Confused.com offers credit card debt consolidation tips

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Confused.com offers credit card debt consolidation tips

Credit card users have been offered advice by a representative from Confused.com.

Chris Griffiths, head of credit cards at the website, stated that £150 million is wasted by consumers in the UK every year as a result of late payment charges.

He pointed out that there are plenty of products out there that offer impressive reward schemes, but it can be a good idea to set up a direct debit that pays at least the minimum payment every month.

"Customers should remember that any interest accrued on an outstanding balance and late payment charges may lessen the value of any rewards earned," said Mr Griffiths.

In his opinion, people should consider a variety of different reward credit cards before signing up for a new one, since products offer distinct benefits.

Last month, the same Confused.com spokesperson suggested a new account from MBNA called the Platinum Plus could influence the actions of other providers, as it offers a market-leading 16 months interest-free on balance transfers.

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