Financial Services > Credit Cards > Credit Cards News

Consumers using credit cards to cover mortgages

Tue, 16 Sep 2008

A top UK debt management service have today claimed that a growing level of consumers are being forced into using credit cards to cover their mortgage payments and utility bills .

A study conducted by Payplan indicates that around 50 per cent of the 8,000 plus people surveyed said that they had had to resort to a credit card in order to pay their mortgage debt or a utility bill .

The increased cost of living is down to rampant inflation, which has not hit 4.7 per cent. With energy prices up 27.7 per cent, utility bills alone are a massive drain on household income.

With lenders becoming more cautious about credit cards, homeowner may soon find their lines of credit cut off.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Choose a credit card

Choose the perfect card

Choose the right credit card for you and apply with confidence.

Choose a credit card