Consumers should be ‘more responsible with credit cards’
UK payments association Apacs has urged consumers to be more responsible in their use of credit cards.
Spokesperson Mark Bowerman said that advice for consumers on card spending is readily available.
This includes new summary boxes on card statements, allowing consumers to make informed spending decisions.
Mr Bowerman said that while credit card information is “invaluable . . . it’s about the consumer being more responsible and actually taking the time to step back and make sure that they’re using their product in the way that it is designed and that they have a product that best suits the way that they use their card”.
He added that “there’s an awful lot of variety” presently and that consumers should shop around rather than signing up to the first card they are presented with if they want the best deals.
Mr Bowerman’s comments follow research from Credit Experian, which suggested that nine per cent of cardholders have taken out another credit card to repay debts.
Consumers with outstanding repayments to several creditors may wish to take out a debt consolidation loan to help sort their finances.
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