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Credit card customers take advantage

Credit card customers are making their plastic work harder for them, research has shown.

Figures from the personal finance website, Fairinvestment.co.uk, revealed that around half of credit card customers paid off their balance in full each month.

This means that they pay no interest and take full advantage of the flexibility offered by credit cards.

"With the encroaching credit crunch being felt by consumers through the price of credit and the bills that come through their front door, it is uplifting to see that more than half of credit card customers can still afford to clear their balance each month and are not relying on their credit card for day-to-day essentials, getting further and further into debt," said James Caldwell, director at Fairinvestment.co.uk.

This comes at a time when Britain is facing an unprecedented personal debt mountain.

There is concern that with lending conditions becoming tougher, many people will struggle to repay loans, credit card bills and mortgages this year.

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