Credit cards cost us £94 billion
Posted in General, Marketing January 9th, 2007 by Melinda Varley
New research has revealed that putting Christmas purchases on credit cards is tempting the British public into spending billions of pounds more than they can afford.
The research also reveals that not only are British men spending 22 per cent more of their disposable income on shopping than women, but they are also stacking up a whopping £8 billion more in debts – an average of £2,131 a year each compared to women’s £1,785.
Brits are currently over £94 billion in debt already, but are predicted to have gone £6.9 billion further into the red this Christmas as the temptation to use credit cards and overdraft facilities becomes too much for many people.
If the Government is responsible for telling us what we should and shouldn’t eat and Ofcom can ban all junk food advertising to kids, why can’t it crack down on banks marketing credit cards?
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Tags High Street, Shopping, Credit cards, Retail
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