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One in three Brits rely on Credit Cards for daily buys

A recent study from the Post Office has revealed that one in three British credit card users rely on their plastic in order to pay for daily items throughout the month of January.

Out of the 12 million credit card users in the UK, 35% will use their card throughout the month in order to pay for daily essentials and other required purchases.

Spending over the Christmas period is the obvious reason for people’s lack of cash, and 40pc of those surveyed said they would be using their credit card to pay for grocery shopping this month. A further 7pc will use their credit cards to cover the cost of commuting by car and 8pc will be using it to repay Christmas debts.

Head of credit cards at Post Office, John Wilcock, said: “While many people intend to manage their credit card purchases and repayments sensibly, there are still many people who are not thinking of the consequences of their festive spending”

The total consumer debt in Britain currently stands at £1.5 trillion, making it the highest of any developed nation in reference to the size of the economy.

If you are in debt and want any advice on your best repayment options, or for any other query about your credit card or loans, please contact our advisors via the question box above

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