| If some predictions are to be believed, | | | | estimated that UK credit cards will |
| we will be living in a cashless society | | | | account for around a fifth of all |
| by no later than 2012. This may not come | | | | spending this December. Furthermore, 1 |
| as a major shock, given the current | | | | in 10 people still carry credit card |
| trend in online shopping and the | | | | debts from LAST Christmas. |
| ubiquity of 'chip-and-pin' on the High | | | | So, while it seems that carrying plastic |
| Street. But where does this leave the | | | | is definitely the way forward for the |
| trusty chequebook - once a staple part | | | | 21st century consumer, it would also |
| of British consumer culture? | | | | seem that seeking out the best credit |
| Well, being paper-based, cheques are | | | | card deals is a wise move, given many |
| more expensive for banks to process | | | | people only manage to cover the |
| compared to electronic methods, so a | | | | interest-payments. Fortunately, in the |
| gradual shift away from cheques in many | | | | consumer-centric internet age, there are |
| European countries has become the norm | | | | web sites dedicated to the cause, and |
| in recent years. This 'discouragement' | | | | will compare credit cards for factors |
| usually comes in the form of extra | | | | such as interest rates on purchases and |
| charges for using cheques or making the | | | | balance transfers. Indeed, many credit |
| alternative payment options more | | | | cards offer 0% on balance transfers and |
| appealing. And, of course, the | | | | interest-free periods on all purchases, |
| wide-spread use of ATMs and chip-and-pin | | | | making it an extremely worthwhile |
| in most outlets has meant there is | | | | venture to shop around for the best |
| little need to have a cheque-book these | | | | credit card deal. |
| days. | | | | With cheque-books more-or-less becoming |
| Indeed, many high-profile retail outlets | | | | a thing of the past, consumer culture in |
| such as Sainsbury's, Asda and Boots now | | | | the UK is moving ever-closer towards |
| don't accept cheques at all, as | | | | 'paper-free' payments. Whilst |
| relatively few people use them and it is | | | | predictions suggesting we could be |
| very time-consuming to process them. And | | | | entirely 'cashless' by 2012 may be a |
| this will only serve to push even more | | | | little premature, the fact remains that |
| customers towards paper-free payments. | | | | it certainly looks a safe-bet at some |
| But credit cards have been around for | | | | point in the future, with online |
| long enough now for this seemingly | | | | shopping slowly becoming the norm and |
| inevitable cashless-society to be | | | | chip-and-pin commonplace in most retail |
| embraced with minimum fuss. After all, | | | | outlets. |
| in the build up to Christmas it is | | | | |