Perk-less plastic used by half of credit card holders
A recent study from Goldfish credit card shows that more than half of UK credit card holders possess credit cards that fail to provide them with any perks. The total number of perk-less cards in use is estimated to be 20 million which lack in any reward scheme or reduced promotional interest rates on balance transfers or purchases.
The study which questioned a GB sample of 2,000 cardholders on the type of credit cards they currently hold, found that thirty percent of people have a retail reward card which enables them to collect redeemable points. More than one in five surveyed take advantage of cash back credit cards; and those offering Airmiles or travel points were the third most popular scheme. Seventeen per cent of UK card holders stated that they had taken advantage of low rate balance transfer and purchase promotional deals available on the market.
Charlotte Hogg, managing director for the Goldfish Credit Card commented: 'Credit card holders need to demand more from their plastic. If customers hold a card that doesn't reward their spending then they should investigate what other cards might be better suited to their spending patterns. We have found that an increasing number of our customers are using their credit cards for everyday purchases such as groceries and petrol, realizing that they can reap rewards for all the regular purchases they make anyway.'
When it comes to men and women, the survey revealed that both sexes are equally as likely to admit to having perk-less plastic, 52 per cent and 51 per cent respectively. The younger generation expect more from their credit cards with 49 per cent of under thirties having perk free cards compared to 53 per cent of those aged over fifty. Regionally, those in London are most likely to hold a card that doesn’t offer any real benefit, and people living in Scotland are least likely to carry plastic without any perks.
Homeowners who have several cards and would like to consider paying these off could consider doing so with a secured debt consolidation loan. One of many options to pay off credit cards, a secured debt consolidation loan could lessen the need to juggle multiple repayments every month as these would be wrapped into one. Repayments for a secured debt consolidation loan would be for the same amount and would be debited on the same day each month. Secured debt consolidation loans may be repaid over a term to suit the borrower, usually from 5 to 25 years. When considering a secured debt consolidation loan, it is however important to remember that repaying borrowing over a longer term will increase overall interest charges.
Nemo´s typical rate is 8.9% APR variable. A NEMO LOAN IS SECURED ON YOUR HOME. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. The study which questioned a GB sample of 2,000 cardholders on the type of credit cards they currently hold, found that thirty percent of people have a retail reward card which enables them to collect redeemable points. More than one in five surveyed take advantage of cash back credit cards; and those offering Airmiles or travel points were the third most popular scheme. Seventeen per cent of UK card holders stated that they had taken advantage of low rate balance transfer and purchase promotional deals available on the market.
Charlotte Hogg, managing director for the Goldfish Credit Card commented: 'Credit card holders need to demand more from their plastic. If customers hold a card that doesn't reward their spending then they should investigate what other cards might be better suited to their spending patterns. We have found that an increasing number of our customers are using their credit cards for everyday purchases such as groceries and petrol, realizing that they can reap rewards for all the regular purchases they make anyway.'
When it comes to men and women, the survey revealed that both sexes are equally as likely to admit to having perk-less plastic, 52 per cent and 51 per cent respectively. The younger generation expect more from their credit cards with 49 per cent of under thirties having perk free cards compared to 53 per cent of those aged over fifty. Regionally, those in London are most likely to hold a card that doesn’t offer any real benefit, and people living in Scotland are least likely to carry plastic without any perks.
Homeowners who have several cards and would like to consider paying these off could consider doing so with a secured debt consolidation loan. One of many options to pay off credit cards, a secured debt consolidation loan could lessen the need to juggle multiple repayments every month as these would be wrapped into one. Repayments for a secured debt consolidation loan would be for the same amount and would be debited on the same day each month. Secured debt consolidation loans may be repaid over a term to suit the borrower, usually from 5 to 25 years. When considering a secured debt consolidation loan, it is however important to remember that repaying borrowing over a longer term will increase overall interest charges.
