Category: Credit Cards

Consumer Loan Provider LendUp Has Given Out More Than $2 Billion In Loans

This marks an important milestone for the lender, which has been on a growth trajectory since opening doors to the public in 2012. LendUp is offering financial education and affordable loans to its customers in an effort to increase the financial inclusivity of the American middle class. More than $2 billion has been given out […]

Holiday Spending Catches Up With Britons As Many Resort To Expensive Payday Loans

Around 33% of Britons say they may have spent more than their affordability over the holiday season. Many are now considering opting for expensive credit options to cover everyday expenses. Access to short-term credit has become limited due to stricter rules governing credit card debt in the UK. The exorbitant spending of Christmas holidays was […]

Thousands Of Credit Card Users In UK Face Account Closures As FCA Deadline Expires In February

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New Program Aims To Make 11.5 Million Britons Regular Savers By 2030

The program, being launched by Money and Pensions Service (MaPS), aims to improve the financial well-being of millions in the country. The program includes an increased focus on school financial literacy programs and greater access to financial advisory services. Additional funding for the program is expected to come from partners such as banks, corporations, and […]

Credit Card Customers In The UK To Increase Borrowing In Q1 2020

Bank of England data shows credit card customers are set to increase consumption this quarter. At the same time, large firms will continue to decrease borrowing. Mortgage debt is also experiencing a falling demand in the UK. According to an analysis made by the Bank of England, it is likely that credit card customers in […]

Credit Cards Won’t Be Accepted For Gambling In The UK After April 2020

A recent ban implemented by the government in the UK has disallowed the use of credit cards for the purpose of gambling after the 14th of April, 2020. The ban is meant to protect credit card holders from acquiring too much debt through gambling. The ban would be implemented on the business end, whereby businesses […]

40% Of Millennials Are Hopeful They Can Get Rid Of All Outstanding Debt By 2025, Study Finds

A poll has revealed that 40% of all millennials feel they are in a good position to eliminate all debt by the mid of this decade. The average millennial is carrying a debt of around $27,900, excluding any amount owed on mortgage loans. A recent poll conducted by through YouGov, with over 2,600 adults […]

Reduced Consumer Borrowing Results In The First Decline In Credit Card Debt Since 2013

The monthly growth rate of credit card debt fell to the lowest point in November 2019, to 5.7%, in seven years. The slowdown in borrowing has resulted due to concerns surrounding the impact of Brexit on the UK economy, and new rules implemented by the UK financial watchdog. After 7 years, the financial condition of […]

Banks Refuse To Reduce Credit Card Charges, Even Though Americans Are Now Over $1 Trillion In Debt

Credit card debt in America is at a record high, having crossed the $1 trillion mark. The interest rate and other fees being charged on credit cards have increased this year. Even though the Federal government has imposed cuts on charges and fees three times this year, the resulting rates and fees are still higher […]

FCA Sets New Rules In The UK, And You Might Lose Your Credit Cards Because Of Them. Here Are The Details!

Thousands of people in the UK are at risk of losing the credit cards due to new rules pertaining to affordability, as set by the Financial Conduct Authority. The changes are expected to take place at the start of the new year. Last year, the regulatory authority had mandated all credit card providers operating within […]