Credit card customers may benefit from arranging several credit card deals to be used for different purposes such as buying clothes, travelling abroad and financing new cars, it has been claimed.
Mike Naylor, personal finance expert at financing website uSwitch.com, has made his comments as he evaluated the recently revamped One credit card from financial services provider Halifax.
While acknowledging that the new credit card may appeal because of the fact it offers zero per cent on both purchases and balance transfers during the first nine months, Mr Naylor pointed out that it comes with lending rates of 13.9 per cent, compared to 9.9 per cent for the old version.
As a result, he has contended that it may be advisable to take advantage of the individual merits of a range of credit cards.
"The days of a 'one credit card fits all deal' are over and people must ensure they use each of their credit cards for the right purpose or by having more than one if necessary," he said.
In other credit card news, Barclaycard has recently launched the new Breathe credit card, with the financial services provider pledging to donate 50 per cent of profits to environmental projects across the globe.
News Side
Multiple credit cards may be better, financing analyst suggests
Thu, 17 May 2007
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