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Credit card charges: Third of Brits relied on credit cards in January

A third of people in the UK had to rely on their credit cards for day-to-day costs in January.

That is according to the fourth annual Post Office Consumer Credit Report, which found that over 11.5 million people had to use credit cards to fund living costs in the first month of 2011.

Az Alibhai, head of credit cards at the Post Office, claims that January has been a particularly difficult month and that many people have had to fall back onto credit cards to ease the long wait until pay day.

However, Mr Alibhai suggests that consumers must pay off their debts quickly it becomes a very costly method of funding daily purchases.

He said: "With many people expecting to increase their credit card spend this year and to help customers manage their finances during the ongoing post-Christmas pinch, we urge cardholders to check out their interest charges and consider switching to a deal with a zero per cent offer on purchases and balance transfers."

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.

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