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Credit card use 'increases over Christmas'
It says that last year, consumers spent 11 per cent more on credit cards during December than during the other 11 months of the year.
A 25 per cent increase in the use of store cards was also witnessed, the association reported.
Fiona Hoyle of the FLA stated: "Christmas can be a tough time, [so] make sure money isn't one of your worries.
"Take stock after Christmas - if you're not going to be able to repay your debts, talk to your lender as soon as possible. They can't help if they don't know there's a problem."
Last week, the Bank of England reported that consumers were making efforts to reduce their debts in the run up to Christmas.
It announced that credit card, loan and overdraft debt fell by £579 million during October 2009.
Moneyextra.com recommends you take independent financial advice before acting on any article
Back2009-12-07 13:17:41 © Moneyextra.com
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