There has been a call for a revamp of local credit cards statements, to allow people to use them effectively.
Lead Consultant at Prestige Accounting Inc., David Simpson says in the USA monthly credit card statements give more detailed information.
He says it allows a customer to see if they only make the minimum payment, how much more they will owe in the long term.
Mr. Simpson was speaking while delivering remarks at the Barbados Council for the Disabled’s annual general meeting.
He urges Barbadians to be aware of credit ratings and credit bureaus.
Mr. Simpson says the day will come where accessing loans or items on hire purchase will be based on an individual credit score.
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