Apacs gives credit card advice

Mon, 01 Oct 2007

Apacs, the UK payments society, is offering tips to teenagers and young adults to help them choose the right debit and credit cards for their needs.

The association has launched two new guides, for youngsters and their parents, in the hope of encouraging sensible and sustainable use of debit and credit cards, which may help to reduce the number of bad debts faced by banks and cut the level of debt young people have.

Figures from Apacs indicate that 86 per cent of British adults up to the age of 24 possess either a debit card or a credit card, while those with the former make as many as 69 high street purchases each year with their plastic.

Meanwhile, fewer of this demographic use a charge or credit card - 37 per cent - which compares with an average of 66 per cent among all adults.

Sandra Quinn, director of communications at Apacs, commented: "Young people are spending ever-increasing amounts of money and it is therefore vital that they make a considered decision before choosing which product they use."

Apacs' members account for 97 per cent of all UK traffic on debit and credit cards.

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