Credit Crunch Hitting Affiliates?

Last September I blogged over on our personal finances site about Barclaycard rejecting over half of all new credit card applications.

Well, an article in yesterdays Telegraph covering Provident Finance included an interesting little snippet. Provident offer the Vanquis card and the report indicated that approx 75% of card applications are rejected.

With numerous reports of increases in rejections for mortgages and personal loans it’s obvious that the credit crunch must be having an adverse knock-on effect within our industry too. Pundits predict that there’s more nasty medicine to come.