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Over 3m Brits `use credit cards daily`

13/11/2007

Over three million Britons use their credit card every day, with many experiencing debt problems as a result, new research suggests.

A survey by Abbey found that 54 per cent of those with credit cards use them at least once a week, while 35 per cent use credit cards once a month or less.

The research found that an estimated one million credit card users cannot keep up with monthly repayments on credit cards, forcing them to seek professional debt advice. Debt problems occur mostly as a result of using credit cards to shop online, the survey`s results suggested.

Roger Lovering, managing director of Abbey Credit Cards, said: "There is no one way that people use their credit card and we see as many different spending patterns as there are people. Our job, as an innovative credit card provider, is to offer benefits on our Abbey credit card that are relevant to all the different types of credit card user."

According to figures from Credit Action, the average consumer in the UK has £4,554 worth of debts on credit cards and personal loans.

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