Default rate on UK credit card debt at highest for two years

Anti-poverty campaigners say more low-income households are getting into serious financial difficulties. The number of people defaulting on their credit card debts soared in the first three months of the year, according to figures from the Bank of England. Credit card lenders reported that defaults jumped to their highest level since the first half of 2017, following a deteriorating trend that dates back to last summer.

Source: The Guardian
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