Be careful if booking your holiday on credit

Holiday drinkHoliday drink.Photo: pixabay.com

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The Consumer Survey encourages Norwegians to be cautious about booking holiday trips on credit, whether it is for a local or a future trip south.

You may want to think about your own finances before booking the holiday. Not to forget what it will look like when the invoice from the credit card comes the following month, the Consumer Authority advises in a press release.

If you are not able to pay off all the debt and interest that comes in addition, the holiday trip can be far more expensive than you first thought.

On July 1 this year, debt registers were created. Banks have in advance made a credit assessment of consumers based on income, and now all unsecured debt should also be taken into account, according to the Consumer Authority.

“Please note that if you buy air travel, hotels and ice cream on credit, it will also be taken into account when applying for a mortgage,” says Elisabeth Lier Haugseth, director of the Consumer Authority.

© NTB Scanpix / #Norway Today

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