More Than says get confident with credit card deal shopping

04 May 2005
According to the first Consumer Barometer from More Than, consumers' confidence about their personal finances has dropped - but shopping around for the best deal on your credit cards and loans could bring it back.

More Than's research reveals that almost a quarter (24 per cent) of British consumers - that's more than 11 million people - admit they currently lack confidence in their financial situation, with one in five saying that confidence has dropped in the past three months.

They say the young are naturally more optimistic, but that is not the picture presented by the Consumer Barometer: almost a quarter of 16 to 24 year-olds are also feeling less confident about their financial position now than they did three months ago.

In terms of the gender divide, men are marginally more confident than women - 17 per cent of men said that they are very confident, compared with 12 per cent of women - but both could look again at their credit card and loan deals to ensure they're getting value for money, More Than advises.

"Our advice is to avoid sticking your head in the sand, recognise there is a problem and take practical steps to improve the situation," comments Graham Hollebon, head of personal finance at More Than.

"Check you have the best credit card and loan deals you can get, rein in spending and make sure you talk to your card, loan and banking providers to get help from them."

The research was conducted in April on behalf of More Than amongst more than 1,000 UK adults aged 16 and over.

Click here to compare credit cards to feel confident that you're getting the best deal.

track© DeHavilland Information Services plc