A credit card can seem like a great way to spend when you haven’t got the available cash - but if you don’t pay the balance off every month, the rates of interest these cards likely carry could plunge you into debt. Only paying the minimum amount each month will most probably end up costing you more and it will take longer to clear your balance.

Credit cards are a safe, secure way to spend and you are protected for every purchase you make over £100. Many credit cards will offer an introductory offer of low or 0 per cent interest rates for a period of time so be sure to shop around for these offers if you’re thinking about taking out a credit card. But always be aware when the introductory rate ends as rates usually rocket once this period is over.

In addition, late payments will most likely be subject to a late payment charge, and you could be faced with this being recorded on your credit record, which could affect your credit rating and future credit applications

An approved money adviser can help you decide if a credit card is right for you.