British consumers are too afraid of the effects of being rejected for a credit card to even apply for the products, it has been revealed.
A survey by Confused.com showed that over 40 per cent of respondents so worried about having a black mark on their credit score that they will not even try to take out a credit card, with 22 to 30-year-olds being the most reluctant.
The website recommended using tools which allow consumers to check their credit scores in order to work out if they are likely to succeed with an application for plastic without any repercussions from the bank s.
Joanne Garcia, head of credit cards at Confused.com, said: "At the very least, people should check their credit file as they need to make sure all the information is correct. It's really worrying that three out of four people have not checked over the last 12 months."
Capital One recently launched a credit card which rewards customers who make timely payments with a five per cent interest rate drop every six months.
| credit card news |
|---|
| Late credit card payments growing - Wed, 21 Jul 2010 |
| Halifax credit card may not be right for everyone - Fri, 09 Jul 2010 |
| Credit card provider reveals parents hit by summer holiday premiums - Mon, 05 Jul 2010 |
| More News |
Simplyhealth Dental Plan
Affordable cover from only £7.50 per month. Join now and get first month FREE
Income Protection Insurance
Get an instant quote with the award winning company
Amex Cash Back
Credit Card
Credit Card
Get 5% cash back on purchases with Amex
Worried Brits put off applying for credit card
Thu, 12 Nov 2009
Recommended links
Search for the right credit cardCompare 0 per cent APR credit card deals
Best balance transfer credit cards
Compare credit card providers
Popular credit card deals
Credit card search
Brits to pay for Christmas with credit cards
Brits neglect money saving on holiday, says Abbey Credit Cards
200,000 Brits have secret credit cards, says Halifax
Britons aim for credit card transfers
news content
Search
