Ukash Cautions Against Credit Card Use
In a recent news item on its web site, Ukash has pointed out that the average credit card interest rates in the United Kingdom are now 18.8%. This is the highest rate since 1999. The source of this information is a report in The Times, which is based on research from Moneyfacts.
The news item at the Ukash web site goes on to say that many consumers still use credit cards to make online purchases. This includes players who fund their online casino accounts using credit cards. Since these purchases need not be backed by money balances with the players, they tend to overspend. They are unable to settle their credit card payments in time and pay exorbitant interest rates. In times of severe recession players and other consumers can ill afford to let interest eat into their incomes or savings. These players use credit cards for making deposits in the mistaken belief that alternative payment options like Ukash are not as secure. Ukash points out that its products are equally secure and since they are prepaid options players will not fall into the debt trap.
Mark Chirnside, chief executive officer Ukash, said, “At Ukash we have been working to make online shopping with cash a safe, secure and accessible option for shoppers. In fact, we are developing our product range and in the coming months we will be launching a service that allows Ukash customers to shop online using cash anywhere credit cards are accepted, which will mean they can continue to shop at their favorite outlets without running up debt.”
