British adults 'reliant on credit cards'

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British adults 'reliant on credit cards'

As many as 14 million adults are utilising credit cards to fund their everyday expenses, which is a worrying trend, according to moneysupermarket.com.

Using credit cards to make online purchases is the most popular form of spending for 56 per cent of consumers.

But not all consumers consider paying with their cards as their only option, as many have learned to use plastic for their own benefit.

With many cards offering reward points, 25 per cent of holders told the price comparison site that they use their card just to accumulate the bonuses.

A further 11 per cent said that they use their cards for cashback and zero per cent on their purchases.

Peter Harrison, credit cards expert at moneysupermarket.com, said: "Holding more than one credit card can be a good idea, if you are using one for balance transfers and one for purchases, and have suitable zero per cent deals on both."

The price comparison site has also warned that some people may be paying above the odds by using a credit card which has expensive charges when on holiday.

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