Credit card users ‘looking for better deals’

Credit card users around the UK are increasingly looking to secure themselves a better deal on plastic borrowing, it has been suggested.

According to the customer experience assessment firm Global Reviews, the increasingly dire debt management situation for many British families has focussed more attention on getting a good credit card deal.

In addition, the tendency among consumers with credit card debt is to track down a more competitive arrangement via the internet, where standards of service from financial firms can vary considerably.

“As household budgets tighten across the UK, many credit card customers will start to notice the rates they have been paying on their credit cards and begin to look around for better deals,” said the director of Global Reviews Adam Goodvach.

Figures from Credit Action suggest that close to 300 British consumers are declared bankrupt or insolvent every day.