Plastic spending habits revealed

Figures from the life assistance firm CPP show that around 28 per cent of credit card holders now use plastic to pay for basic expenditures such as food and refilling their petrol tanks.

In addition, as amounts of credit card debt accumulates nationwide, around 14 per cent of the 2,500 people polled by CPP suggested that they thought having a wallet full of credit cards was an impressive sight.

Zoe Manton, head of card protection at CPP, remarked: “The results of this survey show how popular paying by credit card has become and people now rely on their flexible friends to fund everyday life.”

The national charity Credit Action revealed recently that around 300 consumers in the UK are declared bankrupt or insolvent each day.