Average Number Of Credit Cards Consumers Have
Even as customers try to reign in their spending habits during uncertain economic times, the benefits offered by credit card companies on everything from travel to everyday essentials such as petrol mean a great many people are bulking out their wallets with credit cards.
Possessing more than one credit card is not necessarily a sign of excessive spending habits, however - especially with the number of specialist credit cards offering exclusive discounts at certain stores and services. There are also obvious advantages to keeping old accounts open as a safe back-up, even when they are not currently being used. As long as consumers have cleared their debt with the company, the extra card bulking out their wallet is an insignificant price to pay for increased financial security.
The rise of rewards-based credit cards is one of the underlying reasons behind the uptake of various cards by consumers, who wish to earn money back on items and services they would have been paying for anyway. Depending on the individual card, these rewards could be in the form of store points or cash back, effectively allowing consumers to receive rewards for nothing - or at least, for ensuring they pay their balance in full by the end of each month, and for showing their trust in their credit card provider.
Because credit card UK companies operate some of the most sophisticated anti-fraud systems in the world, having several credit cards in your wallet does not inherently put you at greater risk of fraud either, though it's always advisable to check on your account activity for current and older cards in the interests of security.
With so many credit cards available to suit different lifestyles and shopping habits - as well as new, short-term cards exclusively available over periods such as Christmas - consumers are encouraged to compare the credit card range offered by their provider to ensure they are currently receiving the most advantageous deal.
Taking out a credit card is not a decision to be taken lightly, as consumers need to be confident they are able to pay borrowed money back within the required time, or risk getting into debt. Those who feel they are unsuitable for short-term borrowing could find the ideal option in the form of cards that offer low interest repayments over a longer period, helping you afford everything you need at present and offering the ability to pay it back once your financial situation is more stable.
Possessing more than one credit card is not necessarily a sign of excessive spending habits, however - especially with the number of specialist credit cards offering exclusive discounts at certain stores and services. There are also obvious advantages to keeping old accounts open as a safe back-up, even when they are not currently being used. As long as consumers have cleared their debt with the company, the extra card bulking out their wallet is an insignificant price to pay for increased financial security.
The rise of rewards-based credit cards is one of the underlying reasons behind the uptake of various cards by consumers, who wish to earn money back on items and services they would have been paying for anyway. Depending on the individual card, these rewards could be in the form of store points or cash back, effectively allowing consumers to receive rewards for nothing - or at least, for ensuring they pay their balance in full by the end of each month, and for showing their trust in their credit card provider.
Because credit card UK companies operate some of the most sophisticated anti-fraud systems in the world, having several credit cards in your wallet does not inherently put you at greater risk of fraud either, though it's always advisable to check on your account activity for current and older cards in the interests of security.
With so many credit cards available to suit different lifestyles and shopping habits - as well as new, short-term cards exclusively available over periods such as Christmas - consumers are encouraged to compare the credit card range offered by their provider to ensure they are currently receiving the most advantageous deal.
Taking out a credit card is not a decision to be taken lightly, as consumers need to be confident they are able to pay borrowed money back within the required time, or risk getting into debt. Those who feel they are unsuitable for short-term borrowing could find the ideal option in the form of cards that offer low interest repayments over a longer period, helping you afford everything you need at present and offering the ability to pay it back once your financial situation is more stable.
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