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Credit Market Consolidation
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The 365 Day 1p Challenge 2025 #1 £667.95/£391.55
Save £12k in 2025 #1 £12000/£120000 -
It's moot anyway, even if the UK is dominated by a big few, the fact you can get cards from the "minnows" and the fact there are still multiple providers available means that even if there is some consolidation, it doesn't stop people moving things around. New providers pop up in banking who might expand to CC.
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Many of the minnows are specialist / subprime e.g. Capital One or New Day. Bank of America (via MBNA), BNP Paribas (via Creation), Tesco plc & Sainsburys plc have or are exiting with Santander UK and TSB being unofficially up for sale too.Nasqueron said:It's moot anyway, even if the UK is dominated by a big few, the fact you can get cards from the "minnows" and the fact there are still multiple providers available means that even if there is some consolidation, it doesn't stop people moving things around. New providers pop up in banking who might expand to CC.
The only new provider of any note is Chase and there've pumped lots of $ into their UK operations and their credit card isn't even fully launched.0 -
Sure but it's still moot if you can get those cards and use them, consolidation or not, minnows or not, the fact remains there are still multiple options with firms you can switch between[Deleted User] said:
Many of the minnows are specialist / subprime e.g. Capital One or New Day. Bank of America (via MBNA), BNP Paribas (via Creation), Tesco plc & Sainsburys plc have or are exiting with Santander UK and TSB being unofficially up for sale too.Nasqueron said:It's moot anyway, even if the UK is dominated by a big few, the fact you can get cards from the "minnows" and the fact there are still multiple providers available means that even if there is some consolidation, it doesn't stop people moving things around. New providers pop up in banking who might expand to CC.
The only new provider of any note is Chase and there've pumped lots of $ into their UK operations and their credit card isn't even fully launched.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
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