Consumers urged to search for savings
Borrowers keen to find a cheaper credit card deal were today advised to consider a complete revamp of their finances.
The recommendation came from personal finance website Moneyfacts.co.uk, which is expecting to experience an upsurge in enquiries about credit cards as people look for the least expensive way to pay off their Christmas bills.
It welcomed moves by consumers to save money but urged them to do more than just shop around for the best plastic deals, pointing out that it is possible to save more than £900 a year by transferring to a better-value personal loan and £230 by switching to a cheaper gas and electricity supplier.
"Whilst you're sitting in front of your PC saving money by switching your credit card, invest a bit more time and see where else you can save," it suggested.
A recent study by price comparison service uSwitch.com concluded the average household could save £605 by transferring all its unsecured borrowing into a debt consolidation loan.
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