Credit card users 'getting organised'

Credit card users 'getting organised' Wednesday 21st January 2009

Many UK consumers are viewing the beginning of the new year as an opportunity to reduce their credit card debt, it has been claimed.

Halifax said that it has noticed an increase in the number of card users arranging balance transfers during January, with many people aiming to stick to their new year's resolution of sorting out their finances.

According to data from Apacs, the average UK credit card holder has an outstanding balance of £1,856.

"Our own figures show an uplift in the number of people seeking to take advantage of balance transfer deals," commented Alan Brindley, head of Halifax card services.

"We're delighted to see many people are organising their finances after the festive period," he added.

The Thrifty Scot recently claimed that credit cards are "the leading cause of debt problems" among British people, as many users fall into the habit of paying off the minimum amount on their card each month.

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