Apacs: 86% young people use plastic

Apacs, the UK payments association, has revealed that 86 per cent of those aged 18 to 24 hold a plastic card of some kind.

It has published research which reveals only 37 per cent of 18 to 24-year-olds hold a credit or charge card, which compares to a national average of 66 per cent of adults.

Those in that age group who do hold such cards have an average of 1.72, compared to 2.3 for all adults.

Sandra Quinn, director of communications at Apacs, said: "Being able to manage their personal finances is one of the most important life skills a young person can acquire."

Apacs is publishing a series of consumer advice guides aimed at simplifying finances.

Credit Action, a UK debt advice charity, reports that in any one day there are 24.5 million transactions worth a total of £1.4 billion made using plastic cards.

It reports the average amount of consumer borrowing via overdrafts, credit cards and loans stood at £4,515 per British adult at the end of July.

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