Once one of the easiest and cheapest methods to borrow money over the short phrase, credit cards are now becoming increasingly expensive and much more difficult to obtain, yet millions of us still use them for our day to day cost management. Due to the credit crunch many charge card issuers have tightened their lending criteria and essentially have seen a huge reduction within the credit card market. However this still wasn't enough to prevent a record number of Brits trying to get a card this year. Recent figures show that even though the nation is currently in the center of a credit crunch, general spending was up by a lot more than 9% in September, also from a survey that was recently removed apparently one in five adults are intending to paying for their Christmas this year on the credit cards. Experts are now warning that if you're one of those people planning on spending money on Christmas on your card you should be careful. Many years ago it might have been ok but these days easy credit and cheap borrowing really are a thing of the past. Most charge cards currently out have high interest rates mounted on them and most deals are beginning to disappear. Many interest-free deals are also disappearing and lenders have grew to become pickier about who they lend in order to. According to the latest figures, 16 of the top card providers raised their interest rates previously year alone. If you do decide to cover Christmas on your card this 12 months, be careful on the amount you spend and the quantity of time you take to pay the actual funds back. There's nothing worse than starting the New Year in lots of debt.
Even though a large amount of the cheap deals on most credit cards [http://www.moneysupermarket.com/cards/] have disappeared, there are still occasionally some great deals on credit cards [http://www.moneysupermarket.com/cards/] and interest free charge cards so keep your eye out on their behalf.
View this post on my blog: http://creditcard.valuegov.com/cheap-credit-cards-disappearing/
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