Website Guide

The credit card industry has come a long way in recent years, from being a convenience item, that allowed you to purchase products without carrying cash and possibly an insurance for all items also, to a cost effective way of borrowing money.

the interest rate on older cards used to make borrowing expensive compared to say a personal loan, but such has the been the competition in recent years before the credit crunch, that within the UK, cards that offered interest free credit to pay off balances an other cards were everywhere and easy to obtain. Some us us may have applied for a credit card every 6 to 10 months or so, to keep this interest free period going. the final result is our buying habits changed and many would even buy large items such as a vehicle on their credit card, where a personal loan in the past had been the best option. Then by swapping from card to card, you were able to massively reduce the interest payments and control your monthly premium and pay off any quicker or slower depending on your choice.

But recently the credit crunch has hit and this type of borrowing has become expensive to offer and many customers are just not buying now anyway as consumer confidence is once again low. Mortgage interest rates, first went up to curb spending, but now there is pressure to reduce these rates to encourage people bank to the housing market, from which hopefully consumer confidence would regain.

There was a time that credit cards were offering many free services to get us to use their cards. Some services such as Breakdown Cover and even in some cases a discount on other insurance policies, depending on your spend limit. Although with the credit crunch less benefits are now being offered.

For many, they just wait and see where the market goes to, but for those still looking for a credit card we have a small directory of cards for you to research and compare. We do not provide any financial services, just links to them.