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Consumers warned to expect credit-card-use rise

1/6/2012

The Post Office has warned that people should expect a noticeable rise in credit card usage in January as people struggle in the wake of the Christmas period.

Over two million adults are forecast to spend more on their credit cards this month than in January 2011.

The Post Office Consumer Credit Report suggests that 38 per cent of people with credit cards will be increasing the spending on their plastic by up to £200 this January. Furthermore, the report suggests that more than 12 million people are likely to rely on credit to get them through this month.

Az Alibhai, head of credit cards at the Post Office, told compareandsave.com: “People with debts spread across different cards may benefit from consolidating their debts on to one card to make them easier to manage and to further reduce the amount of interest being paid.”

Categories; Current UK Economy, Credit Card Lifestyle,