Compare Credit Cards with CardSmart

Home » Credit Card News » Trends and Analysis » Credit cards 'offer many advantages'

Credit cards 'offer many advantages'

Credit cards should be used for many reasons, according to advice from financial advisors Equifax.

More from Trends and Analysis
18 May 2009

Credit cards 'offer many advantages'”

Bookmarks

The external affairs director at Equifax said that they are good because if anything goes wrong with purchases, the credit card company is as liable as the merchant from whom the goods are bought.

His comments come as UK payment's association Apacs revealed statistics showing a decrease in credit card spending in the last quarter. According to Apacs, credit card spending decreased by 3% compared to the last three months of 2008.

In comparison, sales on debit cards increased by 2% in the same period.

External affairs director Neil Munroe explained that the statistics could show an adjustment in how people are viewing the future.

Mr Munroe said that people "who may have used credit cards in the past are now looking more cautiously at the future and saying: 'I may use it for certain things but I am not going to use it as broadly as I used to and I will focus on keeping my debt position manageable in case things happen in the future'."

Written by ©

Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
Compare More Credit Cards...

The content and information on this website are intended as general information only and shall not be construed as financial advice or recommendations of any nature in accordance with the Financial Services and Markets Act 2000 nor is it intended to address specific financial requirements. Read more... We strongly recommend that you seek independent financial advice before using and/or relying on the information made available to you or prior to purchasing any financial product/service listed on the Website. Whilst every attempt has been made to ensure that the content and information published are true, correct and up to date, no warranty, guarantee or representation is given as to its accuracy, reliability or fitness for a specific purpose.

The Best Buy credit card comparison tables feature financial products/services of our advertisers and may not necessarily constitute the best offers in the market for each of such products/services.