Get debt advice before jetting on holiday

UK consumers landed themselves with £122 million of debt from credit card foreign exchange fees last year, according to new research.

Santander Cards has found that each traveller spends on average £600 on credit cards overseas. That means we spend £1.5 billion collectively on credit cards.

This racks up when using credit cards abroad comes with an additional fee of around 2.75 per cent.

According to the research, one in five travellers relies on their credit cards primarily, with a further eight million using it as their secondary means.

In times of thrift and the need for better debt management, the firm says "foreign exchange fees are one expense that those travelling abroad this year can definitely do without."

Get debt advice before jetting on holiday

17/02/2010

UK consumers landed themselves with £122 million of debt from credit card foreign exchange fees ...