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