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Credit card comparisons 'always important'

Credit card comparisons 'always important'

Category: Credit cards

Updated: 09/02/2009
First Published: 09/02/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Consumers have been advised to carry out a credit card comparison in order to find the best interest rate available.

According to the Consumer Credit Counselling Service, doing so is always important in order for borrowers to reduce the amount of money they are spending.

A spokesman for the charity noted that government regulations mean credit providers are currently being "squeezed from every angle", leading to high interest rates in many cases.

But he added that this should not stop customers from seeking the best deal, stating: "People should always shop around, as often we end up sticking with the same provider when we could perhaps find a more advantageous rate elsewhere."

The spokesman's comments follow research by Axa, which showed that 3.8 million people now believe that their credit card bills are too much to cope with.

In addition 1.3 million people surveyed described their financial position as "out of control".

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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