Consumers urged to consider overseas credit card charges

Many people planning to use their credit cards while on holiday abroad are unaware that they could be charged additional fees by the provider, according to a new report.

Research by the Post office found that 47 per cent of holidaymakers do not know that they will be charged an average of 2.75 per cent for each transaction they make overseas.

Additionally, 34 per cent of those surveyed thought their provider did not charge fees, despite only two cards available on the market that do not.

Gary Fitton, head of lending at the Post Office, said: "It's shocking not only to see how much people are being penalised to use their cards on holiday, but how few are aware of this."

Holidaymakers should check whether they'll be subject to fees with their card provider before they go away, he advised.

A spokesperson for the UK payments association Apacs recently suggested that more people were using credit cards abroad rather than travellers cheques because they are more convenient.

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