Credit cards may not be the answer to debt problems

Wed, 18 Jan 2012

Credit cards may not be the answer to the debt problems endured by many as a result of overspending at Christmas.

The latest research from uSwitch has highlighted an overall drop in satisfaction with providers of the products and the findings come after the website found 28 per cent of Brits are expecting their festive expenditure to leave them in the red.

According to the report, overall sentiment with regard to credit card companies has dipped to an all-time low, while a fall was also reported for satisfaction when it comes to customer support.

It was found that almost two million consumers are displeased with this type of service from their provider, with Santander, Halifax and Bank of Scotland being the main offenders.

The poll suggests those experiencing debt problems at the start of the new year may be wise to seek professional assistance to help get their money matters back on track.

Michael Ossei, personal finance expert at uSwitch - which is part of Forward Internet Group - stated: "Instead of putting up with poor service or an uncompetitive rate, consumers should look around for a better deal – and sometimes they have to venture off the high street."
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