TY - JOUR
AU - MITCHELL, JEREMY
AB - There has been a rapid expansion in consumer indebtedness in the U.K. The amount of consumer debt has doubled in real terms during the last 10 years. The majority of consumers are able to cope with their debt repayments, but there are a significant number of credit casualties, often burdened with multiple debts. Credit cards have played a significant but not overwhelming part in this increase in debt. There are now 62 bank credit cards for every 100 adults in the U.K., a much higher incidence than in any other European country. Credit cards have been aggressively marketed and sold, and it is possible that they will now move downmarket, to consumers in lower income groups. This possibility highlights the need for a major consumer education campaign on the cost of credit. U.K. consumers' knowledge of and ability to compare credit interest rates is poor, especially among lower income consumers who are most at risk.
TI - Credit cards, new technology and consumer debt*
JO - International Journal of Consumer Studies
DO - 10.1111/j.1470-6431.1989.tb00025.x
DA - 1989-12-01
UR - https://www.deepdyve.com/lp/wiley/credit-cards-new-technology-and-consumer-debt-XUbvcgNfcB
SP - 293
EP - 306
VL - 13
IS - 4
DP - DeepDyve
ER -