Record credit card debt

CREDIT card debts have soared to a record high after British households embarked on a dangerous borrowing binge.

The Bank of England said shoppers put another £641m on their credit cards last month – or more than £21m a day and the most since May last year. Families owe £69.4bn on credit cards – the highest amount on record. The bout of borrowing has fuelled fears that millions of people are struggling to make ends meet and are turning to their credit cards to get by.

Peter Tutton, from the StepChange Debt Charity, said more households were ‘at risk of falling behind their everyday bills and becoming trapped in spiralling problem debt’.