Attitudes towards debt on credit cards began to change long before the financial crisis, according to The UK Cards Association.
In a new report, the trade body tracks the shift in spending and borrowing on plastic from 2000 through 2010, labelling the period “a decade of two halves”.
From 2000 to 2005, banks and other lenders recorded strong growth across all forms of card use in the UK, followed by a “sharp retrenchment” thereafter in the use of credit cards.
Prepaid debit cards are the new celebrity fragrance. In the past two years ago, we've seen stars like the Kardashian sisters, Suze Orman, Russel Simmons, and George Lopez all plaster their faces on plastic.