How do consumers manage their debts going forward? This is a very tricky balancing act to get right. The reason it is tricky is because we face very complex cross currents. Read the rest of this entry »
Archive for category Credit Crunch
Credit card use declining?
Jun 23
It was reported early 2009 that UK consumers were turning away from credit card spending in the heat of the economic downturn.
This is one birthday party that no one wants to attend; it is just over a year ago now that most people in the U.K. were spiralled into the web of deceit that brought down banks and bankers alike. I remember commenting 2 years ago that something was afoot when Citi-Bank wrote to me, and told me that they were cutting my credit limit whilst blaming it onto me. I knew I hadn’t done anything wrong as I always used to pay my credit bills on time every month. 12 months later the world, never mind the U.K., woke up to find out the truth.