A report from Mintel, the research group, shows that Britons own more than 60 per cent of the 100 million credit cards issued across the European Union.
Mintel said that Britons were "undoubtedly the most comfortable when it comes to owning plastic cards," a feeling that had lead many households into a trap of huge debt.
There are more than 450 million plastic cards in circulation across the 15 EU member states and UK consumers are by far the most conversant users of credit cards, accounting for more than 60% of the total market alone. While in France the number of cards in issue is relatively low. In contrast to the French, German consumers own an above-average number of plastic cards yet below-average card usage. Whereas in Italy the market has been inhibited by consumers' traditional strong attachment to cash and a relatively debt-averse nature. Spanish consumers subscriber to a wide variety of cards but appear reticent to use them at the point of sale.