Consumer Borrowing Over £ 1bn
Consumer borrowing leapt up from £655m to £1.1bn between June and July, Bank of England figures have revealed. Borrowing on credit cards doubled over the month. Some have speculated this demonstrates a rise in consumer confidence, whilst others have cited it as indicative of the public’s need to borrow money to cover their costs. A… Continue reading..
4 Ways to Solve Credit Card Debt
Once you have built up your credit card debt, you may find it hard to handle the bills which come through your door and may be wondering how you will ever solve your credit card debt problem. There is help out there though, and following the following tips may mean that you can solve your… Continue reading..
4 Tips for Avoiding Credit Card Debt
Although getting yourself into debt is not recommended, sometimes having credit and using it wisely is good practice. For example, many of us choose to buy items online with our credit cards as it offers us additional levels of protection over a debit card. However, it can be easy to mismanage your credit card, so… Continue reading..
Credit Card Debt Management
Credit cards can often be the reason why many people’s debt spirals out of control. According to Credit Action, the average interest rate on credit card lending stood at 17.6%. But this is the average, and many people have credit cards with much a higher interest rate. Bearing high interest rates and potential missed credit… Continue reading..
Credit Card Debt as 0% Deals Scarce
The amount of credit card debt could be on the rise, as Abbey reveal new statistics showing that two thirds of us who had planned to get accepted for a 0% introductory rate credit card to transfer credit card debt, failed to do so this January. The report goes on to reveal that only a… Continue reading..
‘Cut’ Credit Card Debt
Over the past year, almost two million Brits have ‘cut’ credit card debt, quite literally, by cutting up their credit cards in order to avoid getting into unaffordable debt with their credit card provider. Apparently 6% of the £52 billion credit-card market has taken the initiative to cut up their plastic credit cards to avoid… Continue reading..
Student Credit Card Debt
Although students may get a student loan through their local authority to help them fund their education, this may not be enough as more students are racking up credit card debt. The average student now owes over £220 on their credit card, and females are the worst culprits for getting into debt. According to research… Continue reading..
Afford Credit Card Debt in 3 Easy Ways
Due to current financial circumstances, it is becoming harder and harder to find cheap deals in order to switch around your credit card debt once introductory offers have come to an end. Coupled with the rise of cost of living, it is becoming harder to clear credit card debt. But there are easy ways that… Continue reading..
Are YOU a Victim of the Credit Card Debt Trap?
Does it feel as though you are caught in a trap of credit card debt? And no matter what credit card debt repayments you make, your balance seems to go down? You could be a victim of the credit card debt trap thanks to the ‘negative order of payment’ method employed by many credit card… Continue reading..
Credit Card Debt: Pay More than the Minimum
Those with high levels of credit card debt should pay off more than the minimum payments so they can focus on becoming debt free as quickly as possible. Lisa Bachelor, consumer affairs correspondent at the Observer newspaper, advises consumers with credit card debt to focus on paying this debt off as credit card lenders seem… Continue reading..
Credit Card Debt to be Restricted
The Government aim to stop people getting into further credit card debt by stopping credit card companies from raising unrequested credit card limits, and to ban the sending out unsolicited credit card cheques. Credit card cheques may mean that their customers get into further credit card debt as these often carry a higher charge than… Continue reading..
UK Credit Card Debt Management
UK Credit card debt management is a problem for 4.8million people who have experienced increases in the amount of money they owe to their credit card debt, according to Tesco Compare. The outstanding credit card debt balance has increased by an average of £412, meaning that more people are worried about getting their UK credit… Continue reading..
Debt Repayment Problem for Tenth of UK
As debt becomes a great burden for more people throughout the UK, almost tenth of British borrowers have missed repayments to one or more of their debts. As economic problems hit home, it seems that more and more people are having problems controlling their debt management issues. According to MoneyExpert, almost 11% of people with… Continue reading..
In Credit Card Debt for 93 Years
It could take you up to 93 years to repay your credit card debt, according to statistics from a debt help charity which takes into account the average level of credit card debt that many UK consumers are faced with when seeking debt advice. Citizens Advice believe that our credit card debt is much higher… Continue reading..
Credit Card Debt Should Be Avoided
Although this may seem like an obvious statement for most, credit card debt should be avoided as we are urged to not “fall back” on credit cards if we are unable to get your loan application accepted in the current economic climate. The recommendation is to avoid credit card debt all together by living below… Continue reading..
Credit Card Debts Fueled by Shoporexics
Credit card debts are being fueled shopping addicts (dubbed “shoporexics” by financial firm Kensington). Apparently this addiction is wide spread, even though the credit crunch has made it increasingly difficult to get accepted for loans or credit cards. Being a sufferer of Shoporexia is characterised by an intense reoccurring desire to purchase unnecessary goods, regardless… Continue reading..
Credit Card Debt Harder to Repay
Are you struggling with your credit card debt? If so, then you are not the only one. More people are finding that their credit card debt is harder to repay, and recent figures from the International Monetary Fund predict that 7% of all personal debt in Europe (totalling $2,467 billion) will be defaulted on. Many… Continue reading..
UK Credit Card Debts
Credit cards debt are one of the most common causes of UK debt problems. As a country, Britain has more credit card borrowers than any other European country. Credit card debt is a growing problem, both in the UK and across the globe. There are a number of reason why it is easy to fall… Continue reading..
Credit Card Debt: Pay Off The Most Expensive Debt
Confused.com are advising credit card holders to treat their credit card debt as a priority debt and ensure that it gets paid off as quickly as possible. This is because credit card debt is often the most expensive form of personal debt, meaning that it often incurs the highest rate of interest in comparison to… Continue reading..
Are Store Cards the Same as Credit Cards?
Many High Street shops offer their own store credit cards, and many cashiers will tempt you to sign up with a juicy introductory rate or money off your purchase. But are store credit cards worth it, or would you be best off making the purchase on your normal credit card? Store credit cards work in… Continue reading..