- Tuesday, 1 June 2010Consumers could stay on top of their
debt management plans by following advice from the UK Cards Association about using credit cards abroad.
Interest rates on cards can be high and if a borrower only repays the minimum each month, extra money can easily accrue on top of the original debt and leave people struggling to meet the terms set out in their
debt management plans.
The UK Cards Association in partnership with ABTA, the travel association, published a guide on how to use cards abroad on May 28th.
Research from the cards association shows that overseas purchasing on UK-issued cards amounted to just under three per cent of all card transactions last year and allowed Britons to spend £17.7 billion abroad.
Melanie Johnson, chair of the UK Cards Association, said: "Thanks to their flexibility and convenience cards have become our preferred travel companion.
"Although card spending abroad was down slightly last year - no doubt due to the economic downturn - their use has grown almost threefold over the past decade."
Tips include only taking cards that will be used, shielding Pins when typing them into a cash machine or card reader at a restaurant, never giving the Pin to anyone and keeping cards in view at all times.
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