It's not an uncommon occurrence for one to pay for an item on their credit card – for large purchases like a new TV or hi-fi system, it's probably the method of payment that most sellers prefer. Along with the rise of the internet, with many websites only accepting credit cards as a form of payment, they have become an integral part of many Britons' lifestyles. New research by market analyst Datamonitor has cast light on just how far in love Britain is with the cards: people living in the UK are twice as likely to own a card than in any country in Western Europe.

The survey has held up long-maintained beliefs that Britain is a country in love with credit. Second-place Norway had just 0.7 cards average per person – Britain had a massive 1.4. In contrast to this, the other end of the scale has Germany having only 1 in 16 cards using the credit system, whilst the Swedes, the Danes and the French have 1 in 10.

The figures make for disturbing reading. Is it a different attitude towards debt in the UK that keeps Britons borrowing, or is it the more prevalent availability of enticing credit card offers, like the commonplace 0% balance transfers? Probably a combination of the two, thinks the author of the report Andrew Fabricius: "The high penetration of credit cards in the UK is due to consumers being happy to pay for goods and services by using credit and enjoy the flexibility of paying for purchases over a longer period of time."

By contrast, consumers in Germany were much more careful about going into debt and thus didn't felt that the money must be earned before the purchase is made, not the other way round. The UK even has the most amount of payment cards – including debit cards – in their wallets, an average of 2.8. Compare this to second place Norway, with 2.3, and France which has just one. This statistic is particularly daunting for the people with fiscal control over Britain – are we just a nation in love with spending?

The consequences for would-be identity thieves with such a large amount of potential material on their hands are also a factor. Gangs – often technologically advanced and highly astute – target the UK in particular because they realise the high bounty that can be reaped in the card-heavy country. Only recently, one group of criminal installed a camera above a cash point, thus obtaining the PIN number for a number of credit cards. Money was taken from the account without the cardholder knowing – a nightmare scenario for anyone.

With the global credit crunch looming, a number of providers are withdrawing their credit card offers, and some customers – notably Egg - who've been loyal and capable users of credit cards have suddenly found their plastic withdrawn. Though this might seem a rash step for the banks to take, it might be just what Britain needs to knock us out of this credit-induced stupor and get back to the real world.