People seeking debt relief could benefit from rewards credit cards

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People seeking debt relief could benefit from rewards credit cards

Thu 7th Oct 2010

Consumers who are seeking debt relief have been encouraged to switch to a credit card that offers rewards.

According to confused.com, people who regularly use plastic to make transactions should ask themselves whether they are getting the most from their card.

This, it said, is because they could switch to a different card that lets them earn bonuses such as shopping points, cashback and air miles.

Chris Griffiths, head of credit cards at confused.com, stated: "Customers who use their credit card as a means of spending should seriously consider the additional benefits offered by a rewards credit card."

He was speaking after the British Bankers' Association revealed that in August 2010, the number of credit card purchases rose to 173 million - up from 169 million in the previous month.

This coincides with the news that the Bank of England's Monetary Policy Committee has opted to leave interest rates on hold at 0.5 per cent - the lowest level on record.

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