KEY POINTS:
Fears of more debt and a need to turn to credit cards to cover otherwise unaffordable expenses are widespread.
The Dun & Bradstreet Consumer Credit Expectations Survey found nearly a quarter (24 per cent) of the 925 adults surveyed nationally expect to have higher debt in three months.
Twenty-eight per cent of those earning less than $50,000 a year have greater expectations of increased debt than those earning more (19 per cent).
The survey also found families with children and people under 50 are showing the greatest signs of problematic credit card use, with 31 and 28 per cent respectively indicating an intention to turn to credit cards to pay for items they could not otherwise afford.
Those earning less than $30,000 and those with children have the highest expectations of missed bill payments in the September quarter, at 9 per cent.
The survey also found credit demand remained strong, particularly for those aged 18 to 34, with 23 per cent expecting to have to apply for a new credit facility or a credit limit increase in the coming three months.
"The survey results provide a clear indication that New Zealanders are really beginning to feel the pressure of changed credit conditions, high interest rates and continually escalating petrol, food and energy prices," said D&B New Zealand general manager John Scott.
"The survey also reveals that a gap is developing between different segments of the community. Problematic credit card use and missed payments by families with children and low income earners show the tough conditions are hurting the hip pockets of some demographics more significantly than others."
