Different consumers require varying credit cards to meet their needs, one expert has claimed.
Stephen Rose, director of the Debt Advice Bureau, made the comments when asked to consider the most important factors consumers should consider when selecting credit cards.
The decision would "totally depend on their circumstances", with some credit cards providing better value than others for each unique type of customer, he claimed.
An example cited by the expert was that consumers should be looking for the best balance transfer cards if they are planning to switch an existing balance across from another credit card.
Additionally, if the credit card users are planning to use their plastic for shopping, they may want to take out 0% credit cards for purchases, noted Mr Rose.
"Borrowers should make sure they are fully aware of when their deals expire so they don't pay more interest than they need to," he also asserted.
The Office of Fair Trading recently announced its intention to ensure that credit cards are easier for customers to understand.
News Side
Credit cards different for all users, expert says
Fri, 29 Jun 2007
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