Getting into credit card debt 'all too easy'
Getting into credit card debt 'all too easy'
Friday 13th February 2009
According to the Thrifty Scot, UK people have become "more and more reliant" on credit cards in recent years, with many shoppers using them for small purchases and everyday items.
However, the personal finance website urged consumers to exercise self-discipline when using their credit cards, as spending carelessly and only paying back monthly minimum amounts can quickly lead to financial trouble.
The website explains: "Avoid missing repayments or making late repayments on your credit card bill, as this will result in you being charged various fees and charges that could really cost you in the long run.
"Try to repay more than the minimum amount required, as otherwise you could find that your credit cards end up costing you a fortune to use."
In December, AXA published a report claiming that over 3.7 million people in the UK are struggling to cope with their credit card bills.
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