Industry Analysis & Industry Trends
The Credit Card Issuance industry has suffered over the past five years as the debt binge of the early to mid-2000s gave way to a debt purge. The first few years that followed the financial crisis were characterised by consumers cutting back on debt and increasing savings. When the crisis hit, lenders increased their credit standards amid scarce access to funding, while credit card customers sought to deleverage from record private-sector debt levels.
Credit cards on issue fell from 64.4 million at the end of 2013 to 59 million at the end of 2015. However, since the end of 2015, both the number of credits cards on issue and the amount of debt outstanding are expected to have increased. However, both are expected to remain below the pre-downturn peak, which reached 69.6... purchase to read more
Industry Report - Industry Locations Chapter
With the major banks being the biggest credit card issuers in the United Kingdom, the geographic spread of the industry's establishments is closely correlated with the dispersion of bank branches. This dispersion reflects the spread of the population and its density. Having establishments in densely populated areas allows credit card issuers to have a physical presence near a large pool of their customers, allowing them easy access to their products and services. The industry is becoming more centralised, however, as communication technology improves and consumers get comfortable dealing with financial-service providers remotely rather than face-to-face.
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