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| what effect will the credit crunch have on credit card usage | |
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There’s always a lot of hype about what specific effects the credit crunch and economic downturn will have – and this applies to credit cards as well. Will people start using them more as prices go up and it becomes harder to live off the same wage? Will people who are struggling turn to credit cards as a temporary measure? Or will people use them less as they realise that debt is going to be harder to repay as times will be more difficult, and instead, cut down on their spending? It’s a difficult question – and actually not very important. What is crucial though is that everyone is made aware of the cost of borrowing, and they know how much their credit card is going to cost. Likewise, at times like these it is really important to find the best deals – and the best ways of saving money. You can do this by transfering balances, using things like credit card anniversaries, and choosing the cheapest credit card provider. We’ve compared a few credit cards which you can view on the comparison page, and it’s a case of doing your homework and choosing the cheapest credit card provider for your requirements. Good luck – and use your credit card wisely! |
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