28 June 2006
More and more people are repaying, rather than adding too, their credit card debts, new research has revealed.
Figures from the British Bankers' Association (BBA) show that despite the fact credit card spending grew in May people actually repaid more than they spent, reducing the overall outstanding credit card debt.
UK consumers spent a total of £7.68 billion on their credit cards in May, up 16% from April.
However, the outstanding credit card debt fell by £251 million, the third time it has fallen this year.
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