{"id":76044,"date":"2018-01-08T23:22:33","date_gmt":"2018-01-08T16:22:33","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-consumers-trapped-in-credit-card-debt-for-longer-than-thought\/"},"modified":"2018-01-09T00:03:21","modified_gmt":"2018-01-08T17:03:21","slug":"uk-consumers-trapped-in-credit-card-debt-for-longer-than-thought","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-consumers-trapped-in-credit-card-debt-for-longer-than-thought\/","title":{"rendered":"UK consumers trapped in credit card debt for longer than thought"},"content":{"rendered":"


\nBank of England and financial watchdog found 89% of card debt was held by consumers also in debt two years agoBritish consumers are trapped by credit card debt for longer than previously thought, according to a study by officials at the Bank of England and the City regulator, as unsecured borrowing reaches levels unseen since the financial crisis.Analysis by the Bank and the Financial Conduct Authority showed it was common for people to remain in debt even after paying off one of their credit cards, as they shift debts from one lender to another. Previously, Threadneedle Street had believed that credit cards were paid off more quickly, particularly in relation to mortgages. Continue reading…
\n
\nSource : theguardian.com
\nRead more…UK consumers trapped in credit card debt for longer than thought<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bank of England and financial watchdog found 89% of card debt was held by consumers...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-76044","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-jMw","jetpack-related-posts":[{"id":11652,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-card-borrowing-surges-to-11-year-high-in-march\/","url_meta":{"origin":76044,"position":0},"title":"Credit card borrowing surges to 11-year high in March","date":"April 29, 2016","format":false,"excerpt":"\r Debt charities to express concern as the amount of new unsecured lending to UK consumers reaches highest level 2005 The amount UK consumers owe on loans and credit cards grew by \u00a31.9bn in March, the highest figure in 11 years driven by a sharp rise in spending on plastic.Bank\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/beware-the-devils-debt-that-tempting-store-card-offered-at-the-tills\/","url_meta":{"origin":76044,"position":1},"title":"Beware \u2018the devil\u2019s debt\u2019 \u2013 that tempting store card offered at the tills","date":"July 8, 2017","format":false,"excerpt":"\r With sky-high interest rates, they are a growing problem and the number of complaints about them has tripledAs charities, consumer groups and the Bank of England worry about the threat of a growing bubble of unmanageable consumer debt, the tills at high street shops have been pinpointed as one\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50786,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-card-firms-must-be-forced-to-help-those-in-persistent-debt-nils-pratley\/","url_meta":{"origin":76044,"position":2},"title":"Credit card firms must be forced to help those in persistent debt | Nils Pratley","date":"April 3, 2017","format":false,"excerpt":"\r Forget claims of nanny-state intervention \u2013 the FCA is right to intervene to help the millions languishing under long-term debtConcerns that the credit card industry creates, and then milks, over-indebted consumers are not new. It was as long ago as 2003 that Matt Barrett, then chief executive of Barclaycard\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40378,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-a-financial-cliff-edge-how-britain-fell-back-in-love-with-credit-cards\/","url_meta":{"origin":76044,"position":3},"title":"'It's a financial cliff edge': how Britain fell back in love with credit cards","date":"January 11, 2017","format":false,"excerpt":"\r Consumers are partying like it\u2019s 2007 when it comes to credit. So how did we get to back to living on the never-never? \u2022 \u2018Debt is like fire\u2019: Marin Lewis\u2019s tips for managing your cardsFor more than half a million Britons, January provides the mother of financial hangovers. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67286,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/royal-bank-of-scotland-delays-introduction-of-low-rate-credit-card\/","url_meta":{"origin":76044,"position":4},"title":"Royal Bank of Scotland delays introduction of low-rate credit card","date":"September 24, 2017","format":false,"excerpt":"\r Chief executive says high level of consumer debt is factor in decision despite bank\u2019s shrinking share of marketRoyal Bank of Scotland has postponed plans to introduce a cut-price credit card amid concerns about the \u00a3200bn of lending amassed by UK households.The 70%-taxpayer owned bank has decided against launching a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64182,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-credit-and-debit-card-spending-%e2%80%8bgrowing%e2%80%8b-at-fastest-rate-since-2008\/","url_meta":{"origin":76044,"position":5},"title":"UK credit and debit card spending \u200bgrowing\u200b at fastest rate since 2008","date":"August 22, 2017","format":false,"excerpt":"\r 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/76044"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=76044"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/76044\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=76044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=76044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=76044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}