01244 950 304

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.

Compare Credit Cards

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.

More Credit Card Guides

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 950 304

Expert advice from our in-house advisers

What would you like to discuss?

By submitting your details you are agreeing to be contacted by a SoSmart Money adviser who will be able to discuss your requirements, and that you agree to the terms of our Privacy Policy.

Why SoSmart Money? aled

" SoSmart Money are specialists when it comes to mortgage and insurance advice..."

How can we help you?

SoSmart Money are specialists when it comes to mortgage and insurance advice. 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 lender and product for your needs.

Speak to one of our experts for mortgage advice, life insurance cover, to protect your income, insurance your home or contents and private medical cover.

trust pilot

"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."

awards

Winner of AI Finance awards 2015 for:
Best personal finance comparison site &
Best online price comparison platform

FAQs
  • How do SoSmart Money make their money?
  • Which products can I compare with SoSmart Money?
  • Who are SoSmart Money?
  • What lenders do you compare?
  • Will I be contacted by other companies?

latest news View All News

Sign up to our newsletter