The Money Saving Expert warned that 'debit cards are now danger cards' if you're overdrawn
Money Saving Expert Martin Lewis has issued a warning to anybody in the UK who uses a debit card. According to Martin, who founded the Money Saving Expert website, 'debit cards are now danger cards'.
According to Martin Lewis, this simply isn't true. And he's warned people to think carefully before getting their debit card out.According to YorkshireLive, Martin explained that the average bank loan is under 8% APR ; and the average credit card rate is 19% APR. Martin said: "'Credit cards are horrible. Debit cards are great'. Not true.
"Now the first thing if you're overdrawn is to check your eligibility for a -% overdraft and to what amount. People also ask me, can I shift my overdraft onto a 0% card? The answer is yes, but only a few specialist cards, it's called a money transfer.
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