Consumers 'hanging on to unused credit cards'

Money News

www.moneynews.co.uk > Credit cards > Consumers 'hanging on to unused credit cards'

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Consumers 'hanging on to unused credit cards'

British adults have an average of 2.3 credit cards that they no longer use, but are dubious about giving them up altogether, according to new research.

The poll, conducted by uSwitch.com, found that 16.3 million people in the UK have unused cards, with eight per cent owning as many as four and seven per cent having between five and six nestled in their wallets.

Overall, the study found that there are 38 million credit cards in the UK with a total credit limit of £200 billion that are currently lying unused.

"Credit checks are influenced by the amount of credit available to spend. So in effect, this lifeline could become a financial bottleneck to the next best deal," explained personal finance expert at uSwitch.com Louise Bond.

Last week, a new report from consumer group Which? Holiday showed that low-cost airlines and travel companies have significantly raised their transaction fees over the last 18 months for those who book flights using a credit card.

Click here for more credit cards news
ADNFCR-323-ID-19275840-ADNFCR

Related News : Credit cards

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet