How to Find Credit Cards in a Tough Financial Climate

By: Karl Bantleman
Creditors are being stricter on who they allocate credit cards to and this has had an adverse effect on customers obtaining the best deals. A customers' credit report must be spotless in order to gain a credit card and research shows that the average annual percentage rate (APR) has risen from 16.5% to 17.12%.

The reasons why providers have been stricter on their lending criteria are due to the loss of profits they are seeing during the credit crunch. They have recovered around ?3 billion by cutting customers spending limits; this means that customers have to look at the small print when choosing a credit card deal.

The increases have been unavoidable and it is clear to see as providers try and avoid such increases because these are the rates the customers see first. This shows the problems the economy is having. There are still good deals on credit cards but customers have to search a bit harder to make sure they find the most competitive deals around.

You can find some good deals around, for example, 0% credit cards but ensure you find out how long that rate will last because lenders may have adjusted previous deals. Unfortunately, rates and charges are likely to keep rising which will only make finding competitive deals harder.

One way to make sure you find the best deals is by shopping online where you can compare the various credit providers and all their deals with minimal stress and hassle. Remember to spend wisely during this difficult time for the economy and try and budget so you do not spend more than you really need to.

If you are looking for the credit card deals then look for deals such as 0% credit cards as these are the best deals financially and will allow you more time to pay off the money you spend. For the best deals on credit cards, shop online and compare the various lenders.

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