Credit and debt news
Consumers' credit card responsibility growing
17 May, 2007
Consumers in Britain are becoming more responsible with their credit cards, according to payments association APACS
More and more people are striving to pay off the full amount on their cards each month, and Apacs spokesperson Mark Bowerman said it was down to consumers taking more responsibility.
Bowerman said that lenders must take care when allowing consumers to extend their spending limit, but said that people were using their debit cards far more than their credit cards.
He suggested that this showed they were taking more responsibility and revealed that around 59 per cent of people were paying their bills in full each month.
And when asked if he thought credit was used wisely in Britain, Bowerman had positive news: "You have people who pay off their monthly statement in full every month, then you have people that pay a bit, then you have people who pay the minimum repayment.
"By far the biggest chunk is the people who pay off the full amount every month. I think that stands at 59 per cent. I think the message is getting across."
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