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Brits at risk of credit card charges using plastic to plug spending gaps

Brits are using forms of credit to plug spending gaps, as the amount they earn cannot cover all of their outgoings, according to new research.

Comparison site found that 23 per cent of individuals are just breaking even at the end of the month, while a further seven per cent find themselves in the red.

More than a third (37 per cent) of these people are using overdrafts to fund their expenditure, while 28 per cent are using savings and 23 per cent turn to credit cards.

This is putting Brits at risk of expensive overdraft and credit card charges that may impact them further down the line.

"If you do need to borrow money, take time to look at the best loan and credit card deals on the market," said Michael Ossei, personal finance expert at

"It might seem like a good idea to take the first deal that comes along, but the chances are you'll end up regretting it and paying more over the long term."

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801500025-ADNFCR

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