Net borrowing of consumer credit by UK individuals decreased to 0.9 billion GBP in May 2025, the lowest level since last April 2024 and below market expectations of 1.1 billion GBP. Within this, net borrowing through credit cards decreased to 0.1 billion GBP, from 1.2 billion GBP. Net borrowing through other forms of consumer credit (such as car dealership finance and personal loans) decreased slightly to 0.7 billion GBP, from 0.8 billion GBP. The annual growth rate for all consumer credit decreased to 6.5%, from 6.7%. Over the same period, the annual growth rate for credit card borrowing decreased to 9.2% from 9.9%, and the annual growth rate for other forms of consumer credit remained stable at 5.3%. The effective interest rate on interest-charging overdrafts decreased by 7 basis points, to 22.28% in May. The effective rate on interest-charging credit cards increased by 9 basis points, to 21.54%. The effective rate on new personal loans to individuals increased by 3 basis points, to 8.72%.