Credit card shoppers need to boost their awareness of fees and interest rate charges on their credit cards, according to a report and survey conducted by leading bank Citibank.
Almost half of all respondents (48 per cent) to a recent survey were ignorant of the interest rate on their credit card, according to the research by banking group Citibank.
And almost one-third (31 per cent) were unsure how many interest free days they were entitled to after making a purchase.
Citibank's card marketing chief, Madeline O'Connor, said it was important consumers took care.
"We want to encourage people to know the basics on their credit card, after all it's something that is used regularly by many of us," Ms O'Connor said.
The research also found almost one quarter of respondents (23 per cent) were unsure if the interest rate that applied to credit card purchases also applied to cash advances.
A majority also thought women were more likely than men to make impulse credit card purchases, but the items they bought were more practical.
Citibank surveyed 972 people for the study, nationwide.
Source: AAP
