Consumers avoid getting into debt by shoving aside the credit card according to price comparison site, Uswitch.com.

According to financemarkets.com, Apacs, the representative of leaders and credit card companies, said that £34.2 billion was spent on credit cards, being the second-highest sum in history. Research by MoneyExpert.com established that although the use of credit cards may be less popular, 3.2 million Britons hold 5 or more credit cards.

This may cause excessive problems to the near future due to high interest rates. If the difficulty in the UK economy continues, concerns on the credit ratings will be likely to act as a major problem in the approval of loans, credit cards and mortgages.

However, in the same period, £59 billion was spent on debit cards over a three month period last year which was the highest sum since 2000.
Studies by the British Retail Consortium (BRC), personal finance website Fool.co.uk, and Uswitch.com, reveal that Briton is becoming more aware of their spending habits by keeping track of what they spend.

Uswitch.com said that the use of credit cards has decreased over the last three years.

A survey by personal finance website Fool.co.uk, revealed that more consumers are using debit cards more than their credit cards. Debit card use has risen by 11% in one year as consumers are now trying to control their way of spending to keep up with personal finances.

As retail spending continues to grow, a study by the BRC established that shoppers prefer to pay for their purchases by cash rather than credit cards to control spending what they don’t have.