Some Brits 'using credit cards every day'

By Sarah Engle, Tue 16 Feb 2010 - Published in Credit Cards

New research has suggested that Brits are still reliant on their credit cards, with around 14 million people thought to use them to fund everyday purchases.

A study by moneysupermarket.com found that one in five people carry more than three credit cards around with them, with 17 per cent using one of them every day and another 28 per cent putting purchases on them at least once a week.

The research found that using credit cards is to buy goods online is the most popular use for them, with 56 per cent doing this, while 40 per cent break out the products to find day-to-day spending.

Peter Harrison, credit cards expert at moneysupermarket.com, commented: "It's alarming to see that so many people are using credit to pay for day to day expenses as this can be a dangerous habit to get into."

Santander recently recommended that people look for the best deals on the market when considering using credit cards overseas, in order to avoid paying large foreign exchange fees.

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