Customers 'plan to reduce' their number of credit cards

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UK credit cardholders are planning to reduce the number of cards they use, according to new research.

Abbey Credit Cards' findings also reveal that consumers in the UK own two credit cards on average, while 22 per cent of cardholders have three or more.

The study also reveals that most UK customers would prefer to have cards which give cashback than one which had a consistently flat rate, while six per cent like cards which offer shopping discounts.

Commenting on the research, managing director of Santander Cards, Roger Lovering, said: "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."

He added: "Abbey looks set to benefit from this as cashback is the feature people say they value most."

The number of features available on credit cards has been in the news in recent weeks, after Barclaycard launched their OnePulse card, which combines credit and cashless technology with its ability to be used on London's transport network.

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