Credit Card News

More than half of credit card customers pay zero interest

Tuesday, 15th April 2008

More than 50% of credit card customers pay their credit card balance in full every month, reaping the benefits of paying by credit card and avoiding paying any interest, according to Your Home Bills.com.

credit card customers are getting smarter and taking what they can get from their flexible friends, reaping such benefits as, oyster points, shopping vouchers, airmiles, cashback, donations to charity, and added security for online shopping, without incurring any interest because they pay off their entire balance each month.

The survey also found that 13 per cent of consumers ignore their credit card debt & hope that it will vanish, 7 per cent only pay off the minimum monthly amount, and 14 per cent pay off their balance with irregular lump sums as and when they come about, all of which make for an unsteady financial footing.

Seven per cent of respondents said that they look to balance transfers as a method of managing their credit card debt; this option may become more popular in the coming months, as more credit cards allow  balance transfers for free.

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