Is Your Credit Card Debt a ‘Secret’?

Do you have secret credit card debt which your partner or spouse is unaware of? According to research by Halifax you are not alone, as Brits are hiding an estimated 217,000 credit cards.

The main reason for this credit card debt secret is to purchase an item that you don’t want your other half to know about or to remain secretive about your true amount of credit card debt. Others claim that these secret credit cards are held for emergencies only.

Adrian Bryant, head of marketing for Halifax Credit Cards, comments: “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. 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.”