Credit card users 'keeping secrets'

By UK CreditCards.com

Secret credit cardsThere are around 217,000 credit cards in the UK that are being kept hidden from their holders' partners, new research reveals.

A study by Halifax found that Britons are using 'secret' credit cards for a number of reasons. Some keep one for emergencies, while others are more devious, using the credit cards to hide debts or make purchases without their partners knowing.

However, only 1% of cardholders with a partner have a secret card -- meaning the vast majority of people are honest about their outgoings.

"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," said Adrian Bryant, head of credit card marketing for Halifax.

Mr Bryant warned those who do keep a card secret that the truth could be revealed if they need to disclose debt when applying for a loan or product in joint names.

"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," he added.
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Published: 11 May 2009