Price comparison sites helping cash-strapped consumers

| January 27, 2012
Price comparison sites launched

With household incomes under increasing pressure from inflation and unemployment more consumers are turning to price comparison services to help them reduce their outgoings and the New Year has seen the launch of several new sites.

Insurance specialist comparethemarket.com has launched a new service which allows consumers to find which credit cards and loans will best meet their needs.

After putting in details such as the APR of their current card and any balance transfer fee, the user can see how much they would save on interest payments by switching to a different card.

Similarly, comparethemarket.com’s new loans comparison service allows users to view the repayment figure based on their individual requirements.

MoneySupermarket has also launched a new comparison site which it says is the first travel insurance comparison site in the UK which takes pre existing medical conditions into account.

Nine insurers are currently signed up to the service but this number is being extended over the coming months.

The company warns that failing to disclose a medical condition can invalidate a policy, even conditions which a customer may consider ‘minor’ such as mild asthma and high blood pressure.

A new price-comparison site targeted at drivers has been launched by Looking4Parking.com.

The company’s new mobile website allows drivers in the UK and Ireland to quickly search, compare and book air and seaport parking while on the move and also provides directions to car parks.

Meanwhile retailer Argos’s insurance and credit card price comparison website has been taken offline, just four months after being re-launched.

The site is being reviewed because it breached new guidelines for insurance comparison sites issued by the Financial Services Authority in October.

The guidelines were published due to concern over ‘the possibility that consumers could be misled about the services and information they receive’.

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