Card hopefuls 'should check credit history'

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Consumers seeking the best credit card deals this Christmas should exercise caution, it has been claimed.

According to David Black of Defaqto, applying for every single deal – especially those which are likely to be unattainable – can do more harm than good.

Writing for the Times, he explained that the best credit card offers are available only to those with strong credit histories.

Consequently, consumers should always do their research before applying, he stated.

"Otherwise you could end up being rejected and making multiple applications, which will harm your credit rating," Mr Black added.

The Times reported that consumers can check their credit record by consulting a reference agency such as Equifax, Experian or Callcredit.

According to the news provider, these are the services used by lenders when they decide whether or not to approve particular applications.

Last week, David Rodgers, managing director of Debt Advice Foundation, claimed that consumer credit habits must improve in the UK.

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Tags: callcredit , best credit card offers , credit histories , david rodgers , credit habits , experian , equifax , debt advice , credit card offers , good writing , consumer credit , managing director , credit rating , caution , lenders , consumers , christmas ,

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2009-11-18 11:52:44 © Moneyextra.com