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Two thirds of consumers 'do not think about credit card charges'

Two thirds of consumers do not think about credit card charges when they spend on this form of finance, it has been revealed.

Research by reveals that only a third of credit card users think about the impact of their spending, while 29 per cent say they would only consider the impact when spending over £100.

Kevin Mountford, head of banking at the price comparison website, said: "When using a card it's vital customers keep track of their transactions, and not forget they are borrowing the money they are spending and it will need to be payed back.

"Using a credit card without keeping track of what they are purchasing could mean consumers end up with a nasty surprise at the end of the month."

He added that this is particularly dangerous if the consumer cannot afford to clear the balance at the end of the month through their salary.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.

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