Dec
15
2010
Company umbrella contractors 'should shop around for store cards'
Posted by John Crawley
Contractors with umbrella companies should be sure to shop around for the best offer if they decide to opt for store cards this Xmas.
Doing so could mean that borrowing is made cheaper, without debt mounting up, according to Joanna Parsley, the associate director of Credit Action.
The charity recently found that the total consumer credit lending figure stood at £216 billion by the end of October.
As a result, Ms Parsley believes that company umbrella contractors need to be wary of store cards which charge interest in the region of 20 to 30 per cent.
She added: "If you are considering using a store card this year, always make sure you pay the balance off in full at the end of the month."
Meanwhile, recent research by Money.co.uk has highlighted that the number of Brits set to pay for Christmas from saved cash only stands at 14 per cent.
Contractors with umbrella companies should be sure to shop around for the best offer if they decide to opt for store cards this Xmas.
Doing so could mean that borrowing is made cheaper, without debt mounting up, according to Joanna Parsley, the associate director of Credit Action.
The charity recently found that the total consumer credit lending figure stood at £216 billion by the end of October.
As a result, Ms Parsley believes that company umbrella contractors need to be wary of store cards which charge interest in the region of 20 to 30 per cent.
She added: "If you are considering using a store card this year, always make sure you pay the balance off in full at the end of the month."
Meanwhile, recent research by Money.co.uk has highlighted that the number of Brits set to pay for Christmas from saved cash only stands at 14 per cent.