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Daily Mail 9 November 2009 Experts at PricewaterhouseCoopers say the moves will be necessary to cope with a 50% rise in bad debts on credit cards, expected to be close to £5bn by the end of next year. Full Article at This Is Money
Related Articles
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London: British consumers face higher rates and fees on credit cards as lenders battle rising bad debts, funding constraints and reduced appetite for borrowing, accountants PricewaterhouseCoopers (PwC) said on Monday. Full Article at livemint.com
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12:05am UK, Monday November 09, 2009 Michelle May, North of England correspondent Shoppers are set to choose cash over plastic for the first time in ten years this Christmas, according to a new report into spending habits. Full Article at Sky News
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Lewis, of Moneysavingexpert.com, said consumers should be very careful when choosing a credit card. Full Article at Daily Express
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A return to the days when credit cards were status symbols brandished by the well-off could be on the horizon, according to a report published today. Full Article at Guardian Unlimited
Related Quotes
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Lenders will be unable or unwilling to increase supply sufficiently to match demand. This will leave consumers surprised at both the cost of credit and the difficulty in gaining access to it
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This would have enormous implications for the profitability of credit cards in the UK market. Large-scale change within the sector over the next few years is inevitable
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Lenders will focus on [customers] that are the most profitable, rather than those that are in the most need of credit
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Phishers get a hold of large volumes of either cell phone numbers or e-mail addresses and they just blast out hundreds of thousands of these e-mails or texts soliciting personal information back from people
SOURCE: CBS2 Chicago
