Martin Lewis issues plea to credit card holders or overdraft users

Martin Lewis issues plea to credit card holders or overdraft users
Get the biggest stories sent straight to your inbox”,”buttonText”:”Sign up for regular updates and breaking news from WalesOnline”,”contentId”:9966081,”newsletterImage”:”https://i2-prod.dailypost.co.uk/incoming/article18224709.ece/BINARY/2_A-sign-has-been-placed-outside-Bala-on-the-A494-after-tourists-flocked-to-the-Snowdonia-town-during.jpg”,”endpointUrl”:”https://response.pure360.com/interface/list.php”,”profile”:”Wales_Online”,”isPure360NewsLetter”:true,”pure360MailingListId”:”Wales Online – Daily Newsletter”,”newsletterSiteName”:”Wales Online”}” data-mod=”skinnySignup”>

When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. OurPrivacy Noticeexplains more about how we use your data, and your rights. You can unsubscribe at any time.

Invalid Email

Martin Lewis has issued a stark warning for anyone with a credit card or an overdraft.

The money-saving guru, who runs MoneySavingExpert.com and also has his own show on ITV – released the advice in a newsletter.

He warned that payment holidays will come to an end on October 31 – unless you have successfully applied for one before that date.

It means you only have a few days to apply for one, if you haven’t already.

If you have been financially impacted by the coronavirus pandemic you can apply for a payment holidays, which will mean you don’t need to make repayments, Birmingham Live reports.

If you apply by the end of this month, you’ll get three months almost automatically.

They are available on plenty of things, including loans, repayment plants, finance agreements with car firms and dealerships, overdrafts and – probably most commonly – credit cards.

From November 1, there will be a one-size-fits-all payment holiday shift to “tailored support”, Mr Lewis this week warned on the ITV Money Show, which broadcast on Thursday from the ITV1 studio.

He warned there are two big downsides to this, including affecting your future credit, and having interest rack up quickly.

Martin brings back the ITV show this Thursday from 8.30pm.

XL subscribe to our newsletter banner

Get the latest news and advice on COVID-19, direct from the experts in your inbox. Join hundreds of thousands who trust experts by subscribing to our newsletter.

Send your news and stories to us news@climaxradio.co.uk or newstories@climaxnewsroom.com and WhatsApp: +447747873668.

Before you go...

Democratic norms are being stress-tested all over the world, and the past few years have thrown up all kinds of questions we didn't know needed clarifying – how long is too long for a parliamentary prorogation? How far should politicians be allowed to intervene in court cases? To monitor these issues as closely as we have in the past we need your support, so please consider donating to The Climax News Room.

Leave a Reply