Credit card balances shrink sharply as repayments outstrip new borrowing

The amounts of money owed on credit cards evaporated at the fastest annual rate in October 2020 since the coronavirus pandemic started, according to UK Finance (Philip Toscano/PA)
The amounts of money owed on credit cards evaporated at the fastest annual rate in October 2020 since the coronavirus pandemic started, according to UK Finance (Philip Toscano/PA)