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Credit Cards -
Credit card uses increase - 13/05/2008
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The level of credit card usage across the UK, have been increasing over the space of a few months, recent reports have shown. With many consumers finding themselves reliant upon credit to keep on top of their financial commitments at what has become a very difficult time presently.
Stretched finances due to rising living costs, increased household bills and high mortgage repayments, have resulted in an increase in the number of people using their credit cards.
It is thought that some people are using their credit cards to fund their day to day costs, as well as to make payments on bills and even mortgages repayments, when finances are over-stretched.
On top of this there have been a number of rises in living costs and bills, including water, energy costs, petrol, and food, all of which is impacting on household finances, ultimately causing the inflation rate to rise to 3 per cent, the highest levels for over six years.
Consumers that do resort to using a credit card, are being advised to look into the most affordable option, such as a 0 per cent purchase credit card.
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