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Young people 'seeking more credit'
A growing number of people are seeking to boost the amount of access they have to credit facilities, according to a new poll.
Research by Callcredit revealed that nearly one in ten adults aged between 18 and 24 have access to three or more current accounts with overdraft services.
It was also found that 27 per cent of people within that age bracket tend to approach more than three providers for such accounts, while nine per cent have overestimated their income when applying.
Graham Lund, managing director of Callcredit, said some consumers appear to be struggling with managing their finances.
He added: "Lending and borrowing responsibly to ensure affordability is vital for the recovery of the economy."
The government recently launched new measures to better protect credit card customers in the UK.
Among the new regulations are guidelines to give consumers access to better repayment plans, as well as protection from credit rate increases when in difficulty.