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New capital one card could save holidaymakers millions in extra fees

Commenting on the launch of the new Capital One Aspire World credit card, which offers no fees on foreign transactions and up to 1.25% cashback in the UK, Michael Ossei, personal finance expert at** Uswitch.com, says:** “It’s great to see consumers being offered more choice when it comes to deciding which credit card to use on holiday. This card sits alongside the Nationwide Select, Post Office Platinum and aqua Advance credit cards in offering no exchange rate transaction fee. But, with the added advantage of cashback on UK spending, this card is not just for holidays.

“The timing couldn’t be better for this card to be launched, with one in four consumers planning to use a credit card to cover their spending on holiday this summer. Typical exchange rate transaction fees of 2.75% mean that often holidaymakers come home to a credit card bill that is way over the odds – potentially to the tune of over £300 million. With 0% transaction fees on foreign spending, the Aspire World card will be a definite crowd pleaser.

“Customers should note, though, that they will still be charged for using this card in a cash machine abroad. If you prefer to pay with cash on holiday, do your research in advance to make sure that you get both the best exchange and commission rates. Don’t leave it until the last minute at the airport.”

Credit Card Fees Abroad Based on Most Popular Cards

Source: www.uswitch.com

FOR MORE INFORMATION

Charlotte Nunes

Phone: 020 7148 4664

Email: charlotte.nunes@uswitch.com

Twitter: @uswitchPR

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