Brits spend like crazy in credit card comparison

Share This:

• 

Text size: A A A

Britons "crazily spend more than £150,000" on plastic in a lifetime, according to credit card comparison figures from life assistance firm CPP.

Research conducted by the company found that Britons may hold up to 59 credit cards over the course of their financial lifetime.

The study also found that the average consumer holds three credit cards - one of which is a retail store card - at any one time.

Zoe Manton, head of card protection at CPP, suggested that with so many credit cards in circulation, consumers may benefit from insuring their account against fraud or theft.

"Having card protection allows customers to have all their cards cancelled at the touch of a button, reducing the changes of falling victim to fraud," she explained.

Her suggestions echoed advice from credit information provider Equifax, which this week warned that documents such as cheque books and pay slips could expose female shoppers to the risk of fraud if their handbag is stolen.

The warnings came as Equifax published research showing that 80 per cent of women carry a credit card, 32 per cent leave till receipts alongside it and 22 per cent also keep their national insurance number in their handbag.

Important Notice
This guide is intended for general information only and is not intended as, and does not constitute, any form of advice, recommendation or endorsement by us of any particular product(s) or services and you should rely on your own further research and professional advice in relation to your specific requirements and circumstances before purchasing any products or services. Use of this guide is subject to the Terms of Use of the KnowYourMoney site.