A new report by money education charity Credit Action has revealed that UK personal credit card debt has risen by £1.3 billion to £231 billion since last year.
Total UK personal debt, which includes money owed on mortgages as well as credit cards now stands at £1,458 billion, a £34 billion increases on last year's figure.
However, the rate of increase is not as great as it was in January 2008, which saw a rise of £8.4 billion in credit card debt.
Total personal debt increased by £116 billion in January 2008.
Credit Action said that the average household debt excluding mortgages stood at £30,470 at the end of February this year.
A recent survey by debt management company Kensington Financial Management Consultants revealed that a quarter of British people have used credit cards to buy non-essential items and a similar figure have admitted to being in debt due to shopping .
| credit card news |
|---|
| Late credit card payments growing - Wed, 21 Jul 2010 |
| Halifax credit card may not be right for everyone - Fri, 09 Jul 2010 |
| Credit card provider reveals parents hit by summer holiday premiums - Mon, 05 Jul 2010 |
| More News |
Simplyhealth Dental Plan
Affordable cover from only £7.50 per month. Join now and get first month FREE
Income Protection Insurance
Get an instant quote with the award winning company
Amex Cash Back
Credit Card
Credit Card
Get 5% cash back on purchases with Amex
Credit card debt sees year-on-year rise
Mon, 06 Apr 2009
Recommended links
Best credit cards deals onlineCompare today's best credit card offers
Compare credit card types and issuers
Reclaim your credit card charges
Credit card charges reclaim service
Compare 0 per cent APR credit card offers
Credit card advice guides
Free debt help and advice
Dealing with debt problems
Causes of debt
Getting out of debt
Millions still paying off Christmas 2007 credit card debts
Credit card debt could take 31 years to repay, research finds
Credit card 'rate tarts to blame for rises'
Barclaycard freezes credit card rates
news content
Search
