80% of Aussies lie about their credit card debt

Four out of five Australians conceal their credit card debt from their family according to a recent survey.

AMP financial planner Dianne Charman says it's important to discuss credit card debts with your partner. “Talk to your partner because it can affect other things down the track, it can affect your credit rating and whether or not you can get a loan for a home, it will save embarrassment down the track.”

The survey also found 33 per cent of people would increase their monthly repayments to tackle their debt, 32 per cent would prefer to get a loan and 22 per cent would choose to get a balance transfer.

Source: News.com.au