UK Consumers Having Trouble Paying Card Debts: Survey

Published October 07, 2008, 1:00 a.m. EDT

|

Updated October 07, 2008, 12:00 a.m. EDT

1 Min Read

IMGCAP(1)]

Processing Content

Some 4 million credit card users in the United Kingdom, or about 9% of adult consumers in the region, missed at least one credit card payment between March and September, suggest survey data from MoneyExpert.com. The UK-based financial-comparison Web site is basing its findings on the results of an online survey of 2,157 consumers conducted in September. The survey sought data about all types of missed payments, including mortgages, credit cards and personal loans. The findings suggest that credit cards are "proving to be the greatest burden to struggling borrowers" as the economy worsens in the UK, MoneyExpert says in a statement.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Commercial banking

Domino effect: How Iran war impacts farms, transport and banks

As gas prices surge, small businesses — particularly in agriculture and transportation — have struggled to keep up. For banks, this has brought a combination of short-term benefits and long-term concerns.

By Nathan Place
National Reporter

7h ago
CHIME

Chime hits GAAP profitability in Q1

The neobank reported a 25% year-over-year increase in revenue for the quarter ended March 31, with active users jumping 19% to 10.2 million. The company also raised its full-year 2026 guidance and authorized a $200 million share repurchase program.

By Joey Pizzolato
Reporter

7h ago
Digital banking

Erebor Bank hits $1.1 billion in deposits in 7 weeks

The newly opened bank founded by big tech executives reached the deposit milestone within its first quarter of operations, according to a recent call report.

By Melinda Huspen
Tech Reporter

8h ago
U.S. Bank

Why US Bank built its own BNPL program

Banks are mixed in their adoption of buy now/pay later and installment lending, according to American Banker research. Those that offer or are planning to offer it say that the primary motivating factor is to stay competitive.

By Joey Pizzolato
Reporter

9h ago
Agentic Commerce

Where AI in banking is running into roadblocks

Citi payments exec Driss Temsamani said there's more work needed to bridge gaps to enable artificial intelligence to work broadly for payments and finance.

By John Adams
Executive Editor, Payments

11h ago
Citi

4 areas to watch as Citi lays out its multiyear blueprint

On Thursday, Citi will hold its first investor day in four years. The megabank, which has undergone substantial change under CEO Jane Fraser, is expected to share its strategy for driving higher profitability, deploying AI and ramping up shareholder returns.

By Allissa Kline
Reporter

11h ago

Load More