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Christmas credit card spend hits £8.5bn

UK shoppers spent an average of £452 each on credit cards this Christmas, new research has found.

Almost £8.5bn has been put on credit cards over the festive period, according to a survey by price comparison company uSwitch.

Nearly a fifth of the 4,000 consumers surveyed overspent their Christmas budget and will begin 2018 trying to clear their debt, according to a report in The Guardian.

Half of shoppers said they were worried they would still be trying to clear the debt in December 2018, and one in 10 were still paying off debts dating back to last Christmas

Tashema Jackson, money expert at uSwitch.com, said: “January should be a time for looking ahead but up and down the country millions of Brits will be looking over their shoulder at the cost of their festive spending.”

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