Cards and Consumer Finance in the United Kingdom 2008

Lafferty Cards & Consumer Finance in the United Kingdom 2008

Introduction

Lafferty Cards & Consumer Finance in the United Kingdom 2008 is the most comprehensive research available on consumer finance and credit cards in the market. A mixture of quantitative and qualitative methods is used by a dedicated team of in-house researchers and analysts to produce accurate and unbiased data. It comprises of 11 sections: key facts, demographics, the economy, consumer credit market, cards market, credit cards profit pool, pricing and enhancements, networks, credit cards issuers, merchant acquiring & processing and other cards market information. The report is reader friendly through the use of a bullet point format and graphs, pie charts and tables to help illustrate key data. Industry experts are always on hand to talk you through any data queries.

Highlights Although the UK is the most developed cards market in Western Europe, it has recently experienced problems.

Profits have fallen as loss rates have increased, and there have been limited growth opportunities as consumers have been moving from credit cards to cheaper lending products and have reduced card spending.

Consumer debt levels have remained high, fuelled by mortgage lending and secured loans.

Given limited growth opportunities in the contracting lending market most issuers are now focusing on increasing credit card usage for everyday purchases through various loyalty and rewards programmes and innovative products.
Although price competition, such as zero percent balance transfers, is still an important competition tool in the market, the market has recently moved to greater emphasis on customer retention and improving customer services.