Package holiday peril?
14 July 2008
Many Brits are avoiding package holidays in a bit to cut costs this vacation season, according to new figures from uSwitch.com.
A study by the price comparison site suggests that up to 20 million consumers could be taking this course of action during the warmer months of 2008.
In news that may be of interest to people planning to compare popular credit cards, the firm notes that payment method is an important factor to take into consideration when planning a break.
The company suggests that consumers could spend a total of £859 million on top of the original cost of their vacation in interest payments - and also lose out on reward points - by not using the best credit cards possible.
Simeon Linstead of personal finance at uSwitch.com states that 2008 has already been a rocky year for customers.
"Choosing the wrong credit card to pay for a holiday could be a costly mistake. It is possible for people to reduce the amount they will pay in fees, or avoid paying them altogether, if they take a little time to research the credit card market," he adds.
Meanwhile, American Express recently advised consumers to take travellers cheques with them on holiday.
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