January 'is time for financial review'
Wed 2 Jan 2008 2pm
An expert has urged UK consumers to view the new year as an opportunity to review their financial situation, particularly their use of
credit cards.
Donald MacLeod, head of cards at Sainsbury's Bank, said that taking stock of finances should be the "key thing" for British people in the early stages of 2008, in order to avoid
debt and other money problems later in the year.
He suggested that cardholders shop around for the most competitive deals, always try to repay more than the minimum amount each month and consider cards with reward systems if they make a lot of purchases using plastic.
"Look around and see whether there are better deals than what you're currently getting from your provider and that may well offer you an opportunity to reassess your costs," Mr MacLeod advised.
According to figures from payments association Apacs, there were 69.5 million UK
credit cards in use in 2006.
