Latest Debt News
New card for debt detox
04/01/2006 14:07:00
American Express (Amex) has unveiled new 'detox' credit card rates designed to help consumers deal with their finances at the start of a new year.
The Amex Clear Blue credit card offers a 6.9 per cent variable annual percentage rate on purchases, with a 6.9 per cent balance transfer rate for the life of the balance.
Vice president and head of UK product management at Amex, Katherine Whitton, commented: "The new year offers many who have overindulged through the festive period the opportunity to spring into action and detox their finances.
"As consumers look to detox their finances in 2006, they should consider the American Express Blue credit card."
But relying on credit cards in the first place can lead to disastrous debt problems.
Accountancy company Grant Thornton believes that if Brits keep spending the way they have been in recent years, debt levels will hit a 45-year high.
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