July 25, 2005

Credit card industry aims to broadly inform with new website

by brian_turner

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The credit card industry has launched a new website called â€œchoosing and usingâ€, which advises people on the best card to suit their spending behaviour. It also aims to help prevent people building up excessive debt, and offers help for those already experiencing credit card debt.

Approximately 1,500 credit cards are available in the UK, making it difficult for people to choose the right one.

The site was set up by UK payments association Apacs, which represents all of the major UK credit card issuers

The website helps to match the features on offer, to a personâ€™s spending behaviour. For example people who clear the balance each month are advised that the interest rate is less important than features such as no annual fee and a rewards programme.

As the website does not look at specific cards, BBC personal finance reporter Richard Scott, advises that people should still use comparison tables in newspapers or on the internet in order to make their choice.

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Story link: Credit card industry aims to broadly inform with new website

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