Most cardholders do not know how much pay in interest

About 97 percent of credit card users do not know how much pay in interest. Not even know what the percentage agreed in their contracts for the various services provided to them through their plastics.

A survey by the Independent Brokerage Agency reveals that the banking users are the most popular instrument of financing careless use bordering on financial irresponsibility. Only 3% of credit card users know the annual interest paid for delayed purchases exceeds most of the cards to 20% on capital. Interest triggers, the medium-term, painful financial situations, such as it could teach a course in economics.

Not surprisingly, there was this lack, two of every three operations of refinancing or grouping of debts, is connected with debts caused by the use of credit cards. For their study, the banking agency conducted thousand interviews with users of credit. More than half (58%) reported using at least one credit card, making this the most popular instrument in access to finance.

However, only 2.8% of credit card users know the interest rate on its plastics may exceed 20% annually. 27% of card users know what interest you pay for your purchases made with cards.