YOU'VE already started counting the days until you jet off to the beach - but have you given any thought to which debit card you are going to use while away? Using the wrong plastic abroad comes with hefty fees which can be a nasty surprise when your next statement rolls round. Here's what you need to know. Why can't I use my normal credit card for spending when I'm abroad? No one is stopping you from using it. But if you do, it's likely you'll be hit by a host of hidden charges. There are lots of different fees to be aware of, according to Andrew Hagger of personal finance website MoneyComms. One of the most common ones is something called a "non sterling transaction fee." This will typically add up to 3 per cent to the cost of any purchases you make when abroad. You should also avoid withdrawing cash on a credit card unless you have to or you'll also have to count in the ATM withdrawal charge - typically between £1.50 and £5.00. To make matter worse some cards … [Read more...] about The credit cards that will rip you off if you use them on holiday
Why credit cards are good
IT was meant to be their dream retirement – living in a lavish villa set amid the palms of Jamaica’s stunning Mount Pleasant. But British couple Charlie and Gayle Anderson last week became the latest victims of a deadly trend sweeping the island, and their tortured remains were found just feet from their home. We can reveal that hundreds of others who have moved back to the Caribbean paradise after living abroad have been killed for cash as part of a credit card scam. Most who emigrated are wealthier than their countrymen and become instant targets. Percival Latouche, who runs a group for returning islanders, told The Sun that he had been to 166 funerals since 2005 — ALL of them murdered returnees. He said: “That is a horrifying number and it is just the ones where I have attended the funeral. "There are dozens more. "It is absolute carnage.” Loved-ones of the Andersons, who were found burned and shot, are convinced they were executed because they raised … [Read more...] about Brits murdered in Jamaica may have been latest victims of credit card scam linked to hundreds of killings in the Caribbean
There has always been a debate whether students in the tertiary education system, usually entering their adulthood, should have access to credit cards or not. While some financial experts and parents are rightly concerned about the possibility that young adults may run into debt problems, the truth is that if students can learn to use their cards smartly from a young age, they may manage to establish a credible and solid credit history for a secured future. As we all know, banks love prospective customers with a long-established credit history and a good score. So, if a student needs a new line of credit in the future, chances of getting an approval will improve manifold if he/she manages to use a student card wisely. 6 Obvious Benefits of Owning a Student Credit Card A robust credit score: A robust credit score can be an asset even if many cardholders don’t realise the benefits of it immediately. A good score can help establish credibility and a life-long relationship of trust … [Read more...] about Why Students Should Have Credit Cards
Hundreds of thousands of pounds were put on credit cards at an under-fire development company, councillors have been told. A report to Northumberland County Council’s audit committee revealed £246,000 was spent by a small group of staff at Northumberland’s regeneration company, Arch, over four years on company cards. Coun Nick Oliver, portfolio holder for corporate resources, told ChronicleLive the “majority” was spent on hospitality, with clear business cases not offered for why the cash was spent. Arch has already come under scrutiny over hospitality cost, with a report revealing lavish meals and £58-a-bottle wine at some events. The latest Northumberland County Council Audit Committee report also revealed council officers had once again contacted police over some findings at Arch. Few details were given, but the committee were told the referral concerned “a potential breach of the law in relation to clearly outlined local Government and … [Read more...] about Hefty credit card bills and a £9m fall in value at Arch, auditors say
In 2013, the average cardholder had 4.1 credit cards but only 0.1 charge cards, according to the Federal Reserve Bank of Boston. Clearly, most Americans are not clued in when it comes to charge cards. It makes you wonder whether they're missing out -- or whether charge cards just aren't worth it. Image Source: Getty Images. Charge cards vs. credit cards vs. debit cards Does It Build Credit? Does It Offer Fraud Protection? Does It Offer Purchase Protection? Does It Charge Interest? Is There an Annual Fee? Does It Offer Rewards? Debit cards No Sometimes No No No No Credit cards Yes Yes Yes Yes Sometimes Sometimes Charge cards Yes Yes Yes No Usually Yes Charge cards are like a hybrid of debit cards and credit cards. Overall, charge cards are comparable to credit cards, except that charge cards have to be paid off in full each month, whereas credit cards don't. Charge cards also offer the superior protection that makes credit preferable to debit in many circumstances. … [Read more...] about Charge Cards: Better Than Debit and Credit Cards, or a Waste of Money?