Uswitch has warned credit card consumers who pay for their holidays using credit cards that they could end up being charged for the trip until 2030.

The company says that customers are more likely to pay double the cost of their holiday should they opt for credit cards minimum repayment method.

Uswitch paying for a trip to Beijing for six nights which would be charged on average £739 if paying in full however consumers who choose to pay using the credit cards minimum repayment method would attract an interest totalling £1,324, almost twice the cost of holiday.

Additionally, such a payment would also take an estimated 22 months to offset the debt and this is something consumers should not consider given the on going global credit crunch, says Uswitch.

According to Uswitch, 40% of all credit cards only require a minimum monthly repayment of around £5 which is just 2%. Statistics released show that should credit card consumers decide to make the average 25-year mortgage repayment using this method, the mortgage debt would be cleared in 2033 while the average credit card balance of £1,384 will be repaid in 2039. Other figures from the consumer website’s repayment index suggests that in the past one year, average repayment required has dropped from 2.65% to 2.54%, a fall of 0.11%.