Briton credit card holders spending more

16/05/2007

Figures have shown that Britain credit card holders spend 15 per cent of their salary via credit card purchases.

CPP have shown that over a lifetime card holders can spend over £150,000.

They also concluded that the average credit card user spends £3,541 a year, this can be from bills, holidays, entertainment, to even purchasing a new car.

Nearly 40 per cent of credit cardholders look for the 0% credit card balance transfer offers and the remaining chase up deals changing cards every year, this leaving a total of 59 credit cards throughout their whole lifetime.

Nearly 25 per cent of people sign up for a gold card, from recent figures, 12 per cent stated that they applied for a gold card because it looks fancy in their wallet, another 14 per cent said they enjoyed collecting different credit cards.

It is dead certain that men own more credit cards than women. CPP made a clear warning to credit card users.

"Credit cards are definitely a part of our everyday life but that surely opens up the possibility of abuse," said CPP.

"Around 13 per cent of Brits say they have been the victims of credit card theft and a whopping 80 per cent are very aware of the dangers of credit card fraud and identity theft."