Santander's offer to mark rebranding of Abbey credit cards

Rumina Hassam, personal finance expert at uSwitch.com, comments on Santander's celebratory offer to mark the rebranding of Abbey credit cards: "Being charged for using your credit card abroad has long been a raincloud on the holidaymaker's horizon. So Santander's celebratory rebrand offer, whereby its credit card customers will not have to pay overseas usage fees in June and July, is a real bonus - particularly as it coincides with the peak holiday season.

"Although it is a limited two-month window and only covers part of the school summer holidays, it will be valuable for those who are able to take it up. This year alone holidaymakers will be charged a colossal £754 million in overseas charges and fees - a 6% increase on last year. £352 million of this is on credit cards alone, so this offer will put money back into consumers' pockets.

"Hikes in overseas usage fees coupled with crippling exchange rates, and the fact that Nationwide has also put the brakes on its previous policy of allowing people to use their cards abroad without charging them, has meant that holidaymakers will be feeling the pinch this year. Santander's special summer offer is a great incentive for existing customers looking to get away from the recessionary gloom, but they need to be mindful that this offer is for a limited period only.

"For new customers considering the re-branded Santander range, the Santander Zero card is market leading because you don't have to pay overseas usage fees and there is no charge for withdrawing cash while abroad, so it may suit frequent travellers. However, as with any credit card, consumers must ensure they are fully aware of all the terms and conditions so they can be confident of choosing a credit card that meets their overall needs."