If you use your credit card overseas, you know what it feels like to be taken to the cleaners. Many tack on as much as 3% on every transaction. Others have a fixed fee every time you use the card overseas or hit the ATM. If you spend $5,000 while you’re on vacation, these credit card costs could rack up several hundred dollars in extra costs. Mon Dieu!
“Dubious and complex” charges for overseas cash withdrawals mean that consumers are losing out, with the charging structures applied to cards often “layered on top of one another”.
The accusations come from Consumer Focus, which has taken up the cause and issued a super-complaint to the Office of Fair Trading (OFT) regarding the amount consumers pay for holiday money.
Whether you?re celebrating spring break as an actual student, or you?re young in spirit, we can suggest six of the best credit card cards to help keep you from losing your shirt. At least, a shirt you don?t want to lose... Best credit card for spreading out spring break travel costs If you?ve already splurged ...
The rise of electronic payments has revolutionized the way people spend money. But with debit cards and mobile payment systems gaining in popularity, it's easy to forgot the many benefits that old-fashioned credit cards have over newer payment methods.
OTTAWA — The federal Opposition on Monday called on the Harper government to stop credit card companies from charging businesses higher fees for using premium cards.
The call came as a federal competition tribunal prepared to rule on whether Visa and MasterCard are engaging in anti-competitive behaviour.
Small business groups hope the tribunal will recommend that Ottawa forbid the major credit card companies from forcing retailers to accept cards that carry higher payment processing fees.
I have written about the importance of protecting yourself against the companies that provide you financial services. There are few (if any) industries that as systemically try to trick and deceive customers out of large amounts of money as the financial services sector does. In addition to watching them, you it also makes sense to watch your credit card charges.