He warned: "Debt is like fire - it's a useful tool but it can burn.He also added more advice on hisin the latest MoneySavingExpert newsletter, urging people not to borrow money unless they really need to.
And if they need to borrow, people should be able to repay the loan as soon as possible, the expert said.He wrote: "Done right, 0% credit cards offer super-cheap borrowing, as there is NO COST WHATSOEVER for up to nearly two years.", which gives people £25 cashback if they spend more than £100 in the first 90 days.which has no cashback but gives Clubcard points on spending.
However, applying for an interest-free credit card can affect your credit score so avoid making too many applications at once.