Credit card debt is one of the main contributors to debt problems in the UK. If you are having problems controlling your credit card spending or struggling to make your regular payments, we can help.
Use our online debt counselling service CCCS Debt Remedy, which will provide you with the most appropriate help for your credit card debt problem.
Credit card debt statistics
- According to Credit Action, in August 2010, the nation's total credit card debt stood at £58.3 billion.
- Credit cards are in widespread use. According to the UK Payments Council, there are more credit and charge cards than people in the UK. The British Bankers Association (BBA) says the proportion of cards bearing interest is around 70%.
- Interest rates for credit cards are relatively high, making credit card debt particularly hard to pay off. According to Credit Action, in October 2010, the average interest rate on credit card debt was 18.67% – over 18% above the base rate.
Credit card debt help
The best way to use a credit card is to pay off the balance every month. If you are unable to do so, pay off as much as you can. If you only pay the minimum amount on your statement, the interest will build up, meaning your debt will take much longer to pay off.
If you are worried about your credit card debts then stop using your card immediately. If you are struggling to meet your credit card payments, contact your card provider and let them know about your situation.
Credit card debt advice – contact CCCS
If you are having problems with your credit card debt, our free online debt counselling service CCCS Debt Remedy will help you find the best solution.
Remember, debt advice from CCCS Debt Remedy is FREE, impartial and confidential.
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