A quarter of those under 25 years-old are borrowing to pay their utility bills and 16 per cent resort to a credit card to pay their rent. More than half (52 per cent) admit to using plastic to pay for their groceries. Despite their dependence on credit, 60 per cent don't pay off their credit card bill each month.
New Dual Credit Card offer from AA Bank charges no interest on balance transfers and purchases for 26 months
Are reward cards making a comeback? New card launches paying £60 in gift vouchers for every £5,000 spent
Credit cards that give users either cashback or rewards for spending are not as generous as they once were, but card issuer MBNA is bucking the trend.
Credit checking giant Experian will now give access to credit scores for free, as it launches 'soft search' product comparison service
Experian's new CreditMatcher service will show borrowers which financial products they are likely to be accepted for and give them a free credit score.
Citizens Advice found a quarter of people are not asked about their financial situation or how they will repay the loan. City watchdog the Financial Conduct Authority clamped down on payday loan firms in 2015 and introduced a cap on interest charges. But many are still flouting the rules, leaving people with loans they can't afford.
Average UK borrower struggling with debt owes nearly £17,000 - here's how to get back on track and stay there
The PayPlan research also revealed that Essex topped the list of the biggest debt hotspots, with the average borrower owing as much as £18,508. Cambridge and Belfast followed close behind with the average amounts owed of those referred to the debt management firm standing at £18,463 and £17,114 respectively.
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Planning on getting on the property ladder in the next 12 months? Top tips on how to get your credit score up to scratch
If you are thinking of getting on the property ladder in the next year, making sure your credit rating is in tip top condition will be a top priority.
Getting your credit score in shape will help avoid mortgage rejection and helping you to get the best rate on your home loan. Here are This is Money's top tips for getting your credit file in order
Virgin Money bumps up interest-free balance transfer deal to 41 months - the longest deal ever available
Virgin Money has launched a new balance and money transfer credit card giving borrowers 41 months 0 per cent interest - the longest deal ever offered. The new card comes with a 4 per cent fee for shifting debt from an existing credit card or moving money to a current account if made within the first 60 days of opening the account.
Today marks 50 years of credit cards in the UK: Here are 15 facts you never knew about your flexible friend
The UK has now been spending on credit cards for 50 years, following the first issue of a Barclaycard on 29 June 1966. As of November last year, there were 60 million cards in circulation across the UK and the average household owes £2,387. Here are 15 things you probably didn't already know about them.
Borrow interest-free for three-and-a-half years! The best balance transfer credit cards to help clear your debts
Switching your debts to a balance transfer card can speed up the repayment of debt because most, or all, of your repayment goes toward wiping out the balance and not paying interest. But beware: there are caveats to consider and barriers to overcome when applying for such cards.
Did you pick up your bad financial habits from your mum and dad? A third of adults who live beyond their means say their parents do the same
Almost half of people who spend their earnings before their next payday claim their parents do the same, according to a study by TSB, while a third of adults who spend more than they earn admit their parents' were guilty of doing so.
Representative example: If you spend £200 at a purchase interest rate of 18.9% p.a. (variable) your representative rate will be 18.9% APR (variable). Credit limits and terms may vary based on your individual circumstances. Balance transfer offers and introductory fees limited to transfer made with 60/90 days of account opening. See product specific T&Cs.;
Borrowers pour £320 down the drain by failing to shop around for the cheapest loans - and car buyers waste £200 more
Borrowers are throwing away as average £320 in interest by failing to shop around for the cheapest financing options when buying cars, home improvements holidays and weddings, according to research from Ikea-owned, Ikano Bank. Car-buyers are the worst hit, wasting as much as £520 to the bill by ignoring the most cost effective borrowing options.
Personal loan rates are starting to creep back up but here's a clever way to save on your interest repayments
Household debt binge hits pre-crisis levels as Britons go mad for new cars and cheap loans, Bank of England warns
Loans for new cars made up the bulk of new borrowing, but a growing appetite for cheap cash through personal loans also drove up debt. The annual growth rate of consumer credit hit 9.3 per cent in February, the highest pace since December 2005, the Bank of England's latest credit conditions survey revealed.
Warning! A 0% card starts when you sign up not when you transfer your balance or receive it in the post
Home renovations top list of reasons for taking a personal loan - but is a loan a better option than remortgaging?
Falling personal loan rates means some rates are as good or better than what you could get through a remortgage or further advance from a mortgage lender. This is compounded by mortgage lenders making it harder to get finance.
Shoppers using Debenhams, House of Fraser or Topshop store cards could be in line for refunds after provider NewDay admitted imposing unfair charges. Following discussions with City watchdog the Financial Conduct Authority, NewDay has pledged to refund more than £4million to over 180,000 customers.
Taking out a store card for your favourite shop can be tempting with discounts on offer. However, card operators make their money from the sky-high interest attached - often ranging between 25 and 30 per cent. Forget to clear the balance each month and interest will quickly eat away at any savings made through the in-store discounts.
Two million credit card holders can apply for up to £216 compensation after being sold 'security products' they got for free
Customers of 11 high street banks and card providers are in line for a pay out, including those with credit cards from Lloyds, Barclays, Santander and the Royal Bank of Scotland. Affinion International Limited sold products that it said would offer customers protection if their card was lost or stolen and they fell victim to fraud. However banks generally offer this cover anyway.
Financial services firm Virgin Money claims customers can tuck 'a little bit of rebellion' in their wallet with its new Sex Pistols credit card. But the card is hardly unleashing financial anarchy in the UK. Experts say its fees for allowing customers to transfer card balances from other providers are no better than those offered by rivals such as Barclaycard and Halifax. New homeowners Anders Nilsson and Hana Lewis switched to a new card after his deal with Barclaycard ended.
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