Use credit cards to spread the cost of expensive items
UK consumers urged to use cards to spread the cost of expensive purchases over a period of months
Use credit cards to spread the cost of expensive items”
UK consumers should use credit cards to spread the cost of expensive purchases over a long period of time, it has been claimed.
Financial expert Roland Ellison urged credit card users to take advantage of 0 per cent deals which will enable them to pay off a proportion of any high value items over a number of months.
"Let's imagine you want to buy something big, but you don't have enough cash to pay the whole price now," he wrote in the Mirror.
"If you take out a 0 per cent on purchases credit card, you'll only have to repay a small percentage of the cost each month. And you won't have to pay any interest on your debt for up to 15 months."
Mr Ellison added that consumers should ensure that they pay off their balance in full before the introductory period expires and their repayments are then subject to interest.
Around 31.2 million adults in the UK currently own a credit or charge card, according to a recent report by trade body UK Cards Association.
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