7 September 2005
People in the south-east are using their credit cards less for the first time ever, a report has said.
The Apacs research says that last year the south-east spent £4 billion less on credit cards than in 2003, according to This is Money.
The unexpected news comes as debit card spending rose by £6 billion on 2003.
An Apacs spokesman told This is Money: "It appears there has been a shift in consumers paying for goods on credit to paying from their current accounts with money they already have. Maybe this is the start of more sensible lending."
Frances Walker, a spokeswoman for the Consumer Credit Counselling Service, said: "You have to put these figures into context. People are still spending billions of pounds on credit and they are still getting deeper into debt. We are receiving 50 per cent more calls this year than we were in 2004."
Credit cards remain a good solution for short-term financial needs.
Use uSwitch.com's impartial calculator to compare all credit cards and find the card to suit your needs.
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