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Secret credit cards blight consumers’ conscience

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by David Masters

Over 200,000 consumers in the UK have a guilty secret: a stashed away credit card they keep hidden from their partner.

Research by Halifax found that there are around 217,000 secret credit cards in the UK.

Although most of the secret cards are kept for emergencies, or to hide personal purchases from a partner, some are being used to purchase items costing up to £500.

A significant proportion of secret card holders said they use the card to hide debt from their partner.

However, despite the guilty secrets of some, 99% of credit card holders with a partner were found to be honest.

Adrian Bryant, Halifax Credit Cards head of marketing, said: “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.

“It’s important that people are honest about their finances with their partner as it may affect their ability to secure products in joint names.”

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News posted: May 6, 2009

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