Getting into debt is an uncommon occurrence in today’s world. As the economy slowly recovers from the impact of the recession, more and more people are finding themselves subjected to tighter credit providers. This is making it harder to obtain the credit that might be required to deal with immediate debts that need to be paid.
The widespread payment protection insurance (PPI) scandal may still be in full force with thousands of claims being filed every day, but now fresh outrage has been sparked by the banks after news of rampant credit card protection mis-selling broke last week.
As a nation we love to spend, spend, and spend, with anything from the summer sales to a holiday abroad tempting us to get our wallets out.
Brits heading abroad this summer could face a collective hit of £327 million to their holiday budgets in the form of credit card fees, according to the findings of new research.
If you’re planning on a spending spree, where do you go? Do you head down your local high street or simply log on to the internet? More people are choosing online shopping over physical stores for a variety of reasons, from convenience to saving money.
Spending on debit and credit cards increased by 3.6% in April in a year-on-year comparison. The research was conducted by Barclaycard and suggests that consumers may have a renewed confidence in the UK economy.
Despite recent research revealing that 42% of consumers are turning to credit cards to stay afloat until payday, it seems that many credit card holders are still unaware of the interest rates they are paying on their borrowing.