Thursday 28th June 2007
Britons are more likely to find a suitable deal if they compare credit cards from different lenders, it is suggested.
According to the Debt Advice Bureau, the circumstances which influence the best deal vary on an individual basis, highlighting the need for personal credit card comparison to be undertaken.
Director Stephen Rose states: "It doesnt take a great deal of time - 15 to 20 minutes maybe."
But he warns that limited-time introductory offers should only be seen as beneficial if they fit with the likely activity for which the consumer expects to use the card.
"Borrowers should make sure they are fully aware of when their deals expire so they dont pay more interest than they need to," he adds.
Recent research conducted by the Office of Fair Trading found that 70 per cent of Britons do not carry out a process of credit card comparison before choosing a new deal.
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