credit terms

Just under half of young adults said they understand what ‘APR’ means

29th April 2026 Arrears and Recoveries | #credit terms

A survey of 2,000 UK consumers found a clear generational divide in financial literacy, with 18-24-year-olds consistently less confident and less informed than older age groups on how credit works according to research by Creditspring. Just 45% of young adults said they understand what ‘APR’ means, compared with 67% of over-55s. Fewer than half (46%)…

Majority of consumers baffled by basic terms of their credit agreements

11th April 2023 Consumer Lending | #credit terms

New research by Fairer Finance has found that the majority of consumers are baffled by the most basic terms of their credit agreements, like how much interest they’ll be charged. Fairer Finance says that to protect consumers from being hoodwinked by credit providers, the Consumer Credit Act prescribes the information a company must give consumers…

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credit terms

Just under half of young adults said they understand what ‘APR’ means

Majority of consumers baffled by basic terms of their credit agreements

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