Monday, January 16, 2012

UK Central Bank Sees Rise in Credit Card Limits

Credit card limits rose in the final three months of 2011, according to the latest Credit Conditions Survey from the Bank of England, the UK's central bank. This wasn't the only increase to appear in this Survey, which also pointed to the growth in the availability to households of unsecured credit in the final quarter of the year - growth which we can expect to see (a little) more of between now and March. The first quarter of 2012 should also see a slight increase in demand for 'other unsecured lending' (i.e. other than credit cards, where we can expect a drop). 

The predictions in the Survey aren't set in stone, of course. They're subject to developments in the economies of the UK and other countries. In fact, lenders specifically commented that potential problems in the Eurozone 'pose significant downside risks' and could work against expected growth in the availability of unsecured credit over the next three months.

The most recent figures from the Bank of England show that total credit card debt in the UK stood at £56.2 billion at the end of November 2011. At that time, a further £151.3 billion was owed in 'other' unsecured loans and advances.

The Bank of England publishes its Credit Conditions Survey every three months. Understanding 'trends and developments' in the world of credit conditions is a key part of the Bank's mission to 'maintain monetary stability and financial stability', so it surveys lenders every quarter.

It asks them what they've noticed about lending conditions over the last three months, and what they expect to see over the next three.


  1. Credit limits have to be controlled. This should be the same for long island mortgage.

  2. Hello dude, Its my real pleasure that through reading out this wonderful allocation I've come to know that UK Central Bank Sees Rise in Credit Card Limits and truly this information will be sound handy for me. Thanks |:)