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The British public are expected to spend over £2.6 billion on trips during the upcoming bank holiday weekend, research from American Express reveals.
According to the research, a fifth (20%) of British people are planning on taking a trip this weekend. Those going abroad will spend an average £280 each, while those taking a staycation will spend an average £235. Of this, both those going abroad and staying in the UK are expected to spend the most on accommodation, £70 and £65 respectively, followed by travel, and then meals and drink. Those who decide to stay at home during the long weekend are still expected to spend an average £76 each on extra activities, such as shopping (43%), eating out (39%) and going for drinks (38%).
Holidaymakers heading abroad this weekend should be careful to avoid unexpected travel costs, such as extra fees using credit and debit cards. The best way to avoid these costs is to use a travel credit card that has a 0% foreign usage charge. The card that currently sits at the top of our travel credit card chart is Santander Zero Credit Card Mastercard, which offers no charges for usage worldwide, and 0% on purchases for 12 months. There are no fees to withdraw cash at home or abroad, but an interest rate, at 18.9% APR will apply, unless you pay off your credit card balance in full.
Holidaymakers should also consider changing their money into the local currency before travelling to get the best exchange rate available.
For those taking a UK trip, booking hotels and travel on credit cards can offer protection on purchases of £100 and over, in case there are any problems with the booking. A 0% purchase credit card not only protects purchases but is also interest-free on purchases made during a specific time period. The card at the top of our 0% purchase credit card chart is Barclaycard’s Platinum 27 Month Purchase and Balance Transfer Visa, which charges 0% interest on purchases for 27 months, after which it reverts to 19.9% APR.
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