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Martin Lewis warned against underestimating what he called the UK’s “most dangerous form of mainstream debt”.
While many people prioritize credit card debt, money-saving experts point out that current account overdrafts (which often charge up to 40% interest) are much more costly and are a trap many people can fall into when trying to pay off their credit cards.
talking about Martin Lewis Podcast“If you’re overdrawn, your debit card is also a debt card, and it’s more expensive than a credit card,” Lewis told viewers, adding: “Think about your overdraft Just like debt – plan to pay it off. “