Using a plastic credit card is a great way for people in the UK to keep track of their expenditures. The detailed monthly statement a cardholder receives every month shows exactly where the money is spent. This important tool helps those who hold plastic credit cards to identify trends in their spending and adjust accordingly. In this article, we’ll talk about credit cards and about other types of cards such as discount, ID, loyalty, membership, security and debit cards.
If you’re a UK resident, it’s likely you use some sort of plastic credit card, or at least a debit card. If you run a company in the British Isles and are not currently allowing debit or plastic credit cards – then read more about why you might wish to reconsider…and what could still prevent you from moving forward on trying it.
From the customers’ point of view, having something like a plastic Visa card in their wallets is often considered a kind of “badge of honor”. Customers who are successfully using a plastic card have many positive attributes. For instance, anyone who uses cards in such a manner usually like them more than traditional cards, and are people who mind their money.
Anyone using a MasterCard debit card or a Visa debit card will appreciate the fact that they can track their purchases through monthly statements. Also, customers can set up recurring payments on a schedule that will deduct these payments automatically from the their accounts. Think about this: Could you be the recipient of a payment like this? With plastic cards, it’s possible.
On the downside, debit cards don’t offer any protection if they’re lost or stolen. Credit cards happen to provide such protection. Another thing is that watching your debit spending manes you might have to forego cash purchase, however small. One internet piece says, “you may feel foolish charging $2.65 for toilet paper from Target” (a retail outfit in the States). The piece also noted that consumers probably still end up carrying cash due to stores that won’t allow credit or debit cards to be used.
Since most customers own some form of plastic credit card or debit card, doesn’t it make sense for UK business owners to accept them in the spirit of providing superior customer service?
There’s no doubt that the plastic credit card will continue to be widely used in the UK. If possible, consumers are counseled to pay their balance in full every month to avoid the double-digit interest rate.