Over 14 million Britons use their credit cards for day-to-day living costs, according to new research from Moneysupermarket, highlighting a reliance on debt amongst many people.
The price comparison website also found that one in five people have more than three credit cards, and that 17% of credit card holders use their card at least once a day. A further 28% said they use their card at least once a week.
However, many credit card holders use their credit cards for their own gain: 25% said they use their cards to gain reward points, while 11% use their cards for cashback and 0% interest purchases.
A Think Money debt expert commented: “Using credit cards for general day-to-day spending is potentially risky. If any unexpected costs prevent the borrower from repaying their debt on time, then that debt could grow more quickly than they expect.
“Using debit cards or cash for day-to-day spending can reduce the chance of getting into trouble with debt.”
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