More Cardholders in UK Surviving with Credit Cards

More Cardholders in UK Surviving with Credit Cards

January 21, 2013         Written By Bill Hardekopf

A new survey in the United Kingdom shows more consumers there are struggling with their finances, resulting in a further reliance on credit cards to pay for daily essentials.

The sixth annual Post Office Consumer Credit Report shows that 42 percent of adults are using their credit cards to pay for groceries. In addition, 35 percent of consumers say they are paying for everyday purchases with plastic, while 7 percent are using the cards to pay for fuel bills.

A total of 2,014 consumers took part in the survey.

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

The consumer debt in Britain–approximately 1.5 trillion pounds–is already the highest of any developed nation relative to the size of its economy.

The information contained within this article was accurate as of January 21, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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