Abacus Daily Debt News

Consumers should ‘check credit card eligibility’

Those with credit card debt should be more diligent when applying for a new card, suggested one expert.

People that have a number of rejections in their credit card history are more likely to be turned down again, implied Peter Harrison, credit card expert at moneysupermarket.com.

He said: "It is imperative that people take care when applying for credit cards. Those that are too reckless in their applications may find their credit records fouled with a litany of failed attempts to secure credit."

Carelessness when applying could result in consumers being limited in the number of products made available to them, he added.

However, some banks are beginning to help customers by releasing the criteria on which eligibility is judged, which Mr Harrison stated was "encouraging".

Royal Bank of Scotland, Barclaycard and MBNA all provide guidelines for those seeking credit, with Barclaycard having stipulations such as a good credit rating, no history of county court judgments or individual voluntary arrangements and a regular income.

This follows recent news where Adrian Coles, director-general of the Building Societies Association, hinted that consumers are becoming more wary about credit and debt problems.

By Francis Finch