In terms of overdrafts, the credit crunch began in 2005. After the big spending christmas of 2005, banks started to pull away from unsecured personal credit and concentrate on housing loans.Recently, the trend has accelerated. Since last summer, the stock of outstanding personal overdrafts has fallen in sterling terms.
5 comments:
So the bank wasn't just picking on me when they refused to extend my overdraft!
Falling overdraft levels - not surprising given bank interest rates and charges.
The lower the better.
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