Credit card lending rose in July, BoE figures suggest

Credit card lending went up last month, new figures from the Bank of England (BoE) have suggested, which may interest those who use products such as credit cards for bad credit.

The organisation has today (September 29th) revealed that August saw a £100 million net repayment in terms of consumer credit.

This compares to the figure of £200 million which was recorded by the organisation during the previous month of 2010.

However, in relation to credit card lending in particular, the Bank also found that last month experienced a £100 million rise in such lending.

When it comes to the overall net amount of money that was provided to individuals in August, the BoE believes that lending went up by a total of £1.5 billion.

Earlier in September, the Bank also confirmed that the country's base interest rate would remain at a level of 0.5 per cent this month.

Posted by Gemma Walker.