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Page last updated at 02:35 GMT, Monday, 9 November 2009 The number of credit cards in circulation has actually fallen, PwC said Bad credit card debts may reach as much as 9% of all outstanding balances by the end of next year, an accountancy firm has... Full Article at BBC World
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Annual fees are likely to become the norm in the credit card industry over the next few years, as credit card providers are forced to find ways to tackle the sharp increase in bad debts. Full Article at Which
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The UK credit card market is unsustainable in its current form and heading for an unprecedented shake-up, according to PricewaterhouseCoopers (PwC), the accountancy firm. Full Article at Times Online
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Lewis, of Moneysavingexpert.com, said consumers should be very careful when choosing a credit card. Full Article at Daily Express
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
