Apacs’ new site to offer customised credit card advice |
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Sat, 23 Jul 2005 06:05
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A new website will now be introduced by the credit card industry in its attempt to assist people in making the right choice regarding credit cards so as to shun the burgeoning debt trend and facilitate consumers with a credit card shopping guide.
Set up by the UK Association for Payment Clearing Services (Apacs), the newly launched website called “Choosing and Using”, is quite aptly named since it provides information to people looking out for credit cards and helps them choose between the plethora of cards available in the market, according to their income and expenditures.
Moreover, the site lends a hand for those who previously have credit card debts or other financial crises, also teaching them various ways of money management. Nevertheless, specific cards are not evaluated here.
Calling the site a “one-stop-shop for consumers”, Sandra Quinn, Apacs’ director of communications said, “The UK has one of the most competitive credit card markets in the world with around 1500 different cards to choose from, so selecting the right one can be a time-consuming process.”
This website can really prove to be of great help with banks and lending institutions being blamed lately for issuing cards to consumers without intimating them adequately about the risks and hidden costs involved. Therefore, it becomes a very tough decision for consumers to pick a card that is just tailored for them.
‘Choosing and Using” presents the characteristics a consumer ought to consider while making a card decision according to their spending patterns. Just as the site recommends those customers who make regular payments to look forward to rewards programmes and to disregard interest rates, the site suitably advises those people too who are shrouded with credit card debts.
Quinn added that discussions of APACS with four leading banks were underway for bringing them to add a link of the new website, www.choosingandusing.com, in their individual websites, similarly hoping for public libraries as well as Citizens Advice and Which? to add links in their home pages for the new site so that people would be further persuaded to utilise this site.
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