FOR IMMEDIATE RELEASE
London, UK, 31st August, 2010: The majority of UK consumers are unlikely to be successful in their application for an attractive credit card deal, it has been revealed.
Financial website thisismoney.co.uk has reported that one in two applicants are now rejected, while two out of three were accepted in 2004 and 2005.
A third of those who fail to fulfil the criteria for the introductory rate are instead offered a worse deal.
Sandra Quinn of the UK Cards Association, which represents lenders and the payments industry, claimed credit is harder to obtain following the recession.
She told the news provider: “Lenders are being more choosy and looking more carefully at all aspects of an applicant’s credit history. We are a long way from the time when credit was shoved at you from all directions.”
In 2009, the number of cards in circulation fell by around ten per cent as credit card providers reduced rates and spending decreased.
“Attractive credit card rates are becoming a thing of the past for most customers in the United Kingdom. One in two applications are rejected which is higher than it used to be a few years ago. A good percentage of people aren’t offered good deals” said financial analyst Charles Baker who has decades of experience in the financial industry. He works as a financial analyst for PPI Claim Company.co.uk.
“Customers who are applying for new credit cards must read between the lines well and be careful with the interest rates that the banks are offering them. Consulting a financial analyst with good knowledge in Financial Service Authority is ideal.”
PPI Claims Company is one of the premier PPI companies in the world. It has years of experience in this field and can help you with your payment protection claim using their no win, no service fee policy. To know more about credit card claim and payment protection insurance claims log on to http://www.ppiclaimcompany.co.uk/. You can also know about loan insurance claims and PPI recover from the website.
Contact Details:
PPI Claims
Belmont Thornton
Suite 2, Unit 25
The Coda Center
Street: Munster Road
City: London
Post Code: SW6 6AW
Country: United Kingdom
Phone: 0207 717 9447
E-mail: [email protected]
Website: http://www.ppiclaimcompany.co.uk
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