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Credit card addicts continue to defy credit crunch
Whilst many people have had to tighten their belts and cut back on spending due to the turmoil caused by the global credit crunch and tighter lending conditions, it seems that many credit card addicts are not only continuing to spend and accrue debt during these difficult times, but are also juggling five or more credit cards. A recent report suggests that over three million Brits have five or more cards, and in some cases are clocking up debt on all of their cards as they continue to frivolously spend.
Popularity: 19% [?]
Egg’s actions could benefit some borrowers
The recent decision of the online lending giant Egg could actually benefit some customers according to a recent report, enabling them to prove their creditworthiness as a result of having their account closed. Egg recently announced that around 161,000 would have their credit card accounts closed, claiming that those affected were people whose credit profiles had deteriorated since they opened their credit card accounts.
Popularity: 48% [?]
Many Brits overspent in 2007
Worrying data from a recent report suggests that last year over five million Brits ended up spending more than they earned, with some officials branding Britain a nation of spendaholics. The reports suggests that the spending of many Brits spiralled out of control last year, with a worrying number of people spending far more than they could afford to, often on unnecessary items and luxuries.
Popularity: 47% [?]