Those with credit card debt could be affected as banks reduce spending limits for some customers, according to Fool.co.uk.
The finance website reports that 12 per cent of credit card holders have had their limits reduced by an average of seven per cent, indicating those in debt should take action.
However, it is claimed those aged between 18 and 25 years old are three times more likely to be given an extension on their credit card, which could make debt management harder.
Head of personal finance at Fool.co.uk David Kuo explains this could send a confusing message to those looking for debt help.
“There are indications that lenders are pulling down the shutters for some customers, and holding the door open wide for others,” said Mr Kuo, adding: “What banks give with one hand they can easily take away with the other.”
The effects of reduced spending power could affect families but Engage research shows that 88 per cent of those in a relationship would cut back on their own spending so their partner could continue to be “kept in the manner to which they are accustomed”.