Plan foreign credit card spending this Easter break

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Plan foreign credit card spending this Easter break

Thu 18th Feb 2010

Consumers heading abroad this Easter have been advised to plan their credit card spending in advance to get the most for their money.

According to Caxton FX, as credit card rates are currently at their highest level in 12 years, it is important to work out your spending so that you do not end up being charged large sums in interest.

Instead, consumers could try using a prepaid card from Caxton FX, as it does not carry any extra fees or charges on what you spend, as well as only allowing you to spend what has been loaded onto the plastic.

James Hickman, managing director at Caxton FX, said that most cards add a 2.75 per cent levy on foreign exchange mark-up, in addition to charging commission.

The company also recently pointed out that charges that are applied by some companies to people who are sending money back to their home country from the UK can be avoided by using an Financial Services Authority approved method.

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