If you thought that you were being wise and saving your hard earned cash by using credit cards for your holiday abroad, think again, warns the Saga Group. Between the merchants and the credit card companies, your overseas purchases could cost you as much as 5% more if you use the wrong credit card.

The culprit? All the little - and not so little - fees and charges for transaction fees, loading charges and currency exchange fees that credit card companies and banks add onto your purchases when you use their plastic abroad. Those fees will add up to nearly