Barclaycard is acknowledged as being the most powerful credit card brand in the UK according to an independent study of the market.
The survey, carried out by the ACG, looked at the number of people having a card, how often it was used, customer thoughts on quality and how the brand is perceived. Having taken all these factors into consideration Barclaycard came out on top, thanks to it being the best known credit card in the country and also the second most used.
A spokesman for ACG, commenting on the results, said that Barclaycard would stand out strongly in the current economic climate since consumers look to the best known names in times of difficulty, feeling that there is less to worry about with a credit card brand they know and trust.
Having a credit card can be a great way to help manage your finances, so long as consumers use the credit card in the correct way. Credit card holders can take advantage of using their card to help protect them when making purchases and budgeting. So long as they have enough money in their bank account to pay off their monthly credit card balance every month, they can help budget your money.It also gives protection to purchasers when using their credit card under the Consumer Credit Act which can be a great advantage.So long as consumers don’t use their credit cards as a source for money if they do not have the money in their bank account to pay off their monthly balance, they can be a great way to manage your money. But if you are not able to pay off your balance every month you could run into debt problems, and you don’t want that. Make sure you can pay off your monthly credit card bill every month. See our credit cards comparison table for the latest offers. Plus, reading our guides and tips pages can offer consumers more detailed information and money saving hints.
An American Express survey has shown that identity theft is more of a worry to people now than many physical attacks.
Over half the people surveyed by American Express worry that they will have their identity used by someone else, with the biggest increase being amongst the 18 to 24 year olds, with the concern up by 8 percent compared with last year. Costing over GBP1.3 billion each year identity theft is a very real crime and as our use of chip and pin cards, the internet and technology increases so do the chances of our personal data being taken.
In reality the risk is relatively low, growing lower still if simple precautions are taken. American Express advise internet users not to provide their details to any sites they do not trust, to shred their documents before disposing of them and to make sure their computers are password protected, and not with either birthday or mothers maiden name, which are by far the most common ones used.
