Britons becoming smarter over credit cards
Britons are becoming increasingly savvy about credit cards and how they apply for them, new data shows. Rather than simply applying for market leading products which tend to necessitate an excellent credit rating, the nation is becoming more considered in its approach, according to Tim Moss, head of loans at Moneysupermarket.com. This is borne out by the fact that last month the site saw 371,000 people employ its Smart Search application a tool which claims to match people to the best cards for them given their financial status and circumstances, Mr Moss said. By way of comparison, a year ago, the figure had stood at just 103,000. Welcoming the news, Mr Moss commented: "This is very positive news for borrowers and lenders. The traditional scattergun approach of Brits applying for credit is being replaced with a lot more surgical precision now. "The message is at last getting through that there's no point applying for cards and loans you won't get."
Share this..
Related stories
Newlyweds 'hit hard by post-wedding costs'
Six in ten married couples face financial strain in the 18 months following their wedding ceremonies, AA Personal Loans claimed today.According to the loans provider, 40 per cent are putting pressure on their budgets buy purchasing expensive appliances such as washing machines over this period, while 31 per cent buy a home and 20 per cent have a baby in this time.The financial strain is also marke...
Read MoreFirms worth more than their stock provide investors with opportunity
Unusually large numbers of cash-rich firms are worth more than the net value of their stock and debt, new analysis suggests.According to data compiled by Bloomberg, a total of 2,267 companies around the world are in this position.Recent sharp declines on the stock market - with credit crunch-hit equities indices losing around 50 per cent of value over the past year - have boosted this number.The r...
Read MoreThe Bank of England given permission for quantitative easing
The term "quantitative easing" is something which will become more and more popular over the coming months as the UK government has effectively given the Bank of England permission to print new money. The bank is currently looking to buy up to £50 billion of private sector assets which will include a mixture of corporate bonds and commercial paper. Initially the financing for the operation will c...
Read MoreAnother day another economic forum
The World Economic Forum in Davos has received many column inches in the press but what exactly will we learn and what have we learnt so far?
The initial comments coming from the forum appear to be a repeat of those official statements made by the likes of Gordon Brown and other world leaders who are tackling serious economic unrest in their own country. Gordon Brown is also risking...
Savings rates slashed as base rates fall
While for many people they are the forgotten millions, there is a suggestion that savers in the UK are currently receiving a very bad deal from the UK government. These are members of the population who have saved for years, been sensible with their lending habits and often depend on their savings interest to survive or at least help fund their lifestyle.
As base rates fall to 3%, t...