You are here: Home - Insurance - News -

Car insurance rockets 30% thanks to fraud

Written by:

UK shoppers waste £150m a year on late credit card payments.

Research carried out by comparison website reveals that 26% of all credit card users have been charged for late payment of their bill at least once in the last 12 months.
Nearly one in 11 (8.5%) have been charged three or more times in the same period. The average charge for late payment us £12.’s research also indicates that 57% of cardholders do not have a direct debit set up to automatically pay off the minimum balance they owe each month.
 “Collectively we’re wasting millions of pounds each year on these charges, money which would be better spent elsewhere in these tough financial times,” said Alex Higgs, spokesperson for the price comparison site.
“Setting up a direct debit to make a minimum payment on a credit card is such a simple thing to do, yet well over half of credit card holders haven’t done it,” he added.
“We would encourage anyone without a direct debit set up to get one in place.
“Not only will this save money on charges and help contribute to a healthy credit profile, it will allow money that would have been spent on charges to be used to repay more than the minimum amount, saving more money as interest charges are reduced.”

Related Posts


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Brits waste £150m on credit card fees

Research carried out by comparison website reveals that 26% of all credit card users have been charged for late...