Review finances, consumers urged

Credit card customers should shop around for the best deal on their plastic in the new year, according to an industry expert.

Sainsbury's Bank head of cards Donald MacLeod said that reviewing one's finances is "the key thing" in order to manage money in 2008.

"Find where the best deal is for you and take advantage of those deals," he said.

According to Mr McLeod, consumers should compare their credit card deal to those that are available from other providers.

"That may well offer you an opportunity to reassess your costs," he said.

Payments organisation Apacs predicted that British consumers would spend some £53 billion over the festive period, with 64.3 per cent of that charged to credit cards.

In 2006 as a whole, British consumers spent £159.8 billion on plastic, with £61 billion of that going on credit cards and other charge cards.

Cheshire Building Society also urged Britons making New Year's resolutions to prioritise their personal finances.

The financial services provider said: "If you have a mortgage, it is always worth shopping around in case there is a better deal available."

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