One of the UK’s leading debt charities has recently revealed that many thousands of UK citizens are jeopardising their financial health through the insensible use of credit cards.

Accordingly, almost 40% of people are using credit cards as their primary means to withdraw money from bank cash points. It is suggested that very few consumers are actually aware of the risks they run by using their cards this way, with regards to managing the debt at a later stage.

Credit card cash withdrawals are undoubtedly one of the most expensive ways to borrow, however, the charity responsible for the survey has indicated that very few people appear to be aware of this fact and as to how they will be charged for the transaction.

A spokesperson for the charity stated that more needed to be done with regards to increasing consumer understanding in relation to their credit facilities. In a sizeable number of cases, consumers who do run into credit difficulties admit that a lack of understanding on their behalf and in some cases sheer ignorance with regards to how certain credit is charged and interest calculated, was the primary cause for them to seek professional debt help.

It is important for consumers to be aware that certain credit facilities, used in certain ways, can be extremely costly and affordability should always be considered before any type of commitment is made.