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UK Credit Card Borrowing Hits Two-Year High Amid Holiday Spending

1/5/2026

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Summary

Story summary

In November 2025, UK credit card borrowing rose to a near two-year high due to Christmas spending.
The Bank of England reported a £2.1 billion rise in consumer credit.
Credit card borrowing increased from £700 million to £1 billion.
Bank deposits rose by £8.1 billion, suggesting financial reorganization ahead of potential tax changes.
Speculation about tax increases did not significantly deter borrowing.

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Story summary

In November 2025, UK credit card borrowing rose to a near two-year high due to Christmas spending.
The Bank of England reported a £2.1 billion rise in consumer credit.
Credit card borrowing increased from £700 million to £1 billion.
Bank deposits rose by £8.1 billion, suggesting financial reorganization ahead of potential tax changes.
Speculation about tax increases did not significantly deter borrowing.