(1888PressRelease)
June 08, 2007 - A new study by a leading bank shows that many consumers are willing to choose convenience over value when it comes to borrowing credit in any form. Figures point towards a fact that more than half of all borrowers in the UK have been privy to store cards because of the convenience associated with it. And, this is no case of ignorance – borrowers know about the expensive repayment fees associated with store cards.
And that’s not all; more than 40% of the UK credit consumers have agreed to the forecourt finance deal in the event of buying a car only because of the convenience that it offers.
Financial experts say that this research throws a light on the spending pattern of the borrowers most of whom are too busy to cut rounds of banks or other lenders. In most cases, the consumers do not think before signing up for these types of credit. A bit of careful thought would probably go a long way in helping them save a couple of hundred pounds.
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