Credit card holders are displaying a more sensible approach to debt, according to UK payments association Apacs.
A spokesperson for the group said that nearly 60 per cent of British credit card customers repay their full credit card debt every month.
Mark Bowerman added that the message of responsible borrowing is getting across to credit card customers.
He explained that credit card customers vary in terms of how much they repay every month.
"By far the biggest chunk is the people who pay off the full amount every month," Mr Bowerman commented, adding that this figure currently stands at around 59 per cent.
In addition, Britons seem to use debit cards more than credit cards.
"The inference that you can draw from that is that people are becoming more responsible with the money that they spend on their credit cards," Mr Bowerman commented.
And while financial institutions have a role to play in lending responsibly, he added that it is up to individuals as well to borrow responsibly.
Recent statistics from Credit Expert show that one in ten credit card holders have taken out another credit card in order to repay debts on an existing credit card.
News Side
Credit card customers 'becoming more responsible'
Wed, 16 May 2007
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