A new facility which allows customers to see the likelihood of getting accepted for certain credit cards has been released on price comparison website Confused.com.
With a large number of failed credit card applications resulting in higher rates and longer repayment times, the site believes the free tool will help borrowers save money in the long run.
It advises those with debts to switch to a credit card with a better rate and pay a small amount more each month than the minimum and make sure the most expensive owings are settled first.
Joanne Garcia, head of credit cards at Confused.com, said: "As the rules around lending get more stringent, trying to switch credit cards can be a time-consuming and frustrating exercise.
"The tool on our site will give customers the confidence that they are applying for the right product which should save them both time and incurring unnecessary credit footprints."
The Mirror recently said that people in one situation may require a different credit card to those in another and they should account for this when choosing which provider to go with.
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Confused.com launches tool for successful credit card applications
Tue, 08 Sep 2009
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