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Consumer credit card habits 'must improve'
David Rodgers, managing director of Debt Advice Foundation, said that consumers who currently "hop" between different zero per cent credit cards will be caught out.
He was commenting after PricewaterhouseCoopers reported that at the lower end of the market, marginal customers may soon be expected to pay for even a standard credit card.
Mr Rodgers explained that they will suddenly be faced with interest payments increasing the amount of their debt, month by month.
He said the habit of credit card debt denial must be one that changes within the next year as consumers face up to their financial problems.
"For people who are already struggling to repay their debts, we recommend they seek expert advice and understand the options available to them," Mr Rodgers added.
Moneyextra.com recommends you take independent financial advice before acting on any article
Back2009-11-12 11:29:45 © Moneyextra.com
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