Consumers warned over credit card charges

British consumers could see their levels of credit card debt soaring because of overseas use charges this summer.

This is due to many peo…

British consumers could see their levels of credit card debt soaring because of overseas use charges this summer.

This is due to many people not being aware of the ways in which they may incur extra costs when they use plastic overseas, Post Office Credit Cards has said.

It revealed its research has shown a quarter of consumers do not know about the charges their provider imposes for overseas use.

On average, travellers spend £463 on plastic and end up being charged £12 for this.

Head of cards at the Post Office Az Alibhai said: "As millions of people prepare for their summer getaway, we urge them to play their cards right and make sure they are not stung by hefty credit card charges."

Recent figures have suggested credit card borrowing has been rising.

Statistics from the Finance and Leasing Association for its members covering May 2012 indicated lending on cards and loans in the month was one per cent up on May 2011.

Posted by Paul Thacker
 

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