CCR Magazine

You are here  :Home arrow News arrow StepChange Debt Charity response to Bank of England credit card lending figures
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
StepChange Debt Charity response to Bank of England credit card lending figures PDF Print E-mail
Thursday, 01 June 2017
In response to Bank of England figures released today that show credit card borrowing growing at its fastest rate since 2006, Mike O’Connor, Chief Executive of StepChange Debt Charity, said:  “There are 3.3 million people already in persistent credit card debt. With the nation’s credit card bill growing rapidly, we can expect many more people to find themselves struggling in the future. 

“Credit cards are designed to be a short-term product, but for many people they have become an expensive, long-term form of borrowing.

“As lending continues to grow strongly two things must be addressed. What can be done to help borrowers who fall into persistent credit card debt? And, critically, what are the product features of credit cards that need to change to stop them trapping so many people in unaffordable, long-term and persistent debt? It is not clear that the Financial Conduct Authority’s current proposals sufficiently answer these questions”.
 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197