A new YouGov SixthSense report into the British credit card market has revealed that high frequency credit card users are more likely to be in good financial health and owe less money on their card than low frequency credit card users.
Heavy card use does not appear to be connected to financial difficulty and a reliance on credit, but is actually associated with wealth and stability. Frequent credit card users are more likely to give a positive appraisal of their financial situation.
Of those who owe money on their credit card, the average amount owed per cardholder is £2,881 whereas cardholders who say they ‘never’ use their cards any more still owe on average £3,437.
