Friday August 14, 2020

Value Watch

Credit cards still being used as financial crutches

13th March, 2010

Many consumers appear still to be relying on credit cards to help bridge difficult financial times. According to a poll by the Financial Regulator, almost one-third of us have credit card debt of between €300 and €3,000, while a further one-fifth had debts above €3,000.

Given the high level of interest attached to credit cards, servicing such a debt can add substantially to monthly outgoings, and the regulator has now issued guidelines for consumers who...

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