Figures released from the Bank of England have revealed that credit card lending in April has seen the largest fall since August 2006. These latest figures come as no surprise as credit card borrowing has decreased in four of the last six months.
The report detailed that repayments outstripped new borrowing by £118 million and the total lending to individuals rose by £1.4 billion.
Critics have commented that families are exhibiting a more careful approach to lending in the current economic climate. ...Continue Reading →