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Credit Cards Celebrate 40th AnniversaryThursday the 29th of June marked the 40th anniversary of the credit card in Britain. Barclaycard launched its first card on June 29th 1966 to just over one million customers. Today it can claim 11. Millions Rely On Fictional Mortgage BenefitAround 3.85 million home owners believe that a non existent state benefit will enable them to keep up with mortgage repayments in the event of losing their income. Brits Swap Borrowing For SavingNew figures have shown that Britons are saving more and borrowing less. IFA Promotions' quarterly Savings Break report has revealed that Britons are borrowing ten pence for every pound saved. MPC Confident In Rate DecisionThe Bank of England was confident in its decision to hold interest rates at its last meeting. Minutes released from the monetary policy committee's (MPC) meeting on June 8th show that members voted seven to one in favour of holding rates at 4.5 per cent.
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