Holidaymakers 'to waste millions on credit card charges' - By: Davis Morris

Holidaymakers heading abroad from the UK this year are set to waste millions of pounds on credit card charges, it has been claimed.

According to research conducted by Post Office Credit Card, such bank charges will amount to £62 million between now and the end of 2010.

In total, consumers will part with around £3 billion using plastic while enjoying themselves on foreign shores, the firm suggested.

Meanwhile, 4.8 million people could risk wasting cash on charges, it added.

Of the consumers polled by the organisation, 55 per cent said they would incur credit card charges by their banks for using their plastic abroad.

Also, 13 per cent revealed they are unsure as to whether they would face penalties.

Responding to the figures, Post Office head of cards Az Alibhai said: "This summer millions of travellers will waste money on unnecessary fees and worryingly many are not even aware of how much this will increase their holiday spending.

"Holidays should be a time to relax and enjoy yourself, but these extra pounds paid every time you make a purchase could result in extra stress when the credit card bill arrives."

The Post Office also cited research from the Payments Council, which suggested credit cards are still the most popular way for consumers to spend abroad.

Commenting on this point, Mr Alibhai stated consumers should ensure they regularly check which deal is best for them.

This could help individuals avoid potentially costly bank charges.

Such considerations may be particularly relevant at present, with many consumers still experiencing financial pressure as a result of the ongoing economic problems caused by the credit crunch.

Indeed, some people may sacrifice their summer holidays altogether this year, while others may take a trip in the UK instead of flying somewhere more exotic. So-called "staycations" have risen in popularity over recent times.

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