UK payments association Apacs has urged credit card customers to check their statements carefully, as many people are currently guilty of not doing so.
According to research by the group, nearly half of all credit card users do not check their product statements thoroughly.
A surprising four per cent of respondents to the survey said that they never look at their credit card statements.
To help people make sense of communications from their provider, Apacs has created an advice guide explaining everything about the features and terms included in statements and giving hints on how to understand various details and terminology.
Sandra Quinn, director of communications at Apacs, said: “Although people are getting better at checking their statements, our research suggests that there is still a lot of work to be done.
“Armed with this advice guide we believe consumers will be better equipped to get the most from their credit card statement.”
The association’s study reveals that Yorkshire and Humberside is the worst region for ignoring credit card updates, with nine per cent of people admitting to never checking their statements.
Related Posts
Financial habits are written in the starsThe time of year in which you were born may be affecting your payment habits and banking behaviour.Research carried out by the UK payments association (Apacs) takes a light-hearted look at UK consumers' payment habits
Avoid being the victim of credit card fraudWhen it comes to credit cards consumers can look forward to a wide range of benefits, ranging from interest free credit and total convenience to flexible repayments and even a choice of rewards with some
Shop around for credit card bargains, customers urgedCredit card customers should be prepared to shop around for the best card deals this month, just as they would for anything else in the January sales. According to Sainsbury's Bank, credit card users need
Credit card thieves ‘give to charity’Charitable donations are commonplace on stolen credit cards, the information security company Symantec said last week.It's quite unlikely that card thieves are suffering pangs of conscience, though - small online charitable donations are an excellent
Credit card cloning warningCredit card holders are being told to increase their vigilance and be on alert after a spate of card cloning incidents.Police in Cheshire have sent a warning out to all card holders in the area
Fraud warning not being heededMillions of credit card holders in the UK are leaving themselves open to fraud.Despite continual warnings about the dangers of identity theft, many people are not heeding the advice, says Morgan Stanley Consumer Banking.The most
TK hacked to the maxMillions of customers who shop at TK Maxx may potentially have been the victim of credit card fraud.The store's owner, US firm TJX, has revealed that a total of 45.7 million customers' bank details have
Christmas credit card shoppers urged ’spend sensibly’Shoppers using their credit cards to fund purchases over the festive season are advised to be cautious.Samantha Owens, head of personal finance at Moneyfacts said that consumers should consider taking out a nought per cent
