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Using your credit card abroad
If, for whatever reason, you frequently use your credit card overseas then a badly chosen card could lead to you constantly shelling out over-the-odds thanks to some hefty charges.
A typical currency conversion fee is 2.75% of the value of the transaction, which may seem like a non-issue if you spend the odd tenner when you are abroad. However, if over the course of a year of regular travelling you spend in the region of £1,000, you will have spent almost £30 on conversion fees.
There are also a number of additional hidden charges that can result in you paying around £6 for every £100 you spend on your card. If you do travel regularly and tend to eat out when you do, or buy electrical goods because they are cheaper, or whatever, it could very well be worth getting one of the few cards that are offered (by issuers such as Nationwide Building Society)that do not levy this fee.
On a separate note, when you are abroad you should be wary of any restaurant, shop or hotel that offers you the chance to pay in sterling rather than in the local currency. The exchange rates used if you should opt for this seemingly innocent option are often very unfavourable, they can indeed be the equivalent of double the standard 2.75% currency conversion fee that most credit card issuers charge.
Speak to an adviser
Our trained expert advisers have access to the UK’s leading lenders and using their knowledge and skills will place you with the most suitable leader and product for your needs.
01244 264 866
How can we help you?
So Smart Money are specialists when it comes to mortgage and insurance. We have access to the UK’s leading brokers and using their knowledge and skills they'll place you with the most suitable lender and product for your needs.
Speak to an expert for mortgage advice, life insurance cover, to protect your income, insurance your home or contents and private medical cover.
"Matthew at So Smart found me the best deal for my first Mortgage, he was extremely helpful! I would highly recommend this company!"
"I've been looking to switch mortgages recently to secure a better rate and the guys at So Smart Money helped me do just that."
"My mortgage enquiry was dealt with swiftly and professionally. I would highly recommend So Smart Money to others."
"I've used sosmartmoney a couple of times now, I checked my old mortgage with them and it encouraged me to get a better deal."
Winner of AI Finance awards 2015 for:
Best personal finance comparison site &
Best online price comparison platform
