UK consumers have most credit cards

Thu, 14 Feb 2008

According to a recent report, people in the UK are more than twice as likely as people in other countries in Western Europe to have a credit card .

The Datamonitor report found that people in the UK on average had 1.4 credit cards at the end of 2006. Norway, where people had 0.7 cards per person, was second. Much lower results were reported for countries like Sweden, Denmark, France and particularly Germany .

Datamonitor pointed to a widespread and different underlying approach in the way in which people in the UK approach credit cards . Consumers in the UK were thought to have a more relaxed attitude towards debt .

The author of the report, Andrew Fabricius, reportedly commented: "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."
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