Another debt boom?

We may face another `debt boom`, The Telegraph warns, in an article looking at recent figures about credit card debt.

Some experts, the article states, have warned that we could find ourselves in another `credit card boom`, which could `leave families heavily in debt as they borrow to make ends meet and struggle to pay off the money`.

It draws on figures provided by price comparison websites which show that some banks are providing credit cards with lengthy introductory periods - an average of 12.2 months, which is longer than we saw at the height of the previous credit boom.

Although these periods are interest free, some experts have voiced concerns that people will be tempted to build up debt on them, which they`ll then have to pay interest on once the introductory period has run out.

"Credit cards can be a very useful, convenient way of making purchases," said a debt management expert at Gregory Pennington, "and many people have successfully used balance transfers to repay their debt in a cost-effective way.

"However, anyone using a credit card needs to be very careful and make sure they don`t run up debts they can`t afford to repay."

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