Record sum spent on credit and debit cards last year
Credit and debit card spending increased to £91.5 billion, an increase of £4.9 million in the 3 months to last September as a growing number of borrowers used their cards to pay household expenses. Chris Tapp, of the debt charity, Credit Action, said retail figures were down over Christmas but credit card debt is still [...]
Re: Record sum spent on credit and debit cards last year
Personally, I think banks and financial companies have been their own enemy. It got to the stage over the last few years where they were granting allsorts, making everything hang right in the balance - now they're panicking and so is the country creating a vicious cirle scenerio. It is incrediboly bad business planning with greed taking a large part of the responsibility!
Re: Record sum spent on credit and debit cards last year
Quote:
Originally Posted by micahelm
It will go up in near future due to security and ease of use.
I wouldn't think so, it may be more secure but its no more easy to use than a debit card. And with so much debt around at the momment and increasing interest rates I can't see many people wanting more credit cards or being able to get one if they do.
Record sum spent on credit and debit cards last year
Re: Record sum spent on credit and debit cards last year
