Credit Cards
recommended by
our experts

Get Cards
Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

UK Credit Products

Monday, October 22, 2007

Should Britons Follow the Trend of Credit Card Deal Making?

Just like in North America, customers in the UK can't imagine their everyday life without credit cards and it is quite natural. Unnatural and disturbing is the result of a research that has shown a great part of the current credit cardholders have become as such far not for the reason of necessity. They made credit card deals just to keep up with the mainstream of the modern society.

It is no wonder then that the problem of the national credit card debt is ever growing despite the numerous governmental programs aimed at educating people about credit and its traps. The research has also shown the main problem hides in the customer's uncertainty whether to apply or not.

UK financial experts are convinced that if a person is wondering whether or not he/she should make a credit card deal, it is sure to be a sign of being either unready to take on responsibility or uncertain of one's credit card solvency.

Customers are advised that if they do not feel happy about making a deal with a UK credit card, then they should give up the idea. A poll has shown that a great part of current credit card holders experienced certain regrets when they submitted the application. And the regret doubled when they found themselves holding the new smooth plastic in their hands.

The main reason for their regret and hesitation lies in the question they ask themselves: "What did I aim at, applying for this no annual fee card? What function did I assign to it and is this piece of plastic really so essential a part of my life?"

Well, if people do not find the right use for their credit card, they begin to misuse it, in other words - fund their shopping habit or maintain the expensive lifestyle, otherwise unaffordable. To make the story short, they've created the fashion of the universal payment tool and can't but follow it now.

And it is quite natural, as with a wide range and easy accessibility of such hot favorites as the Egg from Visa, the Virgin and HFC Bank GM MasterCard, you cannot avoid the craze of applying.

For such customers UK financial specialists have gathered some pieces of advice into a single guide:

  • Apply for a credit card in case of a necessity and use it for emergencies only - to pay a medical bill or a forced business trip. By all means avoid using your credit card to purchase every small item your eye catches. It will induce higher monthly repayments and create a risk of credit card debt.
  • Before making a credit card deal, first make sure that you definitely can afford making regular monthly payments. It is even more desirable that you make more than the required minimum, so it means you have to be financially ready for credit card responsibility.
  • See to it that you are not going to overspend on your credit card, otherwise you will be charged over-the-credit-limit-fees and you will lose even more money for using your plastic.

Do most UK customers understand all these peculiarities of applying and using credit cards or do they only follow the fashion they themselves have created but violated it basic principles? Credit cards are a useful tool, just like cloths, but once you apply them wrong, it may lead to a failure and even loss. That's what financial advisers say - if you follow the fashion, do it right, otherwise forget about the idea.

Share Opinion:
del.icio.us   digg   Furl   YahooMyWeb   Propeller   Reddit  
Comments not found
 

If you have something to say, please leave your comments below.

Your Name: *
Your Email:
Your Comment: *
Enter Number from Picture: * number

* - Required Fields Add Comment
[December 05, 2011]

In a time when banks have begun charging monthly debit fees, baby boomers may be able to find discounts based on their age and experience. Our research reveals some of the best checking accounts for consumers over 50 - and the best part is that they`re free!

Comments (0)
[October 12, 2011]

All data shows that the woman entrepreneur is on the rise.This could be because women tend to work well in groups and are great multi-taskers and communicators. In addition to that, women are also making riskier decisions when it comes to financing their businesses, according to a recent survey by PNC Financial Services. These decisions may have an impact on the longevity of these female-run businesses.

Comments (0)
[September 07, 2011]

With the economic upheaval, obtaining a credit card seems a distant dream, especially if you fail to qualify for any credit card application. Nonetheless, turning into an authorized user, i.e. attaching yourself with a good-quality credit customer`s account and the consent to use it, would boost your credit scores swiftly, and jump start your credit history.

Comments (0)
* The CreditCardSpecialist.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. CreditCardSpecialist.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the CreditCardSpecialist.com website are property of their respective owners.
We do our best to maintain the information accurate at CreditCardSpecialist.com. However, all the credit cards information is subject to change and presented without warranty. See the up to date credit card terms and conditions on the secured credit card application page. Note that CreditCardSpecialist.com may be compensated by credit card issuers when visitors apply for a credit card through the links on this website.
CreditCardSpecialist.com, an independent, advertising-supported website, receives compensation from the companies whose offers appear on the site. This compensation impacts where and how credit products appear on our site, including, for example, the product listing order in which they may appear on separate pages. CreditCardSpecialist.com does not present or review all available credit or financial offers.
Disclosure: Not an access card.