DEBATE: Is the Asos profit warning a sign that online retailers face the same challenges as the high street? December 18, 2018 Is the Asos profit warning a sign that online retailers face the same challenges as the high street? Scott Guthrie, a digital strategy consultant, says YES. Online retailers have previously appeared immune to the hardships faced by their high street rivals. Yet there are many marketplace similarities between the two opposing business models – especially in [...]
People’s ex-partners are spending £1.2bn on shopping sprees using joint credit cards August 14, 2015 Dealing with a broken heart is bad enough – but it turns out vengeful ex-partners are leaving their former beloveds with an altogether more tangible pain, after new research found exes have racked up £1.2bn on joint credit cards. According to the study, by comparison site uSwitch, 2m people in the UK have been left [...]
Moody’s sounds alarm over rising UK credit card debt leaving consumers unprepared for interest rate rises July 16, 2015 Credit ratings agency Moody's has sounded the alarm over the rising level of UK consumer debt saying it leaves borrowers increasingly vulnerable to economic shocks. The new report on the risk of rising consumer debt in the UK, found unsecured lending such as credit cards and personal loans jumped to nearly seven per cent year-on-year [...]
Retirees becoming more reliant on credit cards and overdrafts January 12, 2015 Retired homeowners are racking up a higher level of unsecured debt, new figures show. Unsecured debt typically includes credit cars, personal loans and overdrafts. The average amount owed per head jumped to £1,546 in December 2014 from £1,336 in December 2013, according to figures released today by the Equity Release Council (EQR). December 2014’s level [...]
Credit card borrowing recovers due to more attractive deals January 8, 2015 A record proportion of credit card borrowing incurred no interest in November. Of total credit card borrowing, 43 per cent is interest-free, figures released yesterday by the British Bankers’ Association (BBA) revealed. The number of card purchases in November was six per cent higher than the same month in 2013. There were 216m purchases made with credit [...]
Regulator poised to probe UK’s £8bn overdraft market April 10, 2014 The Financial Conduct Authority (FCA) says that consumers are paying too much for overdrafts, as it publishes research it’s done into the traditionally unpopular, £8bn market. The regulator, which recently seriously bungled an announcement about an insurance products investigation, says overdrafts still don’t provide good value for money, with many people confused about costs. It’ll [...]