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The Curse Of Multiple Credit Cards

To many of us one credit card is more than enough to help us out when we need it, but apparently more and more of the UK population have two credit cards or more. The news from the debt advice agencies is that many people with multiple credit cards are getting themselves into serious financial trouble by over spending on their plastic.

As the cost of credit shows no signs of falling, despite a number of base rate cuts of late, it is the general consumer that is bearing the brunt. Once you pass that stage where you are unable to payback your minimum payment then it is time to take a long hard look at the situation. But many people seem to be burying their head in the sand!

There have even been instances of people using money from one credit card to pay off another credit card repayment, thus getting themselves into more and more trouble. This kind of situation is very difficult to turn around without professional debt advice, something which a number of people are now seeking.

Finally it seems that the UK debt mountain has caught up with the vast majority of the population, but is this just the tip of the iceberg?

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