- Adverse Credit. When is a credit history described as adverse ?
- When do have an adverse credit rating? The situation is far from clear but this article sheds light.
- Personal Loans – do your research before signing up
- This article discusses the importance of doing your research before signing up for a personal loan.
- Personal Loans – do your research before signing up
- This article discusses the importance of doing your research before signing up for a personal loan.
- Car Loans Drive down the cost
- Usually the cheapest way to finance the purchase of your car is usually with a personal loan. But there are other methods. This article explains.
Summary
A few timely reminders on how to avoid extra charges on your credit and debit cards whilst travelling in euro-land.
(best loans)
Credit Cards Watch out when using your credit card abroad
Author: Michael Challiner
Going on holiday or business to Spain, France
or Italy this year? Then watch out for a new ploy to overcharge your credit or debt card. (life insurance advisers)
Many restaurateurs and retailers in these countries now have the facility cheap mortgages to get you to authorise your bill in euros but then they recharge your card in sterling. That sounds innocent but theres a sting in the tail. The retailers charge you an additional service fee of up to 4%! The system is called dynamic currency conversion (DCC).
DCC guidelines from Visa say that UK cardholders should be offered the option to either have their card charged in euros or to have the transaction changed into sterling before it goes through. It seems that in practice, few of us are being offered the alternative. Many retailers are charging us in sterling automatically - and with the extra 4% fee!
The language barrier might explain the lack of explanation but we are a cheap life insurance little more cynical! Even where permission is sought, we doubt whether many restaurateurs or retailers will clearly spell out the additional service fee. After all its an opportunity to make a bit more profit! (mortgage quotations)
Our advice is that when abroad in euro-land always ensure that your transaction is processed in euros. Thats because some UK card operators such as Nationwide, Saga and Lombard Direct will convert euros to sterling at no charge. Others, such as cards from our high street banks, will charge 2.75% as a foreign currency loading fee - but even thats less than the retailers 4% DCC.
In fact even with a 2.75% foreign currency loading fee, motor insurance itll still be cheaper to use your credit card rather than converting sterling to euros before leaving the UK or converting it abroad at the bureau de change. Thats because the exchange rates applied by Visa and Mastercard are often much better than youd get for your cash and travellers cheques whilst abroad. And please dont be fooled by the commission free advertising outside the bureau de change. They might not charges commission but their currency rates are never cheap - after all, how else do they make a crust?
And another bit of helpful advice. Unless its an emergency dont be tempted to use your plastic to withdraw euros. Thats because as with all cash withdrawals, interest will be charged from the minute the euros leave the cash dispenser. Remember, theres never any interest free period on cash withdrawals. (mortgage quotes)
Click here for page 2
The URL for this web site is owned by Saggitta Web Design Ltd. Under agreement with Saggitta Web Design Ltd, Alliance Internet Ltd uses, runs, manages, operates, designs, produces copy and displays information on this web site.