Households’ credit card borrowing grew at the fastest annual rate since 2005 in April, according to Bank of England figures–just as a string of price rises started to hit.
The annual growth rate for all consumer credit, which includes borrowing on credit cards, overdrafts, personal loans, and car finance, increased to 5.7 percent in April from 5.2 percent in March. This was the highest rate since February 2020.
