News : Prepaid Credit Card UK

Youngsters Still Hooked On Credit Cards

Sunday 25th May 2008

As more and more people continue to suffer from growing debt, an inability to cover their repayments and possible job cuts in the economy it seems that the young of the UK are still hooked on finance. A recent report has shown that while many continue to suffer in the UK, more and more young adults leaving education and moving into employment are intent on using credit cards to finance their life styles.

While many of the older generation have been stung pretty hard by the recent credit crunch it seems that a new wave of credit card users is literally just around the corner. However, there are concerns that many may not be able to control their spending when the day comes, although more and more banks will be lining up to catch the customers of the future.

We may be about to see a similar situation to that which many students have experienced over the last few years, attractive terms for student loans until they leave education. Many banks have been known to target students and those about to join the employment market, knowing that if they over stretch themselves in the first few years they could end up tied to the bank for ‘life’.

Source: http://financialadvice.co.uk/