Friday, March 31, 2017

Fact of the Day

Credit card debt has risen to record levels, in spite of income remaining static. The average household now owes about £2,500 on cards, up 10.5 per cent in 12 months and the highest growth in 11 years.

A large number of families are using credit cards to pay for essentials, not luxuries.

Credit card companies are exploiting consumers by offering initial long periods of free interest, followed by cripplingly high rates after the bonus period.

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