![]() There are several types of fees to keep in mind when using your credit card abroad.Īlways read your terms carefully to understand any potential credit card payment charges before using The fee amount depends on your specific card and terms. If you miss the due date for making your minimum payment, as shown on your statement, you’ll be charged a late payment fee. The charge for this is called an additional statement fee. Occasionally, though, you or another cardholder might need a statement posted to you, in addition to the one you receive under your card terms. Most credit cards let you access statements free of charge through your online account. This can happen when, for example, you try to pay off your credit card bill with a cheque that bounces, or from a bank account with insufficient funds. If you make a payment to your credit card account that isn’t honoured by your financial institution, you may be charged a returned payment fee. And it’s based on a percentage of the converted sterling amount. ![]() ![]() The fee covers the cost of converting the transaction from the foreign currency into sterling. When you use your credit card to buy something in a foreign currency, your card issuer may charge a non-sterling transaction fee. This consists of interest and unlike purchase transactions which have a grace period before interest is paid, interest starts accruing immediately. A cash advance is when you withdraw cash from your credit card account using an ATM.
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