Credit cards 'should suit your needs'

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Credit cards 'should suit your needs'

Finding a credit card that fits the bill is one of the various things people should consider when choosing a product.

Moneyfacts.co.uk has advised that consumers ought to actively seek the best deal when signing up to a new provider.

"If you are in the market for a new card, find one that best suits your needs," said company spokesperson Michelle Slade, who advised that zero per cent balance transfer cards and life of balance cards are the best bet for those with existing debts.

She also recommended that credit card customers should seek to pay off at least some of their balances every month, thereby avoiding the accrual of a high level of interest.

"Even a small amount over the minimum repayment could significantly reduce the overall interest you pay and the time it takes to pay," suggested Ms Slade.

Britons pay more than £9 billion in credit card interest every year, according to research by Abbey.

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