Secret credit cards number 200,000+ - Credit cards - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Secret credit cards number 200,000+

Secret credit cards number 200,000+

Category: Credit cards

Updated: 06/05/2009
First Published: 06/05/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
New figures have revealed the number of secret credit cards used by Britons has climbed to over 200,000.

Consumers hide an estimated 217,000 credit cards from their partners.

The most common reasons for doing so are because we don't want our other halves to know about some of the items we buy, to hide existing debt or in case of emergencies, according to Halifax.

Holidays and electrical goods were cited as some of the more common purchases on secret funds.

However, before you start accusing your partner of foul financial play or rifling through their pockets in a bid to uncover clandestine credit, it's worth noting the figures represent just one per cent of cardholders in a relationship.

"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," said Adrian Bryant.

"It is important that people are honest about their finances with their partner as it may affect their ability to secure products in joint names."

Almost half of the UK's population has a credit card, with 30.2 million in use, on which £126.2 billion was spent last year.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
 
Close