Consumers should shop around to find the credit cardthat best suits their needs, an industry body has advised.
According to UK payments association Apacs, the wide variety of credit cardproducts on the market means that consumers need to take the time to research their options thoroughly in order to make an informed choice.
Spokesperson Mark Bowerman said that the necessary information “is out there” and advised consumers that “the summary box that appears on all marketing literature and card statements is invaluable for people to make better informed decisions”.
However, he added that the consumer bears the final responsibility of making the correct choice.
“You don’t need to necessarily sign up to the first one that you see,” he warned.
In related news, the liberal democrats have called on the government to close a loophole in the law that allows consumers to be sent unsolicited credit cards.
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