8% of Brits own a secret card

Tuesday, 11 October 2011 10:54

8% of Brits own a secret card

8% of Brits own a secret card

Eight per cent of Brits have a credit card or prepaid card that they keep secret from their partners, new figures have shown, which could lead to a rise in the number of people with debt management problems.

Research published by MoneySupermarket.com has found that nearly one in five of those with a credit card do not share their financial information with their partner.

Two-fifths of those who have been underhand with their information cite their partner's anticipated annoyance with their spending habits as a key reason for their behaviour.

Kevin Mountford, head of banking at the price comparison site, has highlighted the importance of choosing the right financial product.

He said: "For those who own a secret or hidden credit card, it may prove that little bit harder to monitor but they shouldn't forget this is one more thing to think about paying off at the end of the month."

Recent figures published by Clydesdale and Yorkshire Banks have shown that many families are divided over which partner holds the purse strings, with each party standing alone in the belief they are in charge.

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