Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £3 per month, your representative rate is 27.7% APR (variable).
Bulgaria is the holiday destination that has it all. Whether you’re into beautiful beach resorts, adrenaline-fueled ski breaks or hiking in glorious nature, this country has it covered.
What’s more, it’s been named among the cheapest European holiday destinations in several recent studies.
You can pay by credit card for most purchases in tourist destinations, with Visa and Mastercard being the most widely accepted networks. Smaller retailers – or those in smaller towns – may only accept cash. The same can be said of restaurants and guesthouses. Those that do accept credit cards may have a minimum purchase amount.
ATMs are well spread around major cities and rural tourist destinations, and it should be simple enough to withdraw Bulgarian leva from these. It could be more difficult to find ATMs in small Bulgarian villages, so stock up on cash if you’re visiting these.
It’s rare that you’ll be asked to show ID when making credit card payments (as is the case for tourists visiting some countries).
Although you should enjoy great value for money when making purchases in Bulgaria, it’s still worth being smart with your spending. Here are some of the fees to watch out for when you’re paying with plastic in Bulgaria.
It’s also worth noting that when it comes to cash advances and non-sterling transactions, many card issuers will start charging interest on the day your account is debited, rather than the customary “up to 55 days interest free” that usually applies provided you clear your balance in full each month.
Consider taking out a credit card offering commission-free currency conversion (see table below), even if you only use it when you’re out of the country. Once you have one of these cards, if a merchant offers to take payment in pounds, say you’re happy to pay in leva since you know that your own bank won’t add a margin.
Generally speaking, it’s not a great idea to use credit cards to withdraw cash, but some travel credit cards won’t penalise you for this either. Finally, make sure to check whether any ATM you use is going to charge a fee. High street bank ATMs are less likely to charge a fee compared to those in convenience stores or bars.
Visa and Mastercard are the most commonly accepted cards, although there should be no problem paying with Amex in major tourist areas. However, because Amex is less commonly accepted, you’ll be safer carrying an alternative form of payment in Bulgaria.
Contactless payment isn’t as popular in Bulgaria as it is in other parts of Europe, but it’s catching on fast. A 2018 Mastercard study suggested around two in three Bulgarian cardholders make use of contactless payment.
Card scams aren’t particularly common in Bulgaria, but there are steps you can take to be safe when using your card.
It also eliminates the possibility of hopping into an illegitimate taxi, which overcharges you. This problem is one of the common tourist scams in Bulgaria.
If you travel to Bulgaria, you can safely use your credit card to make payments and withdraw cash. You’ll just have to be careful to not incur fees you can otherwise avoid. With a decent travel credit card, you’ll avoid paying foreign transaction fees, and by simply declining the dynamic currency conversion when offered, you’ll also avoid a poor exchange rate or commission.
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