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Consumers can be confused by countless credit cards
18 February 2008
Consumers have been warned by a financial assistance charity that having too many credit cards can be confusing.
The Consumer Credit Counselling Service (CCCS), which advises people in financial problems, has warned that people have to "keep on top" of credit card repayments and that taking out more credit cards can add to the confusion.
James Ketchell, spokesperson for the CCCS said that the liberalisation of the market meant that people in the UK had gotten used to taking credit out to purchase things.
He said that there were many reasons people may have credit cards.
"People might have one for work, for example, or you could have one which has got a transfer balance on it with a low interest rate, and then another one for purchases and that kind of thing," he said.
"But it can become confusing and people really have to stay on top of their credit card spending and their finances as a whole really."
