Zero per cent credit card a 'savvy move'

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Zero per cent credit card a 'savvy move'

Fri 20th Jul 2007

Holidaymakers are being encouraged to make a savvy move and use a zero per cent interest credit card when travelling abroad this summer.

Research from the Post Office shows that nearly half of Britons plan to use their credit cards abroad, spending some £9.4 billion in the process.

The group also believes that with the majority of credit card providers charging 2.75 per cent for each transaction made, consumers could be losing out on some £258 million in fees.

Many Britons are not aware of the charges that many providers impose, with over a third believing that their transactions made are charge-free.

Head of lending at the Post Office, Gary Fitton, said: "We are now four times more likely to spend on plastic abroad than ten years ago. 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."

The Post Office claims that people could save £55 in fees while abroad by using a zero per cent compared to at typical card.

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