MoneyExpert Show Women Taking Advantage of Their Credit Card

22/06/2007

Nearly ten per cent of women have to sacrifice half their monthly income to pay off outstanding debts, Money Expert has revealed. It shows that 1 in every 14 women forgot about their credit cards bill. In the past 6 months a total of 1.6 million cardholders, mainly women, forgot about their bill.

If you miss a payment there is a charge which must be paid in full, looking at averages, £12, which indicates British women have been giving out £19 million on missed and late payment charges. To add to this debt, they have actually cleared most by giving away half their income.

After data analysis, women are more expected to miss their council tax, with 5 per cent admitting they have forgotten it at least once since January 2007.

MoneyExpert.com stated. “It all adds up to a worrying statistic; almost one in six women have missed an important bill in the past six months from credit cards to loans, mobile phone or even mortgage repayments.”

“Missing bills can lead to serious consequences from losing a service to being taken to court.”