Many recent reports have suggested that more and more of us are becoming increasingly reliant on our credit cards.
With the effects of the global credit crunch taking their toll on credit conditions, and with rising living costs and bills adding to our financial burdens, many of us have no choice other than to turn to our credit cards to fund a variety of things at times when our monthly income simply won't stretch far enough.
According to a recent survey, which was carried out by the Alliance and Leicester, an increasing number of people are now turning to credit cards to fund the cost of repairs or replacement of gadgets and appliances in the home when they break down.
Whilst some may be covered by home insurance this does not always apply, and if this is the case the cost of repair or replacement can be high.
The results of the survey showed that around fifty percent of consumers said that they would not otherwise be able to afford to replace or repair their gadgets or appliances, and a further twenty percent did not think that they would be able to afford more than one hundred pounds for repairs or replacement in the event of a breakdown. Many, therefore, would end up relying on their credit cards.
There is no doubt that we are becoming more reliant on our credit cards for a wide range of needs and purposes, and this is why it has become more important than ever to hunt for the right card so that we can get the best deal on our borrowing.
This could mean and looking for a low interest credit card, a 0% purchase credit card, or a card that offers certain benefits, such as the , which offers .
