Have you got a secret credit card?
Posted May 14th, 2009 Recent research from Halifax bank suggests that a massive 217,000 britons have ’secret’ credit cards, their definition of a secret credit card is one that your spouse / family / dog is not aware of. The key reasons why people have secret credit cards are given as ‘emergencies’ and (more truthfully) to hide debt from their spouse.
Adrian Bryant, the head of marketing* for Halifax Credit Cards said:
“Our research shows that the majority of couples are open and honest about their finances with only a small number admitting to a secret credit card.
“It’s important that people are honest about their finances with their partner as it may affect their ability to secure products in joint names.”
The thought behind this kind of behaviour is understandable; sometimes we keep a bit of money carefully stashed in case of emergencies. The statistic, however, is shocking, from this we assume that a lot of these credit cards carry debt, and in turn, these debts aren’t being managed.
If this sounds like you, the first step to solving a problem is to admit it. Have an honest conversation with your spouse about your financial situation, and you might find out a similar secret from them. Once you have an honest and clear understanding of your financial situations. To help you out we’ve compiled some helpful tips to help you manage your credit card debt.
*It’s intriguing that their head of marketing spoke to this point, this suggests that this was survey came from a marketing requirement, rather than a financial management requirement.
People who viewed this Page also viewed these Pages
Leave a Comment
Comparison of Top 10 Credit Card Offers
| Credit Card | Card Details | Interest Rate | Cash Advance Rate | Balance Transfer Rate | Annual fee | Interest free days | ||
|---|---|---|---|---|---|---|---|---|
 Halifax All in One Credit Card |
The Halifax All in One credit card offers a great introductory rate, and is perfect for saving you money now as well as in the future. | 15.9% APR | 27.95% p.a. (variable) | 0% for 9 months | No Annual Fee | 59 Days interest free |
 |
|
 Virgin Credit Card |
As well as a great rate, the Virgin Credit Card comes with:
|
16.6% APR (variable) | 27.9% p.a. (variable) | 0% for 16 Months (2.98% fee on balance transfers) | No Annual Fee | 50 days on card purchases |
|
|
 Capital One Classic Visa |
This card is designed for people with bad credit ratings, this is why the rate is quite high. |
Typical 34.9% APR variable | 34.9% APR | 34.9% APR | No Annual Fee | 56 days for purchases. 0 days for balance transfers and cash. |
|
|
|
As well as earning Flying Club miles which you can spend on brilliant rewards like flights, upgrades, car hire and more, a Virgin Atlantic Credit Card gives you up to 46 days interest free on card purchases. |
17.9% APR typical rate | 20.9% p.a. (variable) | 0% for 6 months (2% handling fee) | No Annual Fee | Up to 46 days on card purchases only. |
|
|
|
The Virgin Prepaid MasterCard from Virgin Money is a prepaid Mastercard that you can add funds to, and use these funds for normal purchases. |
N/A | N/A | N/A | N/A | N/A |
|
|
|
5% cashback on purchases in your first three months (up to £4,000 of spend). Thereafter, earn 0.5% on the first £3,500, 1% on £3,501 to £10,000, and 1.5% after £10,001. |
18.9% p.a. | 27.9% p.a. | 18.9% p.a | No Annual Fee | 56 days for purchases. 0 days for balance transfers and cash. |
|
|
|
Vanquis Visa Card is designed for people with no credit history or who have previously had bad debt. Representative 39.9% APR (variable) |
Representative 39.9% APR (variable) | 39.9% | N/A | No Annual Fee | Up to 56 days on card purchases only |
|
|
|
The award winning prepaid card with no credit check or bank account needed. | Funds in your Account will not earn interest | Prepaid only - N/A | Prepaid only - N/A | £59.40 p.a. (£4.95/month) | Prepaid only - N/A |
|
