20 May 2005
Credit card debt for people in the UK is falling, for the first time in ten years.
April saw the level of outstanding credit card debt fall by £40 million, as cardholders finallyu began to repay more than they spent.
The British Bankers Association (BBA) also reported that levels of savings remained at a high for the second month in a row, at £3.4 billion.
This is compared with the usual figure of £2.3 billion.
Director of statistics for the BBA, David Dooks, said: "This is another indication that the consumer is being more cautious in the light of lower household disposable income. The household belt is tightening."
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