Brits 'have 1.2 credit cards each'
21/08/2006
The average number of active credit cards in the UK is 1.2 per adult, new research indicates.
Additionally, 45 per cent of adults are holding onto credit cards that they have not used in the last 12 months, according to a report by Morgan Stanley credit card.
Further findings by the company show that one in seven dormant cards is a Big Four credit card; the Big Four banks are Barclays, NatWest, HSBC and Lloyds TSB.
A total of 23 per cent of cardholders have more than one credit card that they use on a regular basis or that carries a balance.
Patrick Muir, marketing director for the Morgan Stanley credit card, said: "There has been much speculation about the increasing use of plastic in the UK but our report shows that British cardholders are perhaps more savvy than they have been given credit for.
"Millions of cardholders are taking advantage of loyalty schemes for their everyday spending, with these cards least likely to be lying idle in wallets."
Regionally, the research shows that people in London have an average of 2.1 credit cards each, whereas those in the midlands have 1.7 per person.
Morgan Stanley, the company which conducted the research, is a global financial services firm and a market leader in securities, investment management and credit services.
Additionally, 45 per cent of adults are holding onto credit cards that they have not used in the last 12 months, according to a report by Morgan Stanley credit card.
Further findings by the company show that one in seven dormant cards is a Big Four credit card; the Big Four banks are Barclays, NatWest, HSBC and Lloyds TSB.
A total of 23 per cent of cardholders have more than one credit card that they use on a regular basis or that carries a balance.
Patrick Muir, marketing director for the Morgan Stanley credit card, said: "There has been much speculation about the increasing use of plastic in the UK but our report shows that British cardholders are perhaps more savvy than they have been given credit for.
"Millions of cardholders are taking advantage of loyalty schemes for their everyday spending, with these cards least likely to be lying idle in wallets."
Regionally, the research shows that people in London have an average of 2.1 credit cards each, whereas those in the midlands have 1.7 per person.
Morgan Stanley, the company which conducted the research, is a global financial services firm and a market leader in securities, investment management and credit services.
