- Tuesday, 16 February 2010As more Brits continue to fund their daily living with credit,
IVA advice may be needed to combat the subsequent debt.
New research from moneysupermarket.com reveals that over 14 million people are using their credit card for day-to-day expenses, and 17 per cent use their card at least once a day.
One in five people were found to carry three or more credit cards, with more than half using them to purchase goods online.
Credit cards expert at moneysupermarket.com Peter Harrison said plastic was still playing an important role in the nation's finances.
"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," he said.
"If you are funding everyday items such as petrol or food, and still paying for it long after the product has been used, you should seriously consider stopping."
A surprising one third of women were found to not have a credit card at all, compared to a quarter of men. Only half of female credit card holders use it more than once a month, while the same amount of men use theirs on a weekly basis.
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