Moneysupermarket.com: Brits have "crazy" £253.6 billion credit potential

Money News

www.moneynews.co.uk > Debt > Moneysupermarket.com: Brits have "crazy" £253.6 billion credit potential

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

Moneysupermarket.com: Brits have "crazy" £253.6 billion credit potential

Consumers in the UK could use £253.6 billion if they chose to max out their credit cards, price comparison website moneysupermarket.com has found.

Britons already owe £55.6 billion in credit and nine per cent of people have £20,000 or more available.

The research found that 28 per cent of people do not have credit cards.

Steve Willey, head of credit cards at the website, said the potential for credit was "alarming" and "crazy".

He called it a "wake-up call to all providers" to consider the potential debt when assessing applicants for credit, noting that such people may already have other credit cards.

On Monday, the Post Office reported that 47 per cent of people aged over 50 were using credit for day-to-day purchases, with 64 per cent of the over 70s using it to buy groceries.

Three quarters (76 per cent) of people in this age group have one or more credit cards.
ADNFCR-323-ID-18675798-ADNFCR

Related News : Debt

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : General finance

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Credit cards

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet