Saga Platinum card charges no foreign currency fees
The over 50s spent around £4bn with their credit cards abroad last year. With the typical overseas transaction fee at 2.75% that means that over £100m could now be saved by the over 50s by switching to a card offering no overseas transaction fees.
All Saga Platinum credit card customers benefit from 0% foreign currency fees when using their card across the globe. This is the most recent enhancement to the best buy Saga Platinum credit card, which bucked the industry trend for increasing standard APR rates by reducing its rate from Typical 15.9% APR (variable) on purchases to Typical 11.9% APR (variable) on purchases in April 2009. The card also offers customers 0% on purchases made in the first 9 months -more competitive than Santander and the Post Office - and 0% on balance transfers for 9 monthsas well.
Using a 0% foreign currency fee on transactions can make a huge difference to people's wallets. For example, a spend of US$2000 would cost nothing in terms of foreign exchange fees using a Saga Platinum credit card, but would set you back US$55 if you used a Barclaycard. That would pay for trips to the Statue of Liberty and the Empire State Building, as well as four hotdogs!
The Saga Platinum credit card offers:
0% foreign currency fees on transactions across the globe
0% on purchases made in the first 9 months, Typical 11.9% APR (variable) thereafter (reduced from Typical 15.9% APR (variable) in April 2009)
0% on Balance Transfers for the first 9 months
Interest free cash withdrawals - up to 55 days
Manage your account online
Internet fraud guarantee
A positive hierarchy of payments - Saga allows customers to pay off the most expensive debt first
Andrew Goodsell, Executive Chairman, Saga Group, commented: "For too long credit card companies have been fleecing their customers who travel overseas. We want our customers to enjoy themselves on holiday, without having to worry about any extra costs that they might incur when using their credit card abroad. Packing a zero charging credit card should be a must for anyone holidaying in 2010."