Consumers are having their credit card accounts closed due to a lack of repayments.
Consumers in the UK who do not keep up with required payments on their credit cards or personal loans may see the accounts shut down, new research suggests.
Conducted by Confused.com, the report showed how credit card issuers cited a failure to make repayments as the reason for the closure of more than one-in-five accounts across the country.
However, people in Yorkshire may be having more trouble than most in meeting bill deadlines for plastic products, seeing 13 per cent more cases of credit card companies closing accounts when balances are not settled.
Credit card issuers in the north-east and East Anglia on the other hand are finding that only eight per cent of accounts are having to be closed due to repayment failures, according to the research.
Joanne Garcia, head of credit cards at Confused.com, said: "Credit card users in all regions need to understand how damaging it can be to miss repayments. While it may not seem like a big deal to miss a few payments here and there, credit providers … leave no stone unturned when it comes to checking a person's credit worthiness.
"If they see a history of non-payments it makes it much more difficult to borrow money."
Financial advice website moneysupermarket.com recently found that nearly one-third of plastic users plan to delay making repayments for the next six months, risking having to shell out for the increased credit card charges.
This is despite the news that major credit card issuers such as
Consumers in the UK who do not keep up with required payments on their credit cards or personal loans may see the accounts shut down, new research suggests.
Conducted by Confused.com, the report showed how credit card issuers cited a failure to make repayments as the reason for the closure of more than one-in-five accounts across the country.
However, people in Yorkshire may be having more trouble than most in meeting bill deadlines for plastic products, seeing 13 per cent more cases of credit card companies closing accounts when balances are not settled.
Credit card issuers in the north-east and East Anglia on the other hand are finding that only eight per cent of accounts are having to be closed due to repayment failures, according to the research.
Joanne Garcia, head of credit cards at Confused.com, said: "Credit card users in all regions need to understand how damaging it can be to miss repayments. While it may not seem like a big deal to miss a few payments here and there, credit providers … leave no stone unturned when it comes to checking a person's credit worthiness.
"If they see a history of non-payments it makes it much more difficult to borrow money."
Financial advice website moneysupermarket.com recently found that nearly one-third of plastic users plan to delay making repayments for the next six months, risking having to shell out for the increased credit card charges.
This is despite the news that major credit card issuers such as
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