The recent economic turbulence appears to have enhanced the financial awareness of many of the country's consumers, an expert has suggested.
People are now willing to shop around when purchasing financial products, Moneyfacts.co.uk's spokesperson Darren Cook has noted.
He commented: "I think that the credit crunch has caused people to be a little more financially aware and people are shopping around for the best deal."
The remarks made by Mr Cook follow the publication of the Bank of England's latest Lending to Individuals report, which was made available at the start of this month.
A number of people looked to get credit in January, with the Bank's figures suggesting that there was a £0.2 billion rise in the amount of credit card lending during this period.
Consumer credit is also said to have gone up, with a rise of £0.5 billion recorded.
However, Mr Cook believes this might be put down to an "overflow from December spending".
Posted by Gemma Walker.
