UK Money News
14th February 2008
Brits are credit card kings of Europe
A new study has revealed that Britons are more likely to have a credit card than people from any other European country.
Figures from Datamonitor show that the average Briton holds around 2.7 cards, 1.4 of which are credit cards.
This is twice as many as Norway, which was the second-placed country in the study, where the average number of credit cards stands at a relatively lowly 0.7.
Elsewhere in Europe, it seems that a 'buy now pay later' attitude is largely absent, however, especially in Germany where just one in 16 cards is a credit card.
The study's findings are indicative both of the ease of obtaining credit in the UK and the fact that Britons are more comfortable with the idea of going into debt, according to report author Andrew Fabricius.
He commented: "The high penetration of credit cards in the UK is due to consumers being happy to pay for goods and services by using credit and enjoy the flexibility of paying for purchases over a longer period of time."
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