Debit and credit cards 'more popular' in south
04 January 2010 13:08:30
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| The popularity of credit cards varies significantly across the UK. |
The Payments Council found that Britons living in the south-east of England are the most likely to be in possession of plastic (97%), with those in the West Midlands the least likely (86%).
From a broader perspective, the body's statistics also revealed that 95% of southerners hold debit or credit cards, compared with a figure of 91% for northerners.
"This research, on the whole, confirms long-standing trends: increasing reliance on debit and credit cards and phone or internet banking, and a noticeable decline in use of cheques," said Sarah Quinn, director of communications at the Payments Council.
The study also revealed that the south-east has the highest proportion of credit card holders of any region (69%), while the lowest level was recorded in Yorkshire and the Humber (51%).
A new report by the Bank of England last week suggested that the current low interest rates are allowing Britons to concentrate on paying off their credit card balances.
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