Small companies in the UK are increasingly looking to access credit cards in an attempt to stay afloat, according to the Bank of England quarterly credit survey. Small business credit card demand has reportedly soared in the past year, even as demand for other forms of unsecured lending has slumped.
The quarterly survey by the bank occurs every year, and with property worth less secured lending has also fallen. The price of unsecured loans has soared this year, meaning credit cards may be a last recourse for many firms.
Cash flow problems are occurring for many companies hit by the credit crunch, and a business credit card can seem like the solution in this situation. However, this type of borrowing is more expensive than other forms.
Growing credit card demand from small companies
Credit Card Quote Line
0845 108 0505
Financial Services > Credit Cards > Credit Cards News
Growing credit card demand from small companies
Thu, 03 Jul 2008
Recommended links
Credit card online quoteCredit card top results
0 per cent balance transfer credit cards
0 per cent purchase credit cards
Credit card glossary
Credit card customers should stay aware of rates
Negotiate on credit card rate
| credit Card news |
|---|
| Virgin Credit Card helps holidaymakers save - Fri, 26 Jun 2009 |
| Brits reduce credit card spending - Thu, 25 Jun 2009 |
| Credit card spending on the up - Thu, 18 Jun 2009 |
| More News |
Credit Crunch Savers
HSA Dental Plan
Get covered from £7.70 per month
Income Protection Insurance
Get an instant quote with the award winning company
Amex Cash Back
Credit Card
Credit Card
Get 5% cash back on purchases with Amex
Virgin Credit Card
0% APR on balance transfers for 16 months