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Credit card charges: Quarter of Brits 'struggling to make ends meet'

A high proportion of Brits may well be experiencing credit card charges as recent research by moneysupermarket.com has revealed that one in four consumers struggle to make ends meet.

The report by the price comparison website found that the average weekly outgoings for British adults rose by £54 over the last six months.

Over a fifth of people said they have reached their "affordability tipping point", claiming they would be unable to cope if they needed to stretch their finances any further.

Kevin Mountford, head of banking at moneysupermarket.com, said: "Energy hikes, the soaring price of petrol and the rising cost of everyday basics such as food, have hit households hard.

"Many workers also have to deal with pay freezes, meaning their incomes are actually dropping in real terms, it is no surprise many feel like their finances are either at, or rapidly approaching breaking point.

His comments follow news that the Bank of England will keep inflation at 4.5 per cent.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.
 ADNFCR-2776-ID-800578366-ADNFCR



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