I spoke to Tesco about credit card charges abroad and as mentioned previously they do charge 2.75% for ‘foreign exchange services’ so basically everything you buy in a foreign currency you pay 2.75% more for it.
I have been looking at foreign transactions on my statement and even if you drill down into the detail this additional charge is not obvious.
They confirmed on the phone that they adjust the exchange rate by this percentage to hide it, which to me is a little underhand.
It seems Nationwide offer a credit card that is free for foreign purchases.
A pretty definitive guide is here:
ReplyDeletehttp://www.moneysavingexpert.com/travel/cheap-travel-money
and interesting news article regarding Tesco's rip-off CC:
http://www.moneysavingexpert.com/news/cards/2011/01/tesco-moves-to-fairer-foreign-exchange-credit-card-fees
Not sure this has been implemented yet as I've just had mine in the post and this charge is still applicable.