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Credit Cards -
Credit card customers wise up - 18/03/2008
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Around half of credit card customers pay off their entire balance every month, avoiding any interest payments, research has shown.
Figures compiled by the personal finance website Fairinvestment.co.uk revealed that a good number of Brits are making the best possible use of their flexible friends.
Despite concerns about rising debt levels, it seems many people are well aware of how they can make their money work for them.
"With the encroaching credit crunch being felt by consumers through the price of credit and the bills that come through their front door, it is uplifting to see that more than half of credit card customers can still afford to clear their balance each month and are not relying on their credit card for day-to-day essentials, getting further and further into debt," said James Caldwell, director at Fairinvestment.co.uk.
The liquidity squeeze gripping global markets has made credit harder to obtain.
Lenders are reining in their activity, tightening their lending criteria and pushing up their loan rates to limit their exposure.
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