The true cost of paying by plastic
22 August 2007
If you use your credit card on holiday, by keeping an eye on your APR* means you could have less to pay back when you return from your holiday assuming you don’t pay the balance off in one go.
The Bank of Scotland One credit card for instance has an APR on purchases abroad of 9.90% yet Marks & Spencer &MORE and Nationwide BS Classic cards which both charge 17.90% on purchases.
ATM withdrawal fees range from 1.5% to 3% and minimum charges start at £2. Capital One credit card users face the highest minimum charge – a whopping £5 is the price they will pay for getting cash out overseas.
BarclayCard Platinum credit card holders may find their card accepted everywhere but they will be charged a hefty 27.90% on cash withdrawals. Travelling with an HSBC Premier credit card is a better option with a low interest rate of 11.9%.
See our table below for on overview of who offers the best value.
August 2007. Researched by cheapflights.co.uk
| Credit card company | APR on purchases (In addition, transactions subject to conversion fee usually in the region of 2.75%) | ATM cash withdrawal fee | Interest rate for cash withdrawals (Often these incur a much higher rate of interest than normal transactions.) | Emergency number |
| American Express Platinum | 15.90% | 3% (min £3) | 25.90% | +44 127 3696 933 |
| Bank of Ireland Standard | 16.90% | 1.5% (min £3) | 19.16% | +353 56 775 7007 |
| Bank of Scotland One | 9.90% | 2.5% (min £3) | 22.95% | +44 845 300 0344 |
| Barclaycard Platinum | 14.90% | 2.5% (min £2.50) | 27.90% | +44 160 4230 230 |
| British Airways American Express | 15.90% | 2.5% (min £2.50) | 23.60% | +44 808 100 2255 |
| Capital One | 15.90% | 3% (min £5) | 25.90% | +44 115 993 8002 |
| First Direct Gold | 16.90% | 2.5% (min £2.50) | 21.90% | +44 113 234 5678 |
| HSBC | 15.90% | 2.5% (min £2.50) | 21.90% | +44 144 2422 929 |
| HSBC Premier | 11.90% | 2.5% (min £2.50) | 11.90% | +44 144 2422 929 |
| Lloyds TSB Platinum | 15.90% | 2.5% (min £2.50) | 24.90% | +44 1702 278 270 |
| Marks & Spencer &MORE | 17.90% | 2.5% (min £2.50) | 20.90% | +44 1244 879 080 |
| Nationwide BS Classic | 17.90% | 2% (min £2) | 21.90% | +44 126 8 567 213 |
| Nationwide BS Gold | 15.90% | 2% (min £2) | 18.90% | +44 126 8 567 213 |
| Natwest Classic | 13.90% | 2.5% (min £2.50) | 24.90% | +44 1423 700 545 |
| Saga | 16.90% | 2% (min £2) | 21.90% | +44 126 8 298 807 |
| Sainsburys Bank Advantage | 13.90% | 2.5% (min £2.50) | 19.95% | +44 131 549 8040 |
| Sainsburys Bank Platinum | 15.90% | 2.5% (min £2.50) | 19.95% | +44 131 549 8040 |
| Tesco Clubcard Credit card | 16.90% | 2% (min £2) | 22.48% | +44 845 300 4278 |