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12m Brits use credit cards for essential purchases

A growing number of cardholders are using credit cards to pay for essential day-to-day living, figures released by the Post Office have revealed.

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22 January 2010

12m Brits use credit cards for essential purchases”

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A growing number of cardholders are using credit cards to pay for essential day-to-day living, figures released by the Post Office have revealed.

More than 12 million (36%) of British consumers plan to use their credit card this January on essential purchases such as grocery shopping, a rise from 30% of cardholders who were asked last year.

The research found 10% of customers are looking to spend more money through credit offers in the next 12 months, while 45% do not plan to repay their credit card debts in full at the end of each month.

Az Alibhai, head of lending at the Post Office, said the continuing trend for consumers to "rely on their cards for basic day-to-day purchases is a concern".

Credit cardholders are advised to set up direct debits rather than pay off the minimum amount of their bill each month, as this reduces the amount of interest paid.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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