Consumers shun credit after turbulent year

Cautious consumers are shunning their credit cards, with nearly half saying they will dip into their savings if they need to pay for additional expenses in the lead up to Christmas.

The latest survey of Consumer Credit Expectations from Dun & Bradstreet shows New Zealanders have adopted an unusually conservative attitude to new lines of credit or limit increases.

"Kiwi consumers have had a turbulent year and it shows in their approach to spending this Christmas. In particular, there is an unusually conservative attitude to new lines of credit or limit increases heading in to the holidays," Dun & Bradstreet general manager John Scott said.   More