Borrowers warned over holding multiple credit cards
Consumers who hold multiple credit cards often experience problems monitoring their spending, a credit expert has warned. James Ketchell said that the reasons people hold more than one card are varied, with many having "one for work one which has got a transfer balance on it with a low interest rate and then another for purchases". However, the difficulty of keeping an eye on spending and repayments across several cards means that many risk becoming confused and going to debt. Mr Ketchell warned: "We've become very used to taking credit out as a means of purchasing things. But I think now people are realising that this is real money and it has to be paid back."News of Mr Ketchell's comments comes a recent from Datamonitor showed that Britons hold plastic cards than any other country in Western Europe. The average Briton currently holds 2.4 credit and debit cards, - more than twice the level of any other nation.
Share this..
Related stories
Lloyds bank continues disposal of non-core businesses
Ahead of a potential cash call in the short term, Lloyds bank has today announced the sale of its investment management division to Rathbone Bros for £35.4 million. The move was rumoured last week with the revelation that the company was in talks with Rathbone's and it now appears that the deal has been done, bringing in additional capital to the Lloyds bank business.
This particul...
European Union warns UK
The new UK government has today received a very blunt and a very distressing message from the European Union with regards to potential future bailout funding. After days of headlines regarding the £378 billion Euro zone bailout fund it now seems as though the UK government refused to sign up to the funding arrangements. As a consequence officials from France, Sweden and Brussels have today warned...
Read MoreComplaints to water companies fall
15/09/2014 Complaints to water companies have largely fallen for their sixth year in a row, according to the water bill watchdog, Consumer Council for Water (CCWater). The number of written complaints made by customers to water companies in England and Wales fell during 2013/14 by 18 per cent – more than twice the rate of decline seen the previous year. This means written complaints are no...
Read MoreWorry over Gender gap in Pension Savings
An investigation from Scottish Widows has revealed that on average women pay around £800 per year less than men into their pension pot. This has caused concern over their financial security after they retire. While 12 months ago the gap stood at £700, a new study has revealed that it is now closer to £800. In all this difference may not seem that significant, but over a long period of time t...
Read MoreAre you fully insured?
As you might expect, the recession has brought a number of criminals into play and burglaries and thefts have increased dramatically over the last two years. Even though many people are insured for the household goods and possibly garden items, it would appear that many people are underinsured as they have not reviewed their insurance policies for many years.
It is no secret that mo...