Terms and Conditions Search Money products essential services One out of every ten people surveyed said they would hate to be without their credit card. Most people think current accounts, mortgages, home insurance and credit cards are now essential financial services. Research commissioned by Morgan Stanley showed that one in four people said their current account was most important to them. Around 20 per cent said their mortgage was the second most important product, and 11 per cent felt contents insurance on their homes was essential. One out of every ten people surveyed said they would hate to be without their credit card.
Credit cards are now five times more popular that stores cards.
The survey also showed an age bias in financial priorities. Mid-life respondents focused more on mortgages. Pensioners were 22 times more likely to borrow through their credit card than by taking out a personal loan.