'Unnecessary purchases' lead to credit card debt
'Unnecessary purchases' lead to credit card debt
Tuesday 10th February 2009
According to the Consumer Credit Counselling Service (CCCS), frequently using a credit card for "unnecessary purchases" can often lead to debt problems further down the line.
Similarly, making cash withdrawals with a credit card is also needlessly expensive and is likely to make monthly bill payments more difficult for consumers, the organisation said.
A spokesperson for CCCS commented: "Credit cards can be very convenient but customers should think very carefully before they use them, as there can often be an alternative way of paying.
"Every time you make a purchase, even a small one, unless you are using a zero per cent credit card you are going to end up paying more in the long run."
In December, AXA published a survey showing that over 3.7 million people in the UK are struggling to manage their credit card bills.
News article brought to you by Debt1 - UK debt management specialists.
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