Credit cards 'can be a useful budgeting tool'
www.moneynews.co.uk > Credit cards > Credit cards 'can be a useful budgeting tool'
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Credit cards 'can be a useful budgeting tool'
Wed 11th Jan 2012
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Annie Shaw, editor of CashQuestions.com, said as long as individuals have enough actual money in the bank to service their borrowing each month, then credit cards are a great way to protect purchases and to budget effectively.
Furthermore, credit card borrowing offers numerous types of added protection for buyers under the Consumer Credit Act, meaning this form of payment may suitable for a number of circumstances.
"It becomes very worrying if people are using [credit] because they actually don't have enough money and then they are not paying off that bill every month," she commented.
Research carried out by the Post Office in its recent fifth annual Consumer Credit report showed that worryingly, more than two million Brits plan to spend money on their credit cards during January to pay for day-to-day expenses.
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