23 September 2014 : 
Home / News / Credit card lenders to act on unsecured lending

Credit card lenders to act on unsecured lending

12 February 2010 17:01:05

Credit card lenders are set to tighten their strings. image
Credit card lenders are set to tighten their strings.
Interest rate rises and shorter introductory offers could impact on credit card customers in the coming months as a result of the unfavourable economic environment, according to Defaqto.

Speaking to the Times, the financial information company's David Black suggested that customers who will require a credit card in the near future may be best served to start looking now, as lenders begin to tighten their strings.

He said: "There is little appetite for more unsecured lending, including credit cards, among providers at the moment.

"In the coming months we will see interest rates rise, more cards with annual fees and shorter introductory offers for new customers."

A UK Cards Association study found that 6.4 million credit card customers saw their interest rates increase in the period between January and October last year.

Meanwhile, a recent Post Office poll found that 38% of people were using their credit cards to fund everyday expenses during January.ADNFCR-2196-ID-19614091-ADNFCR ADNFCR-2196-ID-19464191-ADNFCR

Compare Credit cards

Bookmark and Share

Back

All news articles

Other Credit cards News


All Credit cards News

Other Home Page News


All News Stories
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.

Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Follow Us: facebook twitter Google+

©2014 compareandsave.com is a trading name of Freedom Marketing Ltd.
Freedom Marketing Ltd is authorised and regulated by the Financial Conduct Authority, firm reference number 493117. This can be checked at http://www.fca.org.uk/register. Registered in England & Wales under registration number 05349340. The company's registered office is Freedom Marketing Limited, Colchester Centre, Hawkins Road, Colchester, Essex, United Kingdom, CO2 8JX.

Freedom Marketing Ltd is also authorised and regulated by the Financial Conduct Authority as a Credit Intermediary for all consumer credit products listed on our sites, with the exception of products from the following providers: Tesco Bank, Royal Bank of Scotland Group and Nationwide Building Society. Our CCL number is 624508/1.