The recession has not caused 25 to 34-year-olds to become more careful over credit card use, according to a new survey.
Many young Britons are still failing to reduce their reliance on credit cards, new research from PricewaterhouseCoopers (PwC) has indicated.
According to a study from the financial services giant, the 25 to 34-year-old age group is more likely than any other to have both used a credit card to buy essential household items in the last six months and applied for more credit. More than a quarter said that they had bought goods, such as food, with plastic, while a fifth said they had applied for extra credit.
"Such behaviour would appear to indicate that recent economic events have not yet influenced some people's behaviour," said PwC partner and head of consumer finance Richard Thompson. "The young are still prepared to borrow despite the tough market conditions: their behaviour has not yet caught up with the reality of the current economic situation."
PwC also found that consumer borrowing as a whole has continued to increase, although at a slower rate than before. The total level of borrowing stands just short of £1.5 trillion, with unsecured borrowing averaging roughly £8,500 per working household.
Additionally, around three in ten borrowers revealed that they were "uncertain" whether they would be able to continue repayments on their credit.
