Britons using credit cards regularly
Published On 12 November 2007
As many as one in ten credit card holders - three million people - use their credit card on a daily basis, according to research from Abbey.In a survey of credit card customer habits, the provider found that a further 18 million (54 per cent) use their cards at least once a week. Of the 35 per cent of credit card holders who use their cards once a month, the research revealed somewhat surprisingly that the majority were younger people.
Online shopping was found to be the most popular usage for credit cards, with more than 20 million (61 per cent) saying they regularly used their card on the internet, approximately 62 per cent of men, compared to 52 per cent of women.
"There is no one way that people use their credit card and we see as many different spending patterns as there are people. Our job, as an innovative credit car provider, is to offer benefits on our Abbey credit card that are relevant to all the different types of credit card user," said Roger Lovering, managing director of Abbey Credit Cards.
Despite recent interest rate rises, the report indicated that 19 million (57 per cent) of card holders clear their outstanding balance every month, while 24 million (72 per cent) "regularly" pay of their debts and only one million (three per cent) "rarely" manage to clear their balance.
