Holidaymakers will be spending on credit cards

A recent report has shown that an increasing number of consumers in the UK are planning to use their credit cards for spending when they jet off on their holidays this year, with traveller's cheques and cash lagging behind when it comes to popular methods of payment whilst overseas. Millions of Brits are preparing to make purchases abroad on their credit cards, and this is in spite of concerns about credit card fraud and extortionate charges often applied by credit card issuers for using the card abroad.

According to the research fewer and fewer people are now opting for travellers cheques when they head abroad, despite the fact that this is a method of payment that is secure. One official stated: "People tend to use cards because they're just more convenient and you know what you're getting. "Whereas I think with travellers cheques you're having to pay a whole range of fees. And in some cases, you just don't find they're acceptable in so many places. It's just a mix."

She also mentioned the issue with the security of using credit cards abroad, adding that consumers were protected in most cases. "The good news is that if you're the victim, your bank will give you the money back. I think that's another reason why people use cards - because they know they don't lose out financially."

Consumers that are planning to use their credit cards abroad should be aware that cre4dit card fraud against Brits abroad is on the up, and should therefore be extra vigilant when using their cards. It is also important to familiarize yourself with any fees and charges that your bank may apply for using the card so that you do not come back to an unexpectedly large bill

Tom Smith
12th August 2007