You may know that credit cards were first dreamt up in a sci-fi novel back in the late 19th century. The novel was called 'Looking Backwards', the author was Edward Bellamy, and the term credit card was used 11 times. Perhaps because of this, the credit card industry has always been fairly inventive. This inventiveness can be seen more clearly now than at any time in recent years. With the credit crunch has come economic change and with change comes more change. It may be worth having a look again at the market to compare your credit card against what is available now - there may be some great offers that you are missing out on.



There is a need to compare your credit card for the reason mentioned above. The credit card industry changes so fast, because of the competition, that new offers and cards appear all of the time. Also, as the economic climate changes, the types of cards change to reflect this. Currently, for example, the credit crunch is having an effect on credit cards. You would expect economic enforced changes to be negative during a recession and positive in a growth; however this isn't necessarily the case. Even with all the cut backs and increased credit applications a few gems can and do appear.

These contending forces make for an interesting period in credit card history. The lenders need to come up with interesting ways to attract customers who are concerned with their financial situation and not really wanting to spend as much money. Under these circumstances some interesting new offers and cards are being released to test their effectiveness. Although in their infancy, or only being offered by a few, these innovations may catch on if they attract enough costumers and are effective. The truth is that some of these new offers are actually really quite good.

So cards change both to outdo each other and in response to the economic climate. There are other reasons why new cards are introduced but this is the general picture. It is this constant mutating that means you, as a customer, should constantly compare your credit card with others on the market for new deals. You may seriously be missing something that could save you a small fortune or help you financially in some other way.

The other interesting development is the card with a sliding interest scale. This card's interest slides up and down dependant on how much you repay each month. This is curious because, as with the offer above, the credit cards are making it is easier and cheaper to repay money in order to attract customers. Once again if you have a card and a strong rating this could be an option.

So in summary: things are changing, this much is clear. It is in every paper on the planet and even books about it are appearing in the bookshops. Along with this change the economy is changing and part of this is the credit card industry. Due to these changes new card will, and are, being introduced that are more suitable for the times to encourage new custom. You should compare your credit card to these new species or you will be selected for financial extinction - a bit too far? Oh well you get the point!