Credit card spending soars

The latest numbers reveal spending by UK customers on credit cards jumped by almost 10% last month when compared with the same period in 2009.

Both the rising cost of food and oil may have had an impact on the pricing of goods however, it could be more sinister as households rely on credit cards to pay for every day running costs. This could be driven by families moving from 2 wages down to one or people losing out on overtime, bonus payments or having to take lower paying jobs.

This is the fourth month running that the annual rate of increase has jumped over the nine percent mark.

If you're struggling with credit card debt and need answers please get in touch today so we can try and help you.

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