Credit Cards

Credit cards are a convenient method of payment and they also provide consumers with extra protection when making large purchases. However credit cards can also be dangerous so here are some useful tips to remember when using a credit card:

Small purchases mount up very quickly - keep a record of what you spend. If you spend more than you really mean to and can't pay it all back in time, you will be charged interest.

Take great care of your card. If it is lost or stolen, report it immediately. Once you have reported it, you are not liable if the card is used by someone else.

If you don't clear your balance within an interest-free period, you will have to pay interest. This will be the interest that has accrued from day one of swapping your balance over to the card. What APR does the company charge?

Remember that if you use a credit card to pay any amount for an item (which costs between £100 - £30,000, you can hold the credit card company as well as the shop you bought it from, responsible if there are any problems.

If you have any queries about credit cards you can call Consumer Direct on 08454 04 05 06.