Brits 'using credit cards daily'
Brits 'using credit cards daily'
Monday 15th December 2008
The findings from Sainsbury's Bank state that approximately 7.55 million people in the UK are "everyday credit card users", employing their cards in the same way as others use cash or debit cards.
According to the survey, these consumers spend an average of £483 on their cards each month.
"We've identified a number of people who clearly like to use their credit card in the same way as they would cash or debit cards," commented Donald MacLeod, Head of Cards at Sainsbury's.
The survey found that older people are more likely to use their cards for regular, inexpensive purchases, possibly because they are more confident of being able to pay off the balance each month.
Only seven per cent of "everyday users" were found to be in the 18 to 24 age group.
Business secretary Lord Mandelson recently met with members of the credit card industry to discuss ways of easing conditions for struggling borrowers.
News article brought to you by Debt1 - UK debt management specialists.
Related News
Struggling consumers 'should consider supermarket options' - 15/12/08
With the economic crisis having an ever-worsening impact on the man-on-the-street's finances, consumer group Which? has advised shoppers to choose their supermarket carefully as it could help them to save money
With the economic crisis having an ever-worsening impact on the man-on-the-street's finances, consumer group Which? has advised shoppers to choose their supermarket carefully as it could help them to save money
Saving becomes harder in credit crunch Britain - 15/12/08
Worsening economic conditions mean fewer people will be in a position to save next year, suggesting they will be more concerned with debt management than setting aside money for the proverbial rainy day or retirement
Worsening economic conditions mean fewer people will be in a position to save next year, suggesting they will be more concerned with debt management than setting aside money for the proverbial rainy day or retirement
Christmas items 'falling in price' - 11/12/08
People who are worried about slipping into debt this Christmas may be encouraged by claims that many festive items will be cheaper this year
People who are worried about slipping into debt this Christmas may be encouraged by claims that many festive items will be cheaper this year
Pay-day loans over Christmas could see many fall into debt - 10/12/08
With Christmas being perhaps the most expensive time of the year it is unsurprising that some may fall into debt over the festive period
With Christmas being perhaps the most expensive time of the year it is unsurprising that some may fall into debt over the festive period
Christmas debt 'could have psychological effects' - 10/12/08
Overspending at Christmas is likely to result in psychological problems for consumers, as well as creating a financial burden
Overspending at Christmas is likely to result in psychological problems for consumers, as well as creating a financial burden
News Article Search
Quick Apply
News Archive