- Credit Card Market to Tighten in 2009

Access to the UK credit card market will significantly tighten next year, with only those possessing "excellent" credit histories able to obtain the leading cards, an expert has said.

Peter Harrison, head of credit cards at moneysupermarket.com, said many providers will also withdraw their zero per cent introductory offers as they shift their focus to acquiring customers over a longer period of time.

He noted that a new deal allowing providers to share information on usage patterns and behaviour in order to boost responsible lending will also make it "increasingly difficult" for consumers who had previously been able to take advantage of zero per cent balance transfers to access the deals.

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