Credit card usage set to soar over the Christmas period

It should not come as too much of a shock that credit card usage numbers went up during the Christmas season as many Brits turned to their plastic to help finance their Christmas gifts. According to figures, about a third of all people used plastic in order to buy their presents adding to their total debt while another 13% chose to overdraft or take out

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Credit card debt mounts up more quickly than any of us realise

Many people count on their credit cards in order to help meet the bills every month or to take care of large purchases that they need. However, while it may be nice to have a credit card to rely on, not everyone can pay off the balance every month which can make it easy for the amount of debt you owe to quickly add up.

This

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Selecting the best credit card for your needs

When it comes to choosing a credit card you want to be careful because in the last few years alone many people have been mis-sold PPI loans and as a result confidence levels in loans have dropped to a very new low. Therefore, before you start looking at cards you need to take a look at ppiclaims.uk.com and see if you are entitled to claim

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Yearly credit card statements in the pipeline

In the UK there are over 30 million people with a credit card and it is expected that a new system is going to be introduced which will mean that holders of credit cards get a statement every year, on the anniversary of when they took out the card.

This is a new initiative that has been started by the UK Cards Association. They have developed

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Credit card losses fall but cheque fraud is on the rise

In 2011 the number of card losses fell by over six percent to reach a figure of nearly £350 million.

In the last three years, the number of card losses has fallen by nearly 50 percent, according to figures released by Financial Fraud Action.

There is also good news in the online banking sector, as the amount of fraud seems to have reduced by nearly 25 percent

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Credit cards are out cash is in for Christmas shopping

A recent survey has highlighted that this year British people are using cash to pay for gifts more than they are their credit cards. The cash machine network run by the company LINK have said that compared with last year there is then a 10% increase on the amount of cash people are withdrawing.

John Howells is the Chief Executive of the company and he said,

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