The Irish League of Credit Unions revealed two thirds of people don't know their credit card interest rates.
Do not use a credit card for cash advances.
That's the warning from the CEO of Athlone Credit Union, Michael Evans, following the release of a new survey which found two thirds of people don't know their credit card interest rates.
24% believe they pay 5% or less while 1 in three believe they pay between 18-24% interest.
The survey also shows the majority of purchases made using credit cards this year will be ad-hoc monthly ones, while 12 per cent will use credit cards for holidays.
The Irish League of Credit Unions research also found 65% of respondents said they would use their income to clear the balance each month.
Mr. Evans says he wouldn't recommend that: