With Glastonbury (25-29 June) kicking things off in the UK, thousands of young adults are gearing up for summer’s biggest music events. But experts have warned that festival trips are increasingly being funded by credit.
According to Equifax UK, total outstanding credit card debt now sits at about £70bn. Credit card originations levels were elevated throughout 2024 when compared to previous years and this growth has continued into 2025, indicating that some consumers may see credit cards as a tool for managing their finances.
Buy now, pay later (BNPL) use is also continuing, with Equifax data from the first month of this year showing the average BNPL customer spends an average of £66 per month, an increase on last year.
Craig Tebbutt, financial health expert at Equifax UK, said: “Festival season should be about creating unforgettable memories – not unmanageable debt. We want young festival goers to enjoy everything summer has to offer, but also to be mindful of how they’re funding the fun. It’s all too easy to tap into buy now, pay later or put everything on a credit card without thinking about the long-term impact.
“We’re encouraging people to stay in control by making smarter spending choices, understanding their credit options, and keeping an eye on their credit report. With the right approach, it’s possible to have an amazing summer without it costing you down the line.”
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Oasis gigs costing fans £800 on average
Calculations from AJ Bell show that concert goers are spending £807 on average to see Oasis on their upcoming UK reunion tour. Tickets and accommodation are the biggest expense.
The investment company found that almost half (46%) of concert goers expect to dip in to their savings to pay for their costs, with just under two-fifths (38%) using their income.
About a third (30%) will use their credit cards and a fifth (20%) will sell down investments to fund their Oasis experience.
The band and Ticketmaster have been criticised for use of dynamic pricing when the Oasis Live ’25 tickets went on sale last year. The Competition and Markets Authority (CMA) has said it is “concerned that Ticketmaster’s approach may have misled Oasis fans”.
How to manage your cash this festival season
- Make smart credit choices: Know your repayment schedule, interest rates, and whether you can realistically afford to use credit cards or BNPL.
- Check your credit report regularly: It’s free to access your statutory credit report and it can help you stay on top of your financial health.
- Plan before you pay: Budget for festivals in advance, from travel and food to outfits and spending money. Try to avoid impulse purchases that could lead to unmanageable long-term repayments.
- Don’t ignore repayments: Missing even one repayment can damage your credit score and may lead to late fees. If you do use credit, set up direct debits to repay what you owe on time.
