The Importance of Credit Cards
Credit cards play a huge role in the lives of households across the UK. With 71% of all UK adults owning at least one credit card1 the UK has the highest proportion of credit card owners in the world2, and credit card spending reached £174 billion in 2015 with over 3.1 billion transactions taking place3.
With our credit cards permanently in our pockets and bags, we spend more of our waking life with them than we do at work, or with our friends and family. But given the important role they play in our lives, do we pay our flexible friends the attention they deserve?
Choosing and Managing Your Credit Card
Choosing and managing a credit card requires attention and care, and without a sufficient level of understanding it can be easy to make the wrong decision and fall in debt. By the end of 2015, total credit card debt stood at £63.1 billion - or £2,336 for every household in the UK4 – and as the results of our latest survey show, there is a significant knowledge and awareness gap which needs to be addressed.
You can find the results of our credit card survey below, along with a selection of guides to help you select the right credit card for your needs, and manage it wisely.