Experian CreditExpert Reveals Many Relying on Credit to Fund Lifestyles

LONDON, November 24, 2010 - Experian CreditExpert is encouraging Brits to take more control of their
personal finances following the admission by millions of Brits that they are
heavily dependent on credit. This is according to the latest research by
Experian, the global information services company, which released the
research as part of Financial Planning Week (22nd - 28th November).

Despite the current economic climate and Government austerity measures,
the Experian research highlights some worrying spending habits, with over
half (51%) of 18 to 34 year olds describing their spending style as
spontaneous, adhering to the motto of 'If I see something I like, I'll buy it
straight away.'

In order to avoid this 'creditaholic' behaviour, it is important for
consumers to review their credit report regularly to help them to stay in
control of their borrowing. Most importantly, building and maintaining an
excellent credit history (www.creditexpert.co.uk/credit-history.aspx)
can help to save money in the future, because the cheapest credit deals are
often reserved for customers with the highest credit scores. CreditExpert
from Experian offers complete online access to credit reports to help monitor
the effect any spending has on credit ratings, helping customers to manage
their financial situation and ensure a positive impact on future
applications.

Other key statistics from the Experian study point to 18 to 34 year olds
as the biggest 'creditaholic' culprits, with over a third of this age bracket
(36%) admitting to using their credit cards as a financial buffer before pay
day. Adding to this, over a third (34%) of 18 to 34 year olds currently have
between GBP2,500 - GBP4,999 outstanding debts to repay including overdraft,
credit cards, store cards and loans, but excluding mortgage payments.

When it comes to the gender divide, men appear to be less financially
proactive. Men (24%) are almost three times more likely than women (9%) to
wait for at least one reminder before paying their monthly bills.

Peter Turner, Experian spokesperson said: "When applying for credit it's
incredibly important to know your limits and what you can afford. Review your
finances before you apply for new credit - work out your living expenses, go
through your statements and check your credit report (
www.creditexpert.co.uk/credit-report.aspx). This should give you a
clear idea of the size of additional repayments you can afford."

Nick Cann, CEO of the Institute of Financial Planning said: "The effects
of the rising cost of living, pay freezes and possible interest rate rises
mean it's more important than ever for people to get into good habits when it
comes to planning their finances. That's what Financial Planning Week is all
about, and useful ideas and tips such as these from Experian, are a great way
to help people take control of their money - and their lives."

Financial Planning Week aims to raise the awareness of the benefits of
Financial Planning, whether it is through some simple Financial Planning
steps or working with a professional Financial Planner. The week is run by
the Institute of Financial Planning, a not for profit professional body who
work to help people across the UK realise the importance of Financial
Planning in their lives.

Notes to Editor

All statistics are from 72 Point Research (August 2010) commissioned by
Experian. Sample size 2,000

About Experian

Experian is the leading global information services company, providing
data and analytical tools to clients in more than 90 countries. The company
helps businesses to manage credit risk, prevent fraud, target marketing
offers and automate decision making. Experian also helps individuals to check
their credit report and credit score, and protect against identity theft.

About CreditExpert.co.uk

CreditExpert.co.uk is a subscription membership priced at GBP7.99 per
month, allowing customers unlimited online access to their credit report. The
service comes with a free trial period that allows members to see and sample
the service's benefits.

    PR Contact:
    Lucy Davies
    Experian Interactive
    Cardinal Place
    6th Floor
    80 Victoria Street
    London
    SW1E 5JL
    +44(0)7759-635919

www.experianplc.com

PR Contact: Lucy Davies, Experian Interactive, Cardinal Place, 6th Floor, 80 Victoria Street, London, SW1E 5JL, +44(0)7759-635919