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Credit card holders 'doing better' on repayments

New figures from America suggest credit card users are getting prompter with their repayments.

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10 March 2009

Credit card holders 'doing better' on repayments”

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Both Capital One and American Express consequently posted strong gains this week, reports Associated Press, as consumers better manage their spending and debt control.

Shares in Capital One rose more than 5% to close at $8.73 a piece on Monday, while American Express added 3.7% to its shares.

According to Transunion, the number of people lagging behind on bankcard payments by three months dropped over 10% in the last quarter of 2008 from a year ago.

The figures follow an announcement by the UK awarding body OCR this week to include a personal finance module in its business diploma to encourage youngsters to take control of their spending.

Peter Davies, OCR qualifications manager, said the decision was made in response to media reports "on the relatively low levels of knowledge and understanding of financial issues".

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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