Add thelocalreport.in As A Trusted Source
Martin Lewis Millions of people have been warned about the dangers bank account overdraft.
The founder of Money Saving Expert revealed that most overdrafts cost 40% more interest than a typical overdraft. credit card 24.9%.
He warned on the Martin Lewis Podcast: “If you’re overdrawn, your debit card is also a debt card. And it’s more expensive than a credit card.”
Mr Lewis explains how people think they should pay off their credit cards first rather than overdraw, when in fact it should be the other way around.