This morning I was reading an article about credit cards, where it was found out through research that in the UK, Britons are twice as likely to have a credit card, compared to people in other countries in Europe. Britons’ extensive use of credit cards has seen them collectively run up £54.93bn in plastic debt at the end of 2007, according to Bank of England figures.
It was found out that credit cards are in many cases being used as borrowing tools by applying for new credit cards to transfer an outstanding balance and to take advantage of interest free offers. In a way, it could be said that there is an increasing trend towards using credit cards for everyday purchases, not only in the UK, but in other countries as well.
For some, like loans, credit cards have become a necessary evil. Truth be told, credit cards are seen as a solution when cash is not available. This is not a problem if credit cards are used wisely. The only problem would be if this leads to a situation of bad credit, where one cannot keep up with payments and ends up with a lot of debt due to excessive credit card use. This is why credit card companies generally offer their best deals and incentives to consumers who have excellent credit histories. Consumers with good credit can expect to get low interest rate credit cards or 0% introductory offers.
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I am trying to get rid of my credit card debt
but it is so hard with all the expenses we have nowadays 
Hi Wen, how r u? I hope you are having a good day!
It’s true that nowadays we have so many expenses!
I think a good way to try and reduce debt is to try and save a small amount each month, which would go towards paying it. But you’re right..it’s not easy.