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Should You Trust Credit Card Comparison Websites?

15 Nov

Submitted by Guest Blogger: Andrew Black

Credit card comparison Websites are gaining popularity among consumers these days. The sites are designed to help people find the best deals when it comes to choosing any of available credit cards. Logically, using such resources is for consumers who do not have enough time and patience to do the tedious and long process of finding and comparing credit cards.

What most users like about credit card comparison sites is that they can determine some of the best deals in the market in no time. It may take only a few minutes or even seconds to take results. The competition among those Websites has also intensified as more and more new sites arise. Thus, you will find most of those having several other add-on features that will surely be useful.

Are those credit card comparison Websites to be trusted? There are questions and doubts about the reliability of such services. Meticulous individuals, of course, will not easily trust and rely such sites. But many can attest having found the best and most reasonable credit card products in the market through the guidance of such comparison sites.

The pros of credit card comparison sites

Credit card comparison Websites are best for taking a starting point for gaining an overview of the current credit card market. It is a fact that there are numerous credit card products available from various providers today. It can be quite confusing to determine which among those offers and provides good deals. It does not help that the cards are actively and creatively marketed. Comparison sites disregard the marketing ploys and tactics and focus on the basic information like interest rates, terms, fees, and penalties.

To provide better perspectives to consumers, most credit card comparison shops also post actual reviews of various cards from actual users and independent parties. Consumers are supposed to obtain more information and insights about owning and using specific credit cards. Moreover, some comparison sites try to broaden their coverage by comparing other financial products like mortgages, bank deposits, and insurance policies.

Most credit card comparison sites can be accessed and used for free. That is why you can possibly use two or more of those sites at a time. It is advisable to also compare results generated by such comparison Websites. This way, you can easily and clearly determine which products really stand out in the market.

The cons of comparison sites

Credit card comparison sites may have several disadvantages. First, some sites feature calculators and other services that require filling out fields with consumers’ basic personal information. Some sites use this as a strategy to get email addresses and phone numbers, which they eventually use to pursue and contact potential customers.

Second, there is no assurance that comparison sites cover all the existing credit cards in the market. This is why many consumers still do not trust and rely on those sites. In some cases, the best deals are found on manual comparisons, which on the other hand require more effort and time.

Andrew has been blogging about finance and debt management for over 4 years. Andrew specializes in low documentation loans and personal loans. Feel free to follow Andrew’s latest post on Facebook

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2 Comments

Posted by on November 15, 2012 in Articles

 

Tags: , , ,

2 responses to “Should You Trust Credit Card Comparison Websites?

  1. Roman

    November 18, 2012 at 4:31 am

    Of course, what a splendid website and enlightening posts, I will bookmark your website.
    All the Best!

     
  2. John Samuel

    December 24, 2012 at 1:04 pm

    Very informative article on Credit Card Comparison Sites

     

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