Credit Card Blog

Now, more than ever, it’s hugely important to manage your finances wisely. Credit card deals and offers are getting harder to get – with banks tightening their lending criteria, and having a decent credit rating is fast becoming one of the most talked about aspects of credit card lending.

But how lenders are determining, and indeed changing, their criteria to determine whether or not to accept a credit card application, is still unknown. The providers are understandably reluctant to open up this process to the public scrutiny – potentially for fear of both repercussions and also to prevent people from trying to “play the system”.

What is known though – is that checking and working on your credit history, is hugely important. You need to be giving yourself the best chance of being accepted for whatever credit card you apply for.

As an aside, USwitch research has shown that apparently 30% of credit card providers have reduced interest free periods in some of their cards by an average of 11% – which means you have to repay your debt faster to avoid getting hit with interest rate charges.

If you haven’t yet done so – have a look at Credit Expert, where you can check your credit history and credit score. They have a trial that is free, so it shouldn’t cost you anything to do some initial research.

Good luck!

This entry was posted on Sunday, November 23rd, 2008 at 6:19 pm and is filed under Uncategorized.
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