Money Magic

Travelers planning to celebrate the holidays abroad could find an unpleasant surprise awaiting them when they open next month’s bill-a hidden credit card charge. 

Most consumers are unaware that many credit card providers charge a 2.75 percent fee for overseas transactions, according to the Post Office.

Many of the 2.4 million Britons traveling abroad this season will remain blissfully unaware of the surcharge until they see it on their credit card bills. 

According to Gary Litton, Post Office Director of Lending, many people who left the country to relax and escape the rigors of entertaining during the holidays may return from their festivities with much more than “memories and mementos.”  They may in fact return with significant hidden card charges. 

Litton urged holiday revelers traveling out of country to take precautions to avoid unnecessary card charges so that “the only baggage they return with is the luggage they are traveling with.” 

The majority of holiday travelers will visit Spain, the US or France (17 percent, 8 percent, and 6 percent respectively).  The Post Office estimates that nearly half of them will use their credit cards to pay for purchases and services.

This entry was posted on Wednesday, December 12th, 2007 at 4:33 pm and is filed under Credit Cards. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.