Credit card number 'rises by 50%'

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More than 45% of people in Northern Ireland aged over 15 now own a credit card, a new consumer intelligence report has said.

The Mintel report said the number of credit cards issued in Northern Ireland has increased by 50% between 2001 and last year.

Julie Sloan from Mintel Ireland said consumers could have access to an estimated £1.4bn credit.

She said credit card usage was expected to rise in the run-up to Christmas.

"There is a growing body of evidence to indicate that many consumers across Northern Ireland are using credit cards to tap into a lifestyle they otherwise couldn't afford," she said.

She said the report Credit Cards: a Nation in Debt, indicated that one in five credit card users admit to buying on impulse, without thinking of the consequences.

The report found that the cost of borrowing, given the series of interest rate rises, is providing additional financial strain for borrowers.

It also said that men across Northern Ireland are more likely to own a credit card than women.

Derek Alcorn chief executive of Citizens Advice said people should use credit cards responsibly, and make sure they can pay their debts.

"This will avoid a situation whereby people are sleep walking into financial difficultly without sufficient means for repayment," he said.