Credit card management an ‘important life skill’
Article Category: Debt Management Help and Advice
Young people should be helped to learn credit card management as an “important life skill”, according to an Apacs spokesperson.
Sandra Quinn, director of communications at the UK payments association, asserts that the skill is among the “most important” that young people can learn.
Her comments come as the industry body has published two new guides - one for young Britons and one for their parents - to educate them on the issues posed by plastic cards.
“Young people are spending ever-increasing amounts of money and it is therefore vital that they make a considered decision before choosing which product they use,” Ms Quinn comments.
“The guide for under-18s provides straightforward advice for young people thinking about getting their first plastic card.”
Figures released by Apacs to coincide with the launch of the guides show 18 to 24-year-olds make an average of 69 payments each year with their cards.
Deputy director of Credit Action Chris Tapp recently urged consumers to consider issues of credit card management when obtaining store cards as it could be “easy” to run up debts through continued usage of such a product.
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