

Posted 2008-01-26

February is a danger month for people using credit cards overseas, says a leading building society.Nationwide believe couples heading abroad for Valentine’s Day contributed to £27m in unnecessary charges in February last year. It advises credit card customers to avoid providers who charge for using cards overseas and to use debit cards instead, as this may be cheaper than using a credit card while on holiday. Holidaying consumers are also being warned about Dynamic Currency Conversion - where the cardholder is given the option to pay in sterling or local currency - as retailers can often determine exchange rates. Nationwide’s Jeremy Wood said: “Couples planning to go abroad for a romantic getaway for Valentine’s Day should be aware of the hidden charges most card providers impose, which are both costly and unnecessary.” ...

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