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Bank claims: Youngsters 'more likely to pay on plastic'

Young people are more willing to make bank charges with their debit card than older men and women, a study has shown.

Research from Clydesdale and Yorkshire Banks revealed that 12 per cent of 16 to 24-year-olds would be willing to use this method of payment for a transaction of under £1, but among people older than 55, the proportion who said they would was just two per cent.

Furthermore, 93 per cent of the younger demographic would cover sales of up to £5 with their bank cards, compared with just 67 per cent of older respondents.

However, this spending pattern could leave people susceptible to unsustainable loan claims, statements from a psychologist have indicated.

Dr Jane McCartney said: "People just using cards will both simultaneously underestimate how much they have spent and overestimate what they have remaining."

"The pleasure comes now, the reality of the statement comes later," she pointed out.

Jennifer Haines
Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801469459-ADNFCR

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