Consumers can make savings with credit cards
10th June 2008
As the credit crunch puts an end to cheap borrowing many consumers have lost hope of finding good deals, but there are still opportunities to make savings.
That is according to financial advisory service Moneyfacts.co.uk, which has suggested that borrowers should make the most of zero per cent balance transfers and introductory offers.
Esther James, analyst at Moneyfacts.co.uk, commented: "Balance transfer and introductory deals are great for those who cannot pay their balance off in full. For those who are able to keep on top of their finances and pay off their credit card balance each month, there are cards available which can offer various benefits."
One way that motorists, hit hard by soaring fuel costs, could make considerable savings is to buy a credit card with fuel incentives.
Some providers also offer cash back deals so that if consumers pay the balance of their card, they can "make money from [their] card providers".
The news comes as research by MoneyExpert.com has shown that 3.2 million Britons currently hold five or more credit cards.