Plastic Christmas: One in four families will start 2018 with a monster credit card bill
One in four families will start 2018 with a monster credit card bill after putting Christmas on plastic.
On average they will still owe £452, research shows.
Half of those with credit card debts believe they will still be paying it off next Christmas. Meanwhile one in ten are still grappling with their bills from Christmas 2016.
In total, uSwitch estimates that Britain will have a £8.5 billion credit card debt hangover going into the New Year.
The findings come amid fears that interest rate hikes next year could plunge thousands of families into financial crisis.
Tashema Jackson at uSwitch says: ‘Shopping around for the best deals on energy, broadband, insurance and mobile phone tariffs could help cut your spending in the new year, and charities like StepChange offer free and impartial advice to help get debt under control.’ You can call Stepchange on 0800 138 1111.