According to a Post Office survey of 2000 UK consumers, a quarter are planning to rely more on credit card spending to get through this January, and will spend more than this time last year.
The consumers were found to use their credit cards for a wider variety of purposes also, despite tighter lending criteria. Personal debt levels in the UK are soaring, and yet consumers still plan to use credit cards for daily purchases.
Christmas overspend is thought to be particularly acute this year, with millions facing financial problems after spending too much on Christmas. Experts indicate that many rely on personal loans, overdraft and credit cards to see themselves through this month.
Consumers prop themselves up with credit cards
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Consumers prop themselves up with credit cards
Fri, 11 Jan 2008
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