Credit cards are slowly becoming the most popular form of payment and I wouldn’t be surprised if they surpass cash one of these days. The truth is that the trend makes a lot of sense. After all, why should you have to carry around cash in different nominations trying to anticipate how much you will need for spending. You find yourself endlessly going back to the bank or ATM simply to replenish your wallet all the while you have direct access to your account in the small plastic card already in your wallet.
However I actually think that the abundance of credit cards is not only due to the convenience that they provide. There are some very large economic interests involved trying to promote their UK credit cards and get you to apply for more cards on the one hand and use your cards more often on the other. The offers are quite tempting - from airline miles to 0% Balance Transfers. The trick is to learn to make the most of the benefits your credit cards offer while not getting carried away with compounding expenses each new card you apply to can bring. Always keep on top of your cards and make sure you can justify each card in your wallet knowing what benefit each card offers and whether it justifies its possible expenses and service fees.
