Changing credit cards could make Holidays more Affordable, report finds

By Reno Charlton Staff Writer 8 June 2009

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Holidaymakers facing high prices this summer could save money by changing their credit card, research released this week revealed.

Industry officials reported that people planning to head abroad, and even many that plan to holiday in the UK, could be stung by high costs this year.

Research conducted by Abbey Credit Cards revealed that once the school holidays start prices at many popular destinations shoot up by an average of 25%. This, added to the fact that the pound is still weak against the euro, will mean that those planning to take family holidays abroad will be amongst those hardest hit financially.

Abbey were also quick to point out that families also suffer when they pay those inflated prices using credit cards with high charges for foreign transactions. Most credit cards charge a 2.5% foreign transaction fee at the very least.

Brits planning to head abroad for the summer holidays could offset some of the other costs involved in going on holiday during the peak season by moving away from these high-cost credit cards, Abbey suggested. This would allow consumers to continue to enjoy the benefits of using a credit card abroad such as access to money in case of emergencies and avoiding the hassle and inconvenience of having to carry cash or traveller's cheques around whilst overseas.

Predictably, Abbey offered its own low-cost Zero credit card as an alternative for those looking to minimise credit card charges abroad. Post Office, i24 and Egg credit cards can also help holidaymakers to minimise costs abroad.

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