Brits Keep Their Credit Card Spending in Secret
A recent researched performed by MoneySupermarket revealed that as many as 10% of Brits have a credits card that their husband/wife or partner does not know about.
Further 20% of the survey respondents confessed they do not share their financial information with the spouse.
The main reason for such reservedness is the fear that the partner will be annoyed with the amount of money spent. This reason was cited by 40% of survey respondents. Another reason was unveiled by Kevin Mountford, head of banking at MoneySupermarket. "As our research shows, a credit card can be an easy way to make purchases which will be kept separate from the general outgoings of your main bank account. They provide flexibility in repayment terms which allow you to purchase larger items such as gifts for a loved one or allow indulgence on something they couldn't normally afford to buy in one go, such as expensive clothes or shoes.”
Studies, published earlier this year, revealed how much money Brits spend with a credits card. Standard Life said that Brits spend 152,000 pounds over the lifetime, while Your Commitments claimed that the average amount of money Brits spend each month and year is 300 and 3800 pounds accordingly.
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