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Credit card debt problems could rise as online spending surges
Monday, November 29th, 2010Credit card debt in Britain could rise as the level of spending online escalates, according to a new survey.
Sainsbury's Finance found 5.9 million people have started using cards online, with only seven per cent of account holders not using the web to make purchases.
In total, Britons spend £6.4 billion a month online, or £192 per person, while 1.2 million people spend as much as £1,000 or higher, the research found.
The most popular items were music and DVDs, books, fashion and holidays, while the biggest spenders on plastic were those living in the south-east at £236 per month.
Such spending could lead to some getting into deep debt as they run up significant bills on cards, not least among those with a high rate of interest.
A different Sainsbury's survey earlier this month found the equivalent of 21.2 per cent of consumers' disposable income is spent on credit cards.
By Joe White
