Blackpool people 'more focused on improving their credit rating'

A survey by MoneySuperMarket.com has shown that Blackpool people tend to choose credit cards which help improve their credit rating
A survey by MoneySuperMarket.com has shown that Blackpool people tend to choose credit cards which help improve their credit rating
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People in Blackpool are more interested in credit cards that help improve their credit score than anywhere else in the country, according to a new survey.

Money SuperMarket.com said that 7 out of every 1,000 Blackpool residents enquired about credit builder cards with MoneySuperMarket in 2016.

That rate of enquiry is 73 per cent more than the UK average, and 48 per cent more than the average rate of enquiry in the North West of England. The website said Blackpool’s high rate of enquiries was most likely due to a large number of its residents having past issues with problem debt.

Dan Plant, editor-in-chief, MoneySuperMarket, said: “Credit cards can help you save money when managing debt, borrow new funds, build your credit rating or earn rewards for spending.

"However, you need to select the right type of plastic, and then use it in the right way to maximise the benefit. Otherwise you may face unnecessary charges, damage to your credit rating or a buildup of unwanted debt, which will all make it more difficult to be accepted for new borrowing in future.

“Monitoring and trying to bolster your credit rating is really important – it’s not only checked when you apply for a mortgage or loan, but also for a phone contract, bank account or even car insurance. With our SmartSearch tool, you can see how likely it is you’ll be accepted for credit cards before applying, and without impacting your credit rating.”