Credit cards – an ‘easy option’ perhaps, but what are the consequences?

Financial capability charity Credit Action has warned consumers not to get caught in the ‘credit card trap’ over the festive season and going into the new year.

With 27.7 million plastic card purchase transactions made daily in the UK, at a total monetary value of £1.362 billion*, Credit Action is urging shoppers to be mindful of how they use their cards and keep track of what they spend.

Michelle Highman, CEO of Credit Action says: “It’s a lot easier to lose track of spending when it’s done on any sort of card. But credit cards in particular can encourage us to think that we’re not spending real money. Even the most money conscious of us splash out during the Christmas season and it’s easy to say ‘I’ll worry about it later’, but this approach has consequences, especially when using credit to finance Christmas. Credit isn’t free money and you will need to pay it back later. Worse still, if it isn’t possible to pay off your credit card when you get the bill, the true cost of Christmas will continue to go up and up each month that you’re paying it down.”

If you are struggling with credit card debt (or any other debt), contact our friendly Turn Debt Around team for an impartial, no strings chat, to see if we can help you get on top of your finances.

Call us now on 0131 777 3039, or visit our website:

*Article and statistics source:



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