Only Finance.com - More consumers apply online for credit cards

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Credit Cards - More consumers apply online for credit cards - 19/05/2008

The internet is the preferred way to apply for a credit card, according to new research.

A survey by Global Reviews revealed that 64 per cent of borrowers turn to the internet to order a new credit card.

In addition, a further 68 per cent of consumers choose online banking as their preferred method of managing their account.A huge 78 per cent of those applying online said they consulted the internet in order to find out what option would suit them the best.

Just 11 per cent used the traditional method of enquiring about credit deals in a bank. Global Reviews reported that the rise in numbers of people shopping online for credit cards should give the industry a boost.

Adam Goodvach, director at Global Reviews, said: "As household budgets tighten across the UK, many credit card customers will start to notice the rates they have been paying on their credit cards and begin to look around for better deals."

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