It is not uncommon to be committed to a revolving credit when you wanted a consumer loan. How’s that going?
First of all, the days of revolving credit are over. The Bank estimates the debt of UK households under revolving credit (commonly known as a revolving loan) at £ 31.9 billion in 2008. Between July and September 2018, only £ 18.6 billion remained outstanding for this type of loan. At the end of 2019, there was a staggering increase of 3% to 19.2 billion GBP, but what explains this increase? Consumer interest or something else? Continue reading “Avoid The Pitfalls Of Revolving Credit”