Credit card borrowing on the decline
We've researched the top credit card comparison sites.
www.openwebshopper.com
Credit card advice on cheap credit cards, low interest cards and balance transfers.
www.creditcards.co.uk
The amount of overall credit card debt fell in August, while lending on loans and overdrafts rose, according to figures released today.
The British Bankers' Association's (BBA) August figures show that net credit card lending fell by £146 million compared to a recent average increase of £102 million.However net lending on loans and overdrafts increased by £842 million from last month, more than the average of about £500 million for the last six months.
David Dooks, BBA director of statistics, said: "Within consumer credit, cards are generally not being used to increase debt. Card spending was offset by repayments in August, so that net lending continued to be subdued.
"Structured personal loans and overdrafts were stronger than of late and there may well be some switching between different forms of borrowing."
The figures also illustrate while the amount of new borrowing on increased by 13 per cent from last month to £8.1 million, new repayments increased as well.
© Copyright
Compare all Credit Cards. Compare up to a maximum of three cards from the ... Barclaycard Platinum Credit Card with Balance Transfer. 0% interest for 15 months from ...
www.barclaycard.co.uk
Comprehensive comparison of U.K. credit card market. Also provides information for consumers.
creditcards.moneygem.com
Looking for a credit card with a fixed 9.9% APR for 5 years? Or cashback on purchases with 0% APR on balance transfers for 6 months? Apply online today!
www.co-operativebank.co.uk
Related Articles
- Chip and PIN saved UK £36m - 10th October, 2005
Chip and PIN technology has saved UK consumers an estimated £36 million, new figures reveal.
The programme said the technology had slashed fraud, including the use of lost and stolen cards and counterfeiting, by almost a third... - Credit card advice from Myvesta - 6th October, 2005
People with multiple credit cards have been advised to set up an order of payment based on their cards' interest rates.
Steve Rhode, chairman of Myvesta UK, a non-profit money management organisation, is adamant that credit card customers should add up their total payments and plan repayments on the card with the highest interest rate... - Consumers unaware of extra credit card spending - 12th October, 2005
Many British consumers underestimate how much they spend on credit cards according to latest figures.
Research from Egg Money, which provides savings accounts, shows that on average, UK consumers believe they spend £418 on credit cards each month, whereas the Datamonitor Plastic Card report 2005 has this figure at £775... - Brits putting Christmas on the plastic - 4th October, 2005
Brits are planning on borrowing to cover their Christmas spending a new survey reports.
With less than three months to go more than 25 per cent of respondents will be putting the Christmas costs on thief plastic – which means they had better ensure they have a good deal... - Nationwide launches credit card offers - 3rd October, 2005
The building society Nationwide has today released details about its new balance transfer and purchase offers for its classic and gold credit cards.
Customers will receive 4.9 per cent interest for a year on balance transfers from credit or store cards and the 0 per cent interest on purchases will increase to nine months from six months... - Look around for the best credit card deal - 5th October, 2005
Credit card customers are being urged to look around to get the best deal and potentially save themselves pounds.
New figures released by Moneyextra state that individuals who track down the best deal on finance products were able to save almost £4,000 in the third quarter of this year... - Credit card rates on the up - 4th October, 2005
A credit card provider has announced it is increasing its interest rates.
As many as nine million UK residents will be affected by the change, which is the result of Barclaycard consolidating 30 varying interest rates into only five... - Post Office launches credit card - 30th September, 2005
The Post Office has entered the credit card field by offering a "two for one" deal, allowing flexibility when paying for large purchases.
As well as being a normal credit card, the Post Office version enables customers to switch money from the credit card account to a loan-like resource, which has a discounted interest rate of 6.8 per cent... - World Cup credit card spending bonanza expected - 11th October, 2005
The English nation could spend an incredible £2 billion in support of the England team in next year's football World Cup in Germany, according to estimate figures.
The forecast from NatWest credit cards in association with MasterCard shows that 24 million people who will follow the team's fortunes during the tournament could end up spending an average of £87.26... - Credit and debit card spending falls - 13th October, 2005
Consumers in the UK reined back spending on cards in September, according to figures from Mastercard.
The public spent a total of £5.41 billion on MasterCard branded cards, which was a decrease of 3.5 per cent from August...