Overseas prepaid credit card usage championed
19 February 2010 17:03:58
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| Prepaid cards have advantages over traditional credit cards. |
According to Caxton FX, one of the best ways to save money while on holiday is to use a prepaid credit card.
This is because, unlike many traditional credit card customers, prepaid card users do not have to worry about the levying of foreign exchange fees.
Furthermore, by loading foreign currency onto a prepaid card before departure, holidaymakers can relax without having to consider exchange rate fluctuations.
"With the current weakness in the pound there has never been a better time to be smarter about your foreign currency and make your pounds stretch further," commented Caxton FX managing director James Hickman.
Another advantage of prepaid credit cards is that they help with budgeting, as set limits can be decided before departure.
Research conducted by Santander in January found Britons are most likely to use cash as a payment method when abroad, with credit cards the next most popular option.
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