More than half of credit card customers pay zero interest on their borrowing, it has been claimed.
A study by Fair Investment found that 60 per cent of people with credit cards reap the benefits such as air miles and cash back, but avoid paying through the nose as they clear their balance in full each month.
James Caldwell, director of the company, said: "With the encroaching credit crunch being felt by consumers through the price of credit and the bills that come through their front door, it is uplifting to see that more than half of credit card customers can still afford o clear their balance each month."
The study also found that seven per cent of consumers only pay off the minimum monthly payment each month, while 13 per cent ignore their credit card bills completely.
Earlier this week, Chris Tapp of Credit Action said that credit cards are still an "extremely popular" way of borrowing money .
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