Credit card usages forecast to rise in January
More than 12 million people will spend the first month of the year using their credit card to pay for everyday essentials
Credit card usages forecast to rise in January”
Credit card usage in the UK is set to rise sharply in January, according to new research.
The Post Office has published a report which shows that over 12 million people will spend the first month of the year using their credit card to pay for everyday essentials, a rise of two per cent from the same period last year.
Furthermore, over a third (38 per cent) of Britons are increasing their credit card spending by up to £200 in January 2012, with one in ten respondents using the plastic to cover the cost of domestic bills.
"Whilst it is good to see so many people intending to manage their credit card purchases and repayments sensibly, there are still too many people who aren't thinking of the consequences," said Az Alibhal from the Post Office.
"People with debts spread across different cards may benefit from consolidating their debts on to one card to make them easier to manage and to further reduce the amount of interest being paid."
Britons could consider transferring their debt to a 0 per cent balance transfer credit card, such as the Barclaycard Platinum Card.
Posted by Jack Ramsey
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