Credit cards 'as popular as ever'

Consumers are still as reliant upon credit cards and borrowing money as they have been in previous years, according to Credit Action.

The latest statistics from the Bank of England reveal that lending to consumers increased by £0.7 billion last month, with credit card lending up by £0.1 billion.

Chris Tapp, director of Credit Action, said that there is still a great demand for credit cards from consumers.

He said: "We haven't seen the end of Britain's love affair with the credit card and a lot of people will be using existing lines of credit on credit cards and also seeking new ones."

Figures from Credit Action reveal that total UK personal debt at the end of August 2009 stood at £1,457 billion.