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Consumers state intentions to eliminate credit card debt

Consumers state intentions to eliminate credit card debt

- Monday, 11 January 2010

People are pledging to eliminate credit card debt in the new year, according to a recent survey.

The poll of 1,016 people by lovemoney.com revealed that the number one financial priority in 2010 was clearing credit card debts, followed by a focus on savings - including the opening of an individual savings account for the new tax year.

More than a quarter of people were 'very confident' they would achieve their financial goals, and half of the respondents were 'quite confident'.

The lovemoney.com website states that for many people getting on top of their credit card debt can be a daunting prospect.

"Tackling your credit card debt can seem like you're climbing a huge mountain, but, surprisingly, it is achievable through a few simple steps," it said.

Recent research by Santander Cards estimates that 4.5 million people will transfer a total of £3.2 billion between credit cards in the first quarter of 2010, as they seek to take advantage of zero per cent introductory offers.
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