Higher Credit Card Debt with women who have pms

An interesting study by Karen Pine at the Herfordshire University has shown that when women experience impulse buys its usually during that time of the month that women menstruate. Women on average (sample of 400) overspent by up to £250 during this phase. Now this is a another example of a study that has been commissioned that doesn’t really warrant the money spent on it.

Credit Card debt is currently a very hot topic at the moment and I am sure there are many more reasons why women or even men are overspending on their cards at the moment. Statistics actually show that over the last 2 months the amount of debt that has been paid back into credit cards has increased dramatically. The amount of savings has also increase so it is evident that people are trying to reduce their debt were ever they can.

Going back to the buying habits of women it has however been suggeste dthat if you do all of a sudden feel the urge to pop out and buy something you don’t need then rather opt for a swim or go for a run. Great advice don’t you think.

The typical household carries about £10,000 of unsecured credit card debt, this accotding to Credit Action.

How we use our Credit Cards in the UK

Here are some stats reflecting on how consumers have used their credit cards during 2006 and 2007 and some more up to date statistics for 2008.

• In 2007 there 67.3  million credit card issued
• The number if personal credit and charge card holder actually fell to about 30 million which represents about 62% of the adult population in the UK.
• The average number of credit cards per per person was 2.4 with 1.6 for debit cards
• Spending on Credit Cards in 2006 in the UK amounted to £133.2 billion
• The internet has seen a four fold rise in card payments over the last 5 years.
• The average transaction value on credit cards in the UK  was £63.22

Statistical Release

Annual figures (end – 2008)

• Number of UK-issued debit cards                                      75mill
• Number of debit card holders                                             42.1 mill
• Number of debit card purchases in the UK                    5.5bn
• Number of cash machine withdrawls                               2.9bn
• Number of cheque transactions                                         1.4bn
• Number of automated payments                                       6.0bn
• Number of UK-issued credit & debit charge cards     71.3mill
• Numbet of credit card holders                                            30.2mill
• Number of Faster payments                                                 82.8mill