UK banks launch credit card advice Web site

UK banks launch credit card advice Web site

The UK's Association for Payment Clearing Services (Apacs) has launched a new Web site designed to inform consumers of the choices, terminology and potential risks of borrowing money on credit cards.

Apacs says the 'Choosing and Using' site provides unbiased information to help people decide which credit cards best suit their needs, if they want to use them as a borrowing tool and whether or not they are the most appropriate choice.

The site also provides advice on managing money and details of help and support available for those experiencing financial difficulties.

Sandra Quinn, director of communications, Apacs, says: "The UK has one of the most competitive credit card markets in the world with around 1500 different cards to choose from, so selecting the right one can be a time-consuming process."

The banking industry has been accused by consumer groups and politicians of failing to clearly explain to customers the true costs and risks of borrowing on credit cards.

Quinn says the new Web site will provide a "handy one-stop-shop for consumers to help them make the best choices about using credit cards".

Apacs says its members have ensured the site gives advice and information on the full breadth of credit card products currently available.

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