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Make sure credit cards are 'suitable'
26.09.2008
Consumers have been urged to ensure they are using a credit card that best meets their needs.
Michelle Slade, press and PR officer for Moneyfacts, advised people to "look at all their finances across the board".
Those with credit cards should make sure it is the best one for them and suits how they use it, Ms Slade remarked.
"So just look at all your finances and just make sure you have the best products and make savings," the expert noted.
The UK payments association Apacs recently reported that there were 1.8 billion plastic card purchases made in the UK during the second quarter of this year.
Figures from the Bank of England showed that gross credit card lending during this period totaled £32.8 billion.
Meanwhile, during the year to the end of June, outstanding credit card balances rose by £1.8 billion, the report noted.
Michelle Slade, press and PR officer for Moneyfacts, advised people to "look at all their finances across the board".
Those with credit cards should make sure it is the best one for them and suits how they use it, Ms Slade remarked.
"So just look at all your finances and just make sure you have the best products and make savings," the expert noted.
The UK payments association Apacs recently reported that there were 1.8 billion plastic card purchases made in the UK during the second quarter of this year.
Figures from the Bank of England showed that gross credit card lending during this period totaled £32.8 billion.
Meanwhile, during the year to the end of June, outstanding credit card balances rose by £1.8 billion, the report noted.