Credit cards will be granted to those with good credit history, says analyst

www.moneynews.co.uk > Credit cards > Credit cards will be granted to those with good credit history, says analyst

Credit cards will be granted to those with good credit history, says analyst

Tue 23rd Dec 2008

An industry analyst has said that individuals’ credit histories are likely to play a more important role in whether they are granted credit cards in 2009, as lenders look to protect themselves during the credit crunch.

Peter Harrison, head of credit cards at moneysupermarket.com, said: "There's no doubt only those with excellent credit histories will receive the leading credit cards next year.  
"Recently there's been an announcement regarding providers sharing information on usage behaviour to help responsible lending."

Mr Harrison added that the recent ban on payments protection insurance (PPI) at the point of sale will mean credit card companies will look to make gains elsewhere.

Earlier this month, it emerged that Egg had been fined £721,000 for "inappropriate" sales techniques, including selling some customers PPI with their credit cards even when they specifically requested not to have it.

Click here for more credit cards news

Related News : Credit cards
	Brits spent less in the run-up to Christmas 2011
	Credit card spending fell in 2011
	Credit cards 'can be a useful budgeting tool'
	Credit card usage 'to rise this month'
	New measures to help Brits with finances
	Credit card spending 'less prolific in the last 12 months'
	AA Launches new reward credit card
	Borrowings 'still need to be repaid' during a gap year
	Clear information in credit agreements called for
	Brits 'focusing on zero per cent cards'

Related News : Egg
	Egg Visa Card reward 'easy to understand'
	Egg Visa Card 'offers clear rewards for consumers'
	Increased credit card spending is no surprise, says Egg
	Parents 'spend big on children's festive entertainment'
	Egg: Parents shell out £200m on Halloween
	Egg Money World MasterCard launched
	Egg Bonus Savings Account and new Fixed-Rate Bond unveiled
	Egg Credit Card withdrawal fee increased
	Egg cash ISA 'flies the nest'
	Egg research shows how thrifty Brits get by