3 million Brits 'using credit on a daily basis'
Around three millions Britons use their credit cards on a daily basis, according to the latest research from Abbey.
The investigation from Abbey revealed that some 34 million Brits have at least one credit card, with more than half (18 million) admitting to using their plastic at least once a week to pay for goods or services.
"There is no one way that people use their credit card and we see as many different spending patterns as there are people," Roger Lovering, managing director of Abbey Credit Cards.
Abbey's research revealed that more than half (57 per cent) pay off their credit card balance each month, something that should enable them to avoid the need for help with money.
However, three per cent said they rarely paid off their credit card balance, something that could lead to them needing help with debt later on in life.
Earlier this month, research from Money Expert showed that credit card application rejections have increased by 17 per cent in the last six months.
The investigation from Abbey revealed that some 34 million Brits have at least one credit card, with more than half (18 million) admitting to using their plastic at least once a week to pay for goods or services.
"There is no one way that people use their credit card and we see as many different spending patterns as there are people," Roger Lovering, managing director of Abbey Credit Cards.
Abbey's research revealed that more than half (57 per cent) pay off their credit card balance each month, something that should enable them to avoid the need for help with money.
However, three per cent said they rarely paid off their credit card balance, something that could lead to them needing help with debt later on in life.
Earlier this month, research from Money Expert showed that credit card application rejections have increased by 17 per cent in the last six months.
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