Property News · August 22, 2017

UK credit and debit card spending ​growing​ at fastest rate since 2008


New figures showing borrowing is rising more than five times faster than earnings come after warnings from Bank of England New figures show spending on credit, debit and charge cards is growing at the fastest rate since 2008, rising more than five times faster than earnings in a fresh sign of ballooning borrowing by consumers.The number of card transactions increased by 12.3% over the year to the end of June, according to banking trade body UK Finance, coming amid a boom in consumer debt that has been raising alarm bells at the Bank of England. The pace of growth in card payments was 10.6% in the 12 months to the end of December. Continue reading…

Source : theguardian.com
Read more…UK credit and debit card spending ​growing​ at fastest rate since 2008

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