Millions set to increase credit card spending
February 1, 2011
It has been claimed that millions of people could increase their credit card spending over the course of this year. Figures have been released as part of the Consumer Credit Report from the Post Office, and the data suggests that around 2.4 million people could be putting more on their credit cards this year.
The figures also suggested that for around 52 percent of credit card users in the UK the level of spending would remain the same this year as it was last year. Research was carried out to determine consumer intentions with regards to credit card spending for 2011. The figures showed that in around 17 percent of cases consumers were expecting to increase their credit card spending by around £200 a month.
A further 32 percent of those that were polled said that their credit card spending was likely to increase by around £100 a month. Many people struggled last year in terms of their finances, and ended up having to turn to credit cards and other forms of finance to fund their spending. Officials believe that this year is set to be as difficult if not more difficult for many households, and this could contribute to the increase in spending on credit cards. For many, this could lead to spiralling levels of debt, and could result in some people being pushed over the edge financially because they cannot afford the repayments on their credit card debt.
Tags: Personal finance, households, Many people, consumers, official, long waitAn official from the Post Office said: “January has been a tight month for many of us, especially with the long wait until pay day, and we can see that many people are falling back on credit cards to ease the costs of day to day living.”
Be Card Smart Online campaign launched
November 13, 2010
With Christmas now just around the corner a rising number of people will be getting their credit cards at the ready to make a range of purchases online. Shopping online has become extremely popular, and many people use the Internet to do most or all of their Christmas shopping because of the convenience, ease, flexibility, choice, and value for money that is offered.
However, whilst shopping online with your credit card offers all of these benefits it can also result in increased risk of fraud for those that are not careful and vigilant when using their credit cards online. Many people that do not exercise adequate caution when making credit card purchases online become the victims of credit card fraud, and this is something that industry officials are hoping to cut back on this year.
The UK Cards Association has now decided to try and help consumers to be more careful online, and has launched its Be Card Smart Online campaign, which is aimed at helping people to stay safer when using their cards online through the provision of sound advice. Amongst the advice that the UK Cards Association is offer as part of the campaign is for consumers to ensure that they check that website are secure with the padlock symbol, to make sure that their anti-virus software is up to date, and to make sure that they use their browser to access websites rather than linking through an email.
Tags: Christmas, convenience, credit card, corner, common sense advice, Many peopleAn official from the UK Cards Association said: “Our Be Card Smart Online campaign has definitely played its part in driving down online fraud losses and we urge anyone planning to shop online this Christmas to remind themselves of our common sense advice.”