Minimum amount warning issued by CCCS

DON'T WAIT FOR THE ENERGY PRICE CAP TO SAVE YOU!

 
Standard energy rates will be capped from January 2019, but switching with us could save you as much as £482* on your annual energy bills.

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jan 2018 and 30 Jun 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £482 or more.

UK consumers are likely to get into debt if they only pay back the minimum amount on their credit cards every month, a leading UK charity has said.

The Consumer Credit Counselling Service (CCCS) says that, despite greater transparency in rates coming as a result of the new Consumer Credit Act, credit card users should make sure that they use their cards responsibly and avoid paying only the minimum payment each month.

"The main thing about people who have either store cards or credit cards is not just to pay the minimum amount back every month," CCCS spokeswoman Frances Walker commented.

"They must pay more than that back. So it's better for you … to clear the balances before you go on using the card," she continued.

She went on to say that the average consumer, borrowing £2,000 and paying just the minimum of that total back every month, would take 20 years to clear their debt.

"Some people like the deals you get with store cards, where you even get sales previews and things like that. It's really just about sensible use of cards," she added.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.


Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more