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Home » Credit Card News » Trends and Analysis » Credit card and other consumer borrowing in UK 'reached £4,708 per person in November'

Credit card and other consumer borrowing in UK 'reached £4,708 per person in November'

The average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans rose to £4,708 per average UK adult in November 2009, according to new statistics.

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7 January 2010

Credit card and other consumer borrowing in UK 'reached £4,708 per person in November' ”

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The data from Credit Action showed the average household debt excluding mortgages is currently £9,016, increasing to £18,784 when unsecured loans are taken into consideration.

Average household debt including mortgages, meanwhile, is £57,888.

Credit card holders looking for a more effective way to pay off their balance may want to consider moving all their credit card debts on to a card with a 0% balance transfer fee with a good interest rate.

The Nationwide gold credit card is one card that allows holders to pay off their most expensive debt first.

It offers 0% on balance transfers for the first 13 months from the date on which the account is opened.

The typical variable rate is 16.9% APR variable.

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Credit Cards	Balance Transfers	Purchases	APR Representative (Variable)
	Tesco ClubCard Purchases Credit Card
	0^% 9 months 2.9% fee	0^% 16 months	16.9^%
Representative Example: The annual purchase rate is 16.9% p.a (variable) so if you spend £1200 your representative apr will be 16.9% p.a (variable)
	Barclaycard Platinum with BT (26 Mths)
	0^% 26 months 3.5% fee	0^% 6 months	18.9^%
Representative Example: The annual purchase rate is 18.9% p.a (variable) so if you spend £1200 your representative apr will be 18.9% p.a (variable)
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