Rise in credit card default rate adds to concerns over household finances

Default rates ‘increased significantly’ between April and June, Bank of England says, adding it expects availability of credit to fall in coming monthsThe number of people defaulting on their credit card bills and personal loans jumped in the three months to the end of June, according the Bank of England, underlining the pressure on household budgets as prices rise faster than wages.Default rates “increased significantly” between April and June, and lenders expect rates t