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01/03/2002
Credit card spending slows as mortgage demand grows
Consumer borrowing slowed in January due to more moderate credit card spending after Christmas.
Total lending to individuals, including mortgages, bank loans and credit card spending, grew by £6.9 billion in January, £200 million less than in December.
Credit card spending and overdraft borrowing expanded by £1.6 billion, down from £2.1 billion in December.
But mortgage demand remained strong, growing by £5.3 billion in January compared to just £4.9 billion in December.
The weaker figures follow a record rise in consumer borrowing in December, when total lending to individuals posted its biggest monthly increase since records began in 1993.
The sharp increase in borrowing that month sparked speculation that consumer credit growth was reaching unsustainable levels, provoking speculation that the Bank of England may raise interest rates early this year.
Credit card spending for January totalled £7.6 billion, just below £7.7 billion in debit card purchases. (GB)
Total lending to individuals, including mortgages, bank loans and credit card spending, grew by £6.9 billion in January, £200 million less than in December.
Credit card spending and overdraft borrowing expanded by £1.6 billion, down from £2.1 billion in December.
But mortgage demand remained strong, growing by £5.3 billion in January compared to just £4.9 billion in December.
The weaker figures follow a record rise in consumer borrowing in December, when total lending to individuals posted its biggest monthly increase since records began in 1993.
The sharp increase in borrowing that month sparked speculation that consumer credit growth was reaching unsustainable levels, provoking speculation that the Bank of England may raise interest rates early this year.
Credit card spending for January totalled £7.6 billion, just below £7.7 billion in debit card purchases. (GB)
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UK High Street sales boom fizzles out
The High Street spending boom has begun to slow down, with shoppers apparently struggling with large credit card bills, following the record Christmas and New Year spending spree, the latest retail figures have shown. According to figures from the Office for National Statistics, retail sales volumes grew by 0.1% in March.
UK High Street sales boom fizzles out
The High Street spending boom has begun to slow down, with shoppers apparently struggling with large credit card bills, following the record Christmas and New Year spending spree, the latest retail figures have shown. According to figures from the Office for National Statistics, retail sales volumes grew by 0.1% in March.
04 February 2005
Credit card firms called on to offer 'fairer deals'
A report by the Treasury Select Committee (TSC) has called on credit card firms to improve the clarity of information and offer fairer deals to their customers. The TSC's new report into the UK credit card market is the second to be issued during the two years the committee has spent investigating the industry.
Credit card firms called on to offer 'fairer deals'
A report by the Treasury Select Committee (TSC) has called on credit card firms to improve the clarity of information and offer fairer deals to their customers. The TSC's new report into the UK credit card market is the second to be issued during the two years the committee has spent investigating the industry.
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Bank Rate Decisions 'Good And Bad' For NI
News that the Bank of England's Monetary Policy Committee this week voted to maintain the official bank rate paid on commercial bank reserves at 0.5% has been greeted as a 'curate's egg' by a local economist. The previous change in the rate was a reduction of 0.5 percentage points to 0.
Bank Rate Decisions 'Good And Bad' For NI
News that the Bank of England's Monetary Policy Committee this week voted to maintain the official bank rate paid on commercial bank reserves at 0.5% has been greeted as a 'curate's egg' by a local economist. The previous change in the rate was a reduction of 0.5 percentage points to 0.
12 November 2004
Credit card statements set to carry 'health warning'
Credit cards users will get a 'health warning' on their statements to help with their repayment plans under new guidelines to be introduced into the Banking Code, it has emerged today.
Credit card statements set to carry 'health warning'
Credit cards users will get a 'health warning' on their statements to help with their repayment plans under new guidelines to be introduced into the Banking Code, it has emerged today.
21 August 2001
EasyJet founder to launch new credit card
The founder of the low cost airline Easyjet, Stelios Haji-Ionnou is to introduce a new credit card called Easymoney. The credit card is expected to differ from other card’s as customers will be able to personalise their credit conditions by choosing between different deals.
EasyJet founder to launch new credit card
The founder of the low cost airline Easyjet, Stelios Haji-Ionnou is to introduce a new credit card called Easymoney. The credit card is expected to differ from other card’s as customers will be able to personalise their credit conditions by choosing between different deals.
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