Credit, Collections & Insolvency News
New research by MoneySuperMarket finds Gen Z are some of Britain’s savviest credit card users, confidently using them as a tool to manage spending and reach long-term personal finance goals. Despite being a form of payment thought to be declining in popularity among young adults, well over half (59%) of 18–24-year-olds own one. Moneysupermarket said ,…
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Latest Bank of England data has shown that October saw a surge in credit card borrowing. Consumers borrowed a net additional £706 million last month, with new credit card borrowing accounting for £637 million of the credit, the largest amount of card borrowing since July last year. Between the start of the pandemic and April…
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New research by Buy Now Pay Later (BNPL) platform, Butter, has revealed how the emergence of the BNPL sector has already led to a decline in credit card transactions, as more and more consumers opt for this modern method of payment. The research shows that the BNPL space has expanded dramatically in a very short…
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Latest card spending figures from global analytics software provider FICO has indicated that the summer holidays and continued reliance on pandemic savings probably contributed to a growth in average spending on cards. The analysis shows that the average spend on credit cards increased £23 to £711 in August 2021. This is the highest level since…
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