The consumer champion also shared a handy Direct Debit tip to help reduce monthly interest charges
Martin Lewis issued a new warning to everyone with a bank account overdraft on the latest episode of his Money Show Live TV programme. The financial guru focused on personal finance this week, a hot topic at the start of the new year as many households try to get back on track after the festive season.
The consumer champion said: “Credit cards are horrible, debit cards are great - not true. If you’re overdrawn, your debit card is a debt card.” The founder of MoneySavingExpert.com warned: “Debit cards are danger cards if you’re overdrawn. Now, the first thing if you’re overdrawn is check your eligibility for a zero per cent overdraft and this applies even if you only dip in occasionally, this is still a priority for you.”
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