Credit card users 'could benefit' from direct debt repayments

Consumers could manage their credit card debt in an effective manner by making their repayments by direct debit, it has been suggested.

This might help people to fulfil their minimum repayments each month, according to Moneymagpie.com's Jasmine Birtles.

Ms Birtles also feels that consumers might be able to keep a closer eye on their finances and bills by making use of things like computer reminders and spreadsheets.

She added: "Personally, I'm a fan of direct debits and standing orders, in other words automating payments as much as possible."

Meanwhile, the expert went on to note just how important she feels it is for children to learn about budgeting from their parents, along with financial products such as credit cards.

Figures published earlier this month by the Callcredit Information Group suggested that a number of consumers have recently had to reduce their credit card repayments, with minimum repayments now an option for many.

Posted by Tom Burroughs.