Credit card perks coming to consumers
Credit card companies will offer customers greater incentives to sign up to their brand, as competition between card companies intensifies, predicts an industry analyst.
Moneynet.co.uk claims that as credit companies struggle to recruit and retain customers, due to the flood of cards available on the market, consumer benefits will get better and better.
Financial providers are already offering incentives such as interest free balances in an attempt to woo customers, and people that transfer outstanding balances interest free from card to card, are already costing the industry between £2 and £3 billion per year.
Richard Brown, Moneynet's chief executive, explained that this trend is set to continue, saying 'the standard credit card is effectively an endangered species'.
He suggested that cards such as Egg's new Money Manager Account, where people pay interest on a negative balance and gain interest on a positive one will prove a further threat to card companies.
'The longer term outlook for the canny borrower is good, said Mr Brown.
'But for the credit card company executives, the future might not be so rosy.' | 
