The BBC recently reported that demand for credit cards is “feeling the strain” as UK borrowers turn to other forms of finance. It seems, they suggest, that credit cards are facing a “mid-life crisis” as people used debit cards, digital payments and payday loans instead.
The report from Price Waterhouse Coopers (which formed the basis of the reporting from the BBC) said that the number of credit cards in circulation fell for the first time in 2011. Continue reading »