Youngsters should compare credit cards
Young Britons are being warned to think carefully over which credit card they choose, or else risk feeling the after-effects of this Christmas throughout 2006.
Credit reference agency Experian has advised the UK's 17-to-25 year olds to shop around for credit and only make an application when they find the card that suits their needs best.
It also warned them to only borrow what they can repay, and to not be tempted to miss a couple of repayments on existing credit over the expensive Christmas period.
'Christmas is a time when many people pay less attention to their finances than normal as family and other social commitments take over,' explained Jill Stevens, director of consumer affairs at Experian.
'But overspending, forgetting to make payments to credit cards and disposing of shopping receipts carelessly can all have a damaging effect on your creditworthiness.'
Experian is also warning young credit card users not to become victims of fraud, and to provide personal information and credit card details only on secure sites displaying authentic logos of secure payment systems when shopping online.
It also warns them to take care with shopping receipts, and to always check receipts against card and bank statements for unfamiliar transactions. | 
