ABTA Release Credit Card Advice for Business Travellers

    MANCHESTER, ENGLAND, June 14, 2009 /24-7PressRelease/ -- ThinkingMoney.org announces that in a recession protecting your business from credit card fraud is more important than ever.

• ABTA release advice to business travellers using credit cards abroad
• APACS counts 17 million business card transactions made in 2007
• Total value of business card transactions GBP2.23 billion
• Simple steps can protect users from fraud and overcharging
• MBNA offers tailor made business credit cards for frequent travellers

According to the UK payments association APACS, there were 17 million business credit card transactions made abroad in 2007 with a total value 2.23 billion.

Small safety steps can spare users big issues
In ABTAs latest release, ABTA urge business credit card holders to maintain up-to-date contact details, including a mobile telephone number. The card company's 24-hour telephone number should be on hand at all times.

Thinking Money states the importance of awareness of any restrictions on where a card may be used overseas and where it may not, although most major credit card issuers will be usable and fully functional all over the world.

Also, business credit card users should check the card company's respective fees and charges for overseas purchases and cash withdrawals. Typical charges on business credit cards include foreign exchange rate commission fees, cash withdrawal fees (typically 2%), card purchase fees and cash advance interest fees.

Consider card's existing protection resources

Thinking Money points to Section 75 of the Consumer Credit Act, which states that credit card purchases costing between GBP100 and GBP30,000 come with extra protection if the goods are faulty or not delivered.

Card issuer facilities such as Verified By Visa, which provides a way to password-protect your Credit Card when you use it on the internet, is offered free with an MBNA business credit card. MBNA also offers full Payment Protection cover. Details of full coverage is available at http://www.mbna.co.uk/business/mbnabusiness-secure.html.

Payment in local currency advisable

Thinking Money suggests that users check exchange rates charged for local currency at the destination to calculate optimal means by which to get cash. Users will take best advantage of favourable exchange rates by paying in the local currency when using a business credit card.

MBNA leads the way in customer advice

Europe's largest credit card company offers a comprehensive list of security tips on its website. Among the various safety precautions, MBNA makes an appeal to its users to inform the card issuer of any trips abroad before departure.

Thinking Money recommends checking receipts against card statements carefully on return home and encourages the immediate reporting of any unfamiliar transactions to the card issuer.

Business credit cards customised for travellers

Thinking Money advises credit card users who travel frequently to consider tailor made card packages, such as the MBNA Business Credit Card offering rewards with bmi.

On top of competitive fee-free introductory periods, the MBNA/bmi card awards users with 20,000 destinations miles after the first purchase and one bmi destinations mile for every GBP1 spent on card purchases. It also comes with free worldwide annual travel insurance.

References:

Advice guide issued to keep consumers well-informed when using their cards overseas (June 2009), http://www.theukcardsassociation.org.uk/advice_and_links/consumer_advice/
http://www.abta.com/
http://www.thinkingmoney.org
http://www.mbna.co.uk/business/
http://www.mbna.co.uk/business/business-cards.html
http://www.mbna.co.uk/security-tips.html
http://www.apacs.org.uk/resources_publications/key_facts.html
http://www.mbna.co.uk/business/mbnabusiness-secure.html

# # #