Major new research by the Citizens Advice service finds that nearly 1 in 5 people struggling with debts have had their credit card limit raised without them requesting it - a practice the charity would like to see banned.
After the Bank of England issued a warning to lenders about how they are granting credit to consumers, leading local advice charity, Citizens Advice Exeter, says poor affordability checks by firms are making people’s financial situation worse.
Consumer borrowing has risen to over £200 billion and over a third of this - £67 billion - is on credit cards....