Credit card usage 'to rise this month'

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Credit card usage 'to rise this month'

A significant rise in credit card usage has been predicted to take place in January as a result of tightening budgets, it has been revealed.

Figures compiled by the Post Office have shown that more than a third of credit card holders will rely on borrowings to pay for daily items this month, while more than two million Brits have said they will spend more on credit cards this month than they did in January 2011.

Post Office head of credit cards Az Alibhai said: "Whilst it is good to see so many people intending to manage their credit card purchases and repayments sensibly, there are still too many people who aren't thinking of the consequences."

It follows comments by editor of CashQuestions.com Annie Shaw, who recently claimed there is nothing wrong with putting money on credit cards when times are tight, but only as long as people know they can pay off those borrowings in the short term.

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