Britain Cuts Back on Credit Card Habit

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00010551-britain-cuts-back-on-credit-card-habit/

By Rupert Jones, The Guardian

Spending on credit cards has shown a year-on-year fall for the first time, according to figures from Visa, indicating that consumers are taking on board warnings about running up too much debt. Instead, shoppers are using their debit cards for their spending.

The data from the card group coincided with news of a surge in the number of calls to debt advice lines during the first two weeks of the year as borrowers took stock after Christmas.

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