Millions plan card consolidation, says survey

Many Brits plan to consolidate the credit cards that they own into one single card, the results of a new survey suggest.

Abbey’s study revealed 23 per cent of those quizzed – equivalent to an estimated 7.7 million – intend to cut down debts on multiple cards and switch to using a solitary piece of plastic.

Roger Lovering, managing director of Santander Cards, explained: "In the current climate, people are becoming more and more savvy about the impact numerous cards have on their credit rating, and a significant number of cardholders are now looking to consolidate all their credit cards."

Among the other data gathered from the research was the statistic that most people see cashback as the most valued feature of their credit card, with 20 per cent saying it is most important to them when choosing a deal, while 16 per cent cited low APR as the major factor in their personal decision-making process.

Meanwhile, the Mail Preference Service is now offering the chance to those irritated by the amount of junk mail the are sent from credit card companies to "opt out of junk mail," by registering with them.