Brits charging less on credit cards, using debit more
By UK CreditCards.com
A financial advice firm has welcomed news that Brits are using credit cards in a more sensible way.
Think Money responded to a report from UK payments association APACS, which found that credit card spending was down while the use of debit cards was up.
According to Think Money, these figures -- along with other statistics -- show that Brits are getting the message on when and how credit cards should be used.
"The shrinking usage of credit cards may be another indicator of changing attitudes amongst consumers," the firm commented.
"Used correctly, credit cards can be very helpful -- as an emergency source of cash, for example -- and some people prefer to use credit cards to make most of their purchases, as many include free purchase protection insurance."
Figures released by APACS last month showed that British consumers spent a total of £32.3bn on debit and credit cards in December.
Purchases on credit cards contributed £10.8bn to the total.
Published: 13 March 2009
- Who can I add as an authorised user? – Want to add an authorised user? Here's who you can add, how to do it and what to expect once they're on the account ...
- You regret opening your credit card - now what? – Many Britons regret opening their credit card, according to a recent survey. Here's what to do if you're one of them ...
- Choosing the right card as your family grows – Everything changes as you start a family, and that includes the way you use credit cards ...