Credit Card Debt Catches Up with Britons

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00010706-credit-card-debt-catches-up-with-britons/

By Cesar G. Soriano, USA TODAY

This Christmas season, the hottest-selling gifts in Europe are pricey American products such as iPods, the Xbox 360 and celebrity-inspired fashions. That kind of shopping has led to a very American problem: credit card debt.

Nationwide, 34% of Britons say they will use credit cards or store cards to pay for their holiday purchases this year. And one in five say they are still paying off their gifts from last Christmas, according to a December poll by Zopa, an online lending agency.

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