January 17, 2006

Figures released by Visa indicate that more people than before are using a debit card rather than a credit card. This recent trend has came about after many reports warned consumers of the high cost and risk of using.

This data is also related to the news that debt advice groups were inundated with calls, especially the two weeks after Christmas.

When using a debit card your purchases are immediately taken from your account and you cannot run up a debt.

Visa branded in our pockets have fallen by 3.2% to 42m and total spending fell by 3% to £85.2bn.

This fall in credit card use has not happened before and if people are using debit cards instead this must be viewed as a good thing.

Colin Grannell, Visa UK's managing director said "The strong growth witnessed this year in debit card numbers and usage explodes the myth that Visa is simply a credit card brand,"

Over the same period as the figures used above for, the number of Visa debit should a growth of 21.3% to 47m debit cards while spending rose a staggering 30.5% to £187.6bn.

Debt advice lines were struggling to cope with the demand for help especially after January 3rd.   The Consumer Credit Counselling Service took 9,310 calls in the first nine working days of the year - up almost 14% on the same period in 2005.

For further help with debt please contact:

National Debtline - 0808 808 4000
The Consumer Credit Counselling Service - 0800 138 1111