Скачать или смотреть Helping people take better control of credit card debt |ESRC Celebrating Impact Prize

In the UK, credit card lending has reached £65 million, with around 4 million accounts in persistent debt. Many people can only make minimum repayments each month, which can trap them in long-term debt.

Research by Professor Neil Stewart examines decision-making around credit card repayments. His analysis of large amounts of card transaction data, along with trials aimed at helping consumers, has guided the introduction of new rules by the Financial Conduct Authority (FCA) and is leading credit card companies to offer better services to their customers.

The FCA estimates these new rules will save consumers between £310 million and £1.3 billion a year in lower interest charges, helping to break the cycle of persistent credit card debt for thousands of people.

Professor Neil Stewart, Warwick Business School at the University of Warwick, is shortlisted for the ESRC Celebrating Impact Prize 2024. The Prize, now in its 12th year, is an opportunity to recognise the success of ESRC-funded researchers in achieving and enabling outstanding economic or societal impact from their research.