Press Release Summary = Going on a quick vacay or an exotic trip might be on everybody's agenda this summer, however, be aware that you are being ripped off. There is more to credit cards than meets the eyes.
Press Release Body = London, 17th July, 2007: It doesn't matter whether you are planning a girlie trip; a family get together or just some "me" time, your credit card is bound to be your most faithful companion. However, there is a heavy price to pay for their companionship: hidden charges. Recent figures released by Nationwide reveals that Britons spent £326 million on credit card fees while overseas in 2006.
In deference to the eye popping number, financial service providers are urging vacationers to be aware of the hidden charges levied against credit cards, and if possible to take financial help from other less expensive products. Credit cards are a form of unsecured loans which traditionally charges a high rate of interest.
Some of the ways suggested by banks and online lenders include the use of debit cards and paying off in local currency to avoid incurring commission on foreign exchanges.
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