January 31st, 2011One in three rely on credit cards to make ends meet
But only 56pc of people pay off their bill in full each month, with 7pc estimating that it will take them more than three years to clear their debt.
Az Alibhai, the head of credit cards at the Post Office, said: “January has been a tight month for many of us, especially with the long wait until payday, and we can see that many people are falling back on credit cards to ease the costs of day-to-day living.
“If the debt is managed sensibly and paid off quickly, this can be very effective. However, if you don’t pay off the bill in full, it can be a pricey way to fund daily purchases.”
Opinium Research questioned 2,102 people during January.
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