The new portal, called www.choosingandusing.com, is designed to help consumers understand the choices, benefits, potential risks and terminology around using and borrowing money on credit cards.
The site offers information about which credit card is best for each customer and whether they want to use it a borrowing tool. It also provides advice on money management and the support that is available for consumers in financial trouble.
The UK has one of the most competitive credit card markets in the world with around 1,500 different cards to choose from, so selecting the right one can be a time-consuming process, said Sandra Quinn, director of communications at Apacs. With this in mind, we’ve launched the choosingandusing.com site to provide a handy one-stop-shop for consumers to help them make the best choices about using credit cards.
The web site was built as part of an initiative to improve levels of financial literacy in the UK, after a Treasury Committee report revealed that UK consumers did not fully understand the risks and costs involved with borrowing on credit cards.
