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Brits carrying unused credit

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21/08/2006

Almost a half of all British adults (45%) carry credit cards in their wallets that they haven’t used in the last 12 months, a new report has claimed.

The Morgan Stanley Credit Card report investigated the use of plastic by British credit cardholders and found that the average UK adult carries 1.2 cards in their wallet.

However, only 23 per cent of cardholders use more than one card on a regular basis. The study found that cards with a reward scheme such as cash back, or reward points were most likely to be used regularly for everyday spending.

The cards unlikely to be used on a day to day basis were cards with expired zero per cent offers, according to 33 per cent of adults.

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.”

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