Crippling bill fears as credit card debt hits €1.6bn

THE massive increase in the level of credit card debt in the past three years has fuelled fears tens of thousands of people face crippling bills.

Central Bank figures show that overall credit card debt almost doubled from €884 million in late 2000 to a staggering €1.6 billion in October 2003.

The rise can be partly explained by a 40% rise in issued cards in that period - there are some 2.5 million card holders in Ireland.