Using Tesco Credit Card Abroad

lisa26_2

Hi All, I'm going on hols in a few weeks (canary Island if that makes any difference!) and wondered if using my tesco credit card is advisable? i'll have some cash with me, I just want something extra as a back-up incase I need more and OH said he assumed we'd take credit cards and use them if needed. i've never had a credit card until recently but have it in my mind that it works out expensive using them abroad. Am I right?

Thanks x

dbmabz

Yes Tesco like most credit cards add a foreign exchange fee on to any foreign transactions. So you will have 2.75% added onto any purchases made abroad.

However the actual exchange rate used to do the conversion is usally better on a credit card than what you get changing cash.

So you gain on the exchange rate and lose on the fee.

bengal-stripe

Use the credit card for purchases: hotel (if not paid in advance) shopping, food, drinks, excursions etc. but do not withdraw Euros in cash. There is a higher interest rate for ‘cash withdrawals'.

When you pay by CC, always make sure that the transaction is in EUR. Merchants are quite keen to charge in GBP, then they do their own conversion which is usually (probably always) a worse rate than your CC will charge.

Have a nice time.

davetrousers

bengal-stripe wrote: »

When you pay by CC, always make sure that the transaction is in EUR. Merchants are quite keen to charge in GBP, then they do their own conversion which is usually (probably always) a worse rate than your CC will charge.

And also whenever withdrawing cash (whether with credit or debit card) the cashpoint will show you a value in £ press NO to this.