Abbey: School holiday premiums soar by 40%

Monday, 18, May 2009 11:43

Families are paying premiums of up to 40 per cent on holidays during the summer break, new research by Abbey credit cards has revealed.

During August, the average foreign package deal for a family will cost an average of 25 per cent more than it would in mid-July, the new survey has found.

And UK resorts are charging an average of 39 per cent more for breaks booked during the school holidays.

But it is families travelling to Portugal on a package deal who will be hit hardest. Abbey found holidays to the country in August were being inflated by as much as 40 per cent.

The bank said people can help ease financial pressure these trips were creating by saving money elsewhere.

The Abbey zero per cent credit card, it said, offered fee-free foreign usage on spending abroad plus and did not charge a cash advance fee.

Callum Gibson, head of credit cards at Abbey, said: "While school holiday premiums may be inevitable, Britons heading abroad this summer can save money by cutting out unnecessary costs such as foreign exchange fees, which are charged by most providers for card transactions made in foreign currency."