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Best credit cards abroad
If you're planning to escape the rain and jet off somewhere hot this summer be sure to use the right credit or debit card so you don't face some unpleasant statements on your return. The wrong card can add nearly £100 Every time you use your card to make a purchase or withdrawal, you will be charged an exchange-rate loading fee of around 2.61% in the USA and 2.56% in Europe. You will also be stung with another fee for withdrawing cash of around 2.3%. Luckily a few providers offer cards that don't charge, or levy a smaller fee. Nationwide's debit card levies no charges for withdrawals or purchases, while its credit card charges a just a 2% withdrawal fee. The Post Office Classic Mastercard also doesn't charge a foreign loading fee and just 2% withdrawal fee. While withdrawal fees are unavoidable with credit cards, you can keep them to a minimum by making one or two large withdrawals during your holiday, instead of lots of small ones - although caution is advised when carrying large sums of money on holiday. If you're opting to take cash or travellers cheques instead of using a card it's important to shop around to get the most currency for your pounds. Be careful not to get lured in by announcements of commission-free currency from bureaux de changes, because they'll making profit elsewhere, usually with a poor exchange rate. It's important to weigh up commission versus the rate, and M&S Money and the Post Office are usually a good place to start.
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