Are credit card offers really still competitive?
With the internet fueling consumer demand for credit cards over the past decade how has this affected the deals on offer and personal finance in the UK today? For practically the last decade we’ve seen the credit card change from something only the rich use to something practically every person in the UK owns. I think the average number of credit cards per person in the uk is 2 or 3 and I know it’s commonplace for people to have 5 credit cards in their wallet or purse! In my opinion the internet is responsible for most of the change in attitude, not only to credit cards, but finance in general, across the UK. Something like 57 per cent of UK homes have broadband access today and this is obviously only set to increase over time. So, how has this affected credit card and finance industry over the last 10 years? Firstly, there has been an increase in new internet only banks and credit card companies springing up. The traditional high street banks and building societies also created their
