October 31st, 2006 No Comments » | POSTED BY ROB
Motley Fool: Should We Tax Credit Cards?
No one can deny that we in the UK love our plastic. In 2005, there were nearly 142 million payment cards in issue, with 70 million of these being credit cards, 67 million debit cards and around 5 million charge cards. This means that, on average, we each have 2.4 credit cards and 1.6 debit cards in our pockets. Blimey!
So what on earth are we doing with all of these cards? Well, spending seems to be pretty high on the agenda. According to the UK payments association APACS, we spent over £292 billion on our cards last year – that’s four times more than a decade ago, with over £122 billion on credit cards alone. It is perhaps unsurprising that according to the British Bankers Association we owed over £66 billion on our credit cards at the end of March, 75% of which was interest bearing debt!…
- Motley Fool: Warning Signs For Homeowners! (November 16, 2006)
- MoneyExpert: Barclaycard: Debts Of Â£1.5bn To Be Written Off (November 30, 2006)
- MoneyExpert: Credit Card Spending Doubles In Five Years (October 13, 2006)
- MoneyExpert: Credit Card Balances Decline For Fifth Month (October 31, 2006)
- Motley Fool: The Credit Card Safety Guide (August 22, 2006)