25% of SW residents splurge ‘on the card’

With the rise in interest-free credit cards and more South West residents looking to build their credit rating, it seems many are now looking to put purchases ‘on the card’.

A study by TopCashback.co.uk, released today, found that around half of South West residents believe that having a credit card has allowed them to live beyond their means, whilst 86 per cent say that it’s helped them to build a credit rating.

Around a quarter of South West residents are looking to credit cards as a way to spread the cost of spontaneous purchases and luxury goods.

However, despite being savvy and using credit cards for pricey purchases, more than a third of residents have admitted to regretting a spontaneous purchase shortly afterwards.

Other key findings reveal that:

• Around three-quarters of South West residents own a credit card
• 21 per cent of residents in the South West are not happy with the amount of interest they’re paying back on their credit card
• Around a third of South West residents don’t trust themselves with their credit card balance