68% of Irish credit card holders don't understand their interest charges

The latest research carried out by iReach Insights and funded by the Irish League of Credit Unions has found that the majority of Irish credit card holders do not fully understand the interest charges on their credit card bill. A startling 68% of consumers have admitted that the charges are confusing, with many also claiming that rates are not fully explained by the card issuer.

 

Concerns

 

Paul Bailey, the Irish League of Credit Unions Head of Communications, has expressed his concern about the lack of transparency on this topic. This is where credit unions set themselves apart from other financial institutions. At Member First, we pride ourselves on the 3P’s of Member Service – Positive Experience, Professional Service and Personal Touch.

 

If you’re struggling to understand the interest charges on your credit card, we can help. Transferring your payments to an MFCU Personal Loan is a great option. By doing so you could not only save money on your repayments, you’ll be supporting your local community, too! How’s that for a feather in your cap?

 

Open up our Loan Calculator where you’ll find a simple breakdown of the repayments. Compare these with the interest rates charged on your credit card and the benefits will become clear.

 

We’re always happy to help current members and potential new members. If you need financial advice, our qualified staff are on hand. Give us a call on (01) 851 3400, email us at info@mfcu.ie or call into your local North Dublin branch.


This research was originally published on the independent.ie. You can find the original article here.

 

Member First Credit Union Ltd. is regulated by the Central Bank of Ireland.

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