As per the website confused.com, Britons spend around £150 million on late payment credit card charges every year.
The website conducted a research and found out that 1 out of 4 credit card holders pay extra as they fail to pay for a late payment. This accounted to almost 26% of the people. The result also showed that nearly 8.5% or 1 out of 11 people was charged a minimum of 3 times in a year. The average amount each every person paid as late payment charge was £12.
The findings of the research also showed that almost 57% of the credit card holders did not have a direct credit set up. A direct credit set up enables the credit card holders to pay the minimum amount of the repayment automatically. This is highly effective and can save a lot of money and late payment charges of the credit card holder.
Experts say that in times of financial crisis people are paying high amount of money towards their late repayments. If the payments are made on time or the minimum amount required to be paid is paid by having a direct credit set up then a lot of money can be saved and used for other purposes.
Currently the entire nation is wasting £150 million on charges that can be avoided if people are alert. Even if half the people using credit cards take necessary measures, a lot of money can be saved as ultimately it is the credit card companies who are making profits.
Do you need debit card loans?, we help you to get cash loans instantly with your debit cards. For instant cash loan you need bank account and debit card, apply on-line and get response same day.
Previous Post: Immediate Cash Loans – Instant Solution for Cash related issues
The website conducted a research and found out that 1 out of 4 credit card holders pay extra as they fail to pay for a late payment. This accounted to almost 26% of the people. The result also showed that nearly 8.5% or 1 out of 11 people was charged a minimum of 3 times in a year. The average amount each every person paid as late payment charge was £12.
The findings of the research also showed that almost 57% of the credit card holders did not have a direct credit set up. A direct credit set up enables the credit card holders to pay the minimum amount of the repayment automatically. This is highly effective and can save a lot of money and late payment charges of the credit card holder.
Experts say that in times of financial crisis people are paying high amount of money towards their late repayments. If the payments are made on time or the minimum amount required to be paid is paid by having a direct credit set up then a lot of money can be saved and used for other purposes.
Currently the entire nation is wasting £150 million on charges that can be avoided if people are alert. Even if half the people using credit cards take necessary measures, a lot of money can be saved as ultimately it is the credit card companies who are making profits.
Do you need debit card loans?, we help you to get cash loans instantly with your debit cards. For instant cash loan you need bank account and debit card, apply on-line and get response same day.
Previous Post: Immediate Cash Loans – Instant Solution for Cash related issues
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