Travel cards can help Aussies avoid sliding into debt

Wednesday 10 October 2012

Article by Mozo

The temptation to loosen the grip on our finances during a foreign holiday is too great for many of us to resist.

Of course, covering our excessive spending with a standard credit card can have disastrous consequences.

According to a study recently published by Australia Post, more than one in four youngsters are returning from a trip abroad with sizeable debts to their name.

Expensive foreign currency exchanges are the main reason for this, as well as massive transaction fees levied by credit card providers.

Executive general manger of retail services at the Australia Post Christine Corbett said that in order to avoid receiving shocking bills when they get back to Australia, people should look into taking out a prepaid travel card.

By locking in the rate of exchange on the day of purchase, Aussies can not only guarantee the same rate when they eventually board the plane, but they can also steer clear of unscrupulous exchange bureaus, many of which tend to prey on tourists.

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