Cashback 'feature held most dear by consumers'

A cashback option has been named the most desirable feature for consumers taking out a credit card, according to new research.

Findings from Abbey have indicated that 20 per cent of card holders commented that they value this facility the most.

Next came low APR, something which 16 per cent of consumers looked for when taking out a card, it added.

However, there was considerably less interest in taking out a card with a charity affiliation as one per cent named it desirable.

According to Roger Lovering, managing director of Santander Cards, the feature may be particularly useful to those consolidating their cards.

"In the current climate, people are becoming more and more savvy about the impact numerous cards have on their credit rating and a significant number of cardholders are now looking to consolidate all their credit cards," he said.

Meanwhile, research from money charity Credit Action has indicated that the UK has a personal debt bill over £1.3 trillion.

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