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Britain s transition into a nation of accidental savers last year certainly had an impact on its credit card bill.
Those with extra disposable income and nowhere to spend it as a result of the lockdown opted to pay down their debts and fatten their bank balances, where once the nation eschewed a savings habit.
Britain owed £58.4billion on credit cards at the end of 2020, according to the Bank of England, down 16.2 per cent from the end of 2019, after billions of pounds were paid off balances last year.
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