Warning for Credit Card Holders in UK After Worrying New Report - Birmingham Live

Warning for credit card holders in UK after worrying new report - Birmingham Live

A Bank of England report showed that the annual growth rate for consumer credit edged up to 8.1% in November, from 7.5% in the previous month.

Credit card borrowing grows at fastest annual rate in nearly two years

The rise in consumer credit borrowing may be a reflection of everyday costs becoming harder to manage without turning to credit, a charity said. Credit card borrowing grew at the fastest annual rate in nearly two years in the run-up to Christmas, fuelling concerns that everyday costs are becoming harder for some households to manage without turning to borrowing. A Bank of England report showed that the annual growth rate for consumer credit edge…

UK Households Tap the Plastic As Credit Card Borrowing Hits Alarming Levels

The cost of living squeeze in the UK is showing up where it hurts most - in credit card bills. Recent figures reveal that UK households are borrowing on their cards at the fastest annual rate in nearly two years, raising concerns that many families are relying on debt just to make ends meet.

Credit card spending surges ahead of Christmas as households lean on borrowing

Britons turned to their credit cards at the fastest pace in almost two years in the run-up to Christmas and November’s Budget, even as signs emerged that households were becoming more cautious elsewhere. Data from the Bank of England shows that outstanding credit card balances rose to nearly £78bn in November, up 12.1 per cent on the same month last year. It marked the sharpest annual increase since early 2024 and underlined the pressure many ho…

Brits borrowed more despite Budget unease

British consumers took out more in credit over November than expected despite suggestions that Budget speculation would have held people back from taking risks, official data has shown.  Economists widely predicted that weeks of speculation over tax rises dampened consumer sentiment and prevented people from borrowing more.  But the Bank of England has revealed that there was a rise in consumer credit to £2.1bn, compared to £1.7bn in October.  B…