UK Money News
15th February 2008
Credit cards being used for household bills
Credit card spending was buoyed during last quarter by increasing numbers of Britons used their cards to pay household bills, it has been revealed.
According to figures from the Association of Payment Clearing Services (Apacs), some £32.4 billion was spent on credit cards during the Christmas period from October to December.
This is despite reduced takings for the retail sector, suggesting that credit cards are increasingly being used by consumers to service monthly bills.
Chris Tapp, of Credit Action, the debt charity, told the Times: "Retail figures were down over Christmas, yet credit card debt is still rising.
"This indicates that we are seeing people shifting spending on to credit cards as household expenses mount up.
"This is not good news. People using their credit cards to meet their monthly bills is the first sign of a spiral of debt trouble."
Apacs' figures also confirmed the ongoing decline of cheques with a 9.3 per cent decline in their use last year.
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