Consumers to reduce borrowing, says report by Finance News Bulletin

Published: 22/12/07

As a figure of fee and rate increases hits the credit card market, it is "more important than ever" that populace shop around for a good deal, according to WhichInternet shoppers have been advised to use their credit cards for online purchases by shopsafeco

ukThose intending to reduce the amount payable on credit cards in the next six months outnumber those who plan to borrow more, new investigate has foundAccording to Alliance & Leicester, credit card borrowing has fallen every month from February until August this day, reaching its lowest level in two yearsas a result, people looking for the best credit card offer on the current market could benefit by organization their money in custody with the trend of borrowing less

Commenting on this decline, Chris Rhodes, managing manager of Alliance & Leicester Retail Banking, said that in context, "the financial system is performing well and service is at an historic high"He suggested that although borrowing has decreased, it is connected to a "cultural shift" and said that this year "has been a rotating tip for the UK consumer"However, while borrowing may have declined throughout the day, research this week found that the average amount spent by consumers on credit cards over Christmas is expected to reach £1,270 - an add to of 35 per

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