£ 3,695 (Excl.Tax)
Despite rising concern surrounding credit card debt and the stress that it causes, a surprising 45% of cardholders are willing to pay higher annual fees for superior rewards and benefits, highlighting a shift towards premium offerings. Concurrent with this demand for enhanced benefits is a focus on credit building, solidifying..."
£ 2,195 (Excl.Tax)
The cost of living crisis has seen many people turning to new lines of credit to make ends meet. The credit card market is now split between those prioritising rewards and paying off the full balance each month, and those seeking interest-free periods to avoid incurring high rates. Lending is..."
£ 3,695 (Excl.Tax)
A focus on credit building and openness to annual fees portends expansion at both extremes of the credit card product spectrum.
Patrick Rahlfs, Senior Research Analyst
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£ 2,195 (Excl.Tax)
Credit cards remain an important payment option for consumers, while the cost of living crisis has pushed many to use their credit card more frequently.
Natasha Hayes, Financial Services Analyst
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£ 2,195 (Excl.Tax)
“After a decline during the pandemic, credit card lending has rebounded strongly as customers feel the impact of the cost-of-living crisis. Growth will continue as consumers seek new lines of credit and access to attractive interest-free balance transfers. Use is also high amongst those in healthy financial situations, where credit..."
£ 3,695 (Excl.Tax)
“Credit card spending is making a recovery after falling to pandemic-inspired lows. The generous rewards offered by credit card companies are a major motivation for regular credit card use while prepaid and secured cards remain important gateway products. Bank branches are an important distribution channel though online methods of purchase..."
£ 3,695 (Excl.Tax)
“Although credit card rewards often hold the prime real estate of top billing in acquisition marketing, the past couple of years have seen a great deal of innovation in the benefits space, where lifestyle perks are bringing new sources of everyday utility to card products. This influx of credit-based benefits..."
£ 2,195 (Excl.Tax)
“The COVID-19 pandemic has impacted the credit card market, as reduced spending opportunities and increased savings have limited credit card use and the need for borrowing. Consumers will continue to remain wary about debt and limit credit card borrowing as the cost of living rises and household budgets are squeezed...."
£ 3,695 (Excl.Tax)
“In the aftermath of COVID-19, consumers altered spend tendencies, electing to pay down existing balances and shift credit card spend away from travel and entertainment categories towards everyday goods and services. Credit card issuers were forced to adapt, introducing new rewards categories to appeal to a pandemic-affected audience and increasing..."
