Credit cards Updated:
The Nationwide Building Society has announced that its debit and credit card customers will be charged for using their cards outside Europe. The society currently pays fees incurred by its customers when transactions are made in certain currencies other than sterling. This practice, which has won wide praise and has been heavily advertised, will stop on 6 May 2009 on credit cards and 1 June 2009 on debit cards, with fees passed on to customers. The current fee is 0.84% but will increase to 1% from 1 July this year. Nationwide has cited the economic crisis as the reason for the policy change and will be contacting its credit card customers to give them full details this week. Thomas Cook also recently announced that it would be passing on charges to holders of its Personal Finance Credit Card Visa, who had not previously been subject to overseas charges. However, there are still products that offer charge-free overseas usage. The Post Office offers two credit cards - the Classic MasterCard and Platinum MasterCard - that do not incur charges. Keep checking Moneyfacts' credit cards for use abroad comparison table for the best deals available.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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