Young people are the likeliest to transfer debts. According to the bank, 41% of people aged between 18 and 34 were thinking about taking up an introductory 0% or low-interest deal, but only 14% of the over-55s would do this. Actually the total amount planned for these sorts of transfers is lower than in the last couple of years, but Santander's view on this is that people are choosing to take a proactive approach to managing their money, and that consumers have reined in their spending and are managing their credit cards increasingly well.
So it appears consumers are being a bit more astute with their money, and perhaps more cautious than in previous years. Now that people are taking more control, paying off this debt has become important to them. January can be a particularly tough time financially, which is why consumers will shop around to ensure that they are receiving the best credit card rates. But if they wish to use credit cards to their advantage and take up interest free offers, a clean bill of health as regards credit history will help them, and by checking their credit reports before making applications, people will be able to see exactly what a lender can see about them.
Checking your credit report before you apply for credit card deals, or any other financial offer, is easy by joining https://www.quickcreditscore.co.uk before you apply. This way you can be sure that there are no outstanding credit payments, credit applications falsely made in your name, nor any history of missed payments. The bank will be checking all of these things, so County Court Judgments or any of the other factors above may well affect their final decision.
What's more, each application made leaves what's known as a ‘footprint’
Quick Credit Score is an online membership programme which provides you with the tools you need to access and monitor your financial and credit information. This includes allowing you direct access to your credit report provided by one of the UK’s leading credit reference agencies.
At Quick Credit Score you can find out how credit-worthy you are with instant and unlimited direct access to your Credit Report and Score. As an additional benefit you can stay protected with 24/7 alerts of suspicious activity on your credit file. So when applying for a credit cards and financial deals, don't let your credit history hold you back.
To learn more about viewing your credit report please visit https://www.quickcreditscore.co.uk or call us on 0845 026 1094