The number of credit card applications made online fell during the second quarter of this year compared to the same period in 2007, new research shows.

According to a study by comScore, online credit card applications submitted at the top ten credit card issuer sites were down six per cent over the year.

The authors of the study suggest tighter credit conditions may be responsible for the decline as consumers are finding it increasingly difficult to obtain credit.

Indeed, the economic crisis is causing many banks to become more cautious about who they lend to, which is restricting access to loans and credit cards for many consumers.

Fortunately, pay day loans could provide an answer for those in need of short-term credit to cope with financial emergencies.

According to Check into Cash, pay day loans can act as a viable alternative to more traditional forms of lending and can help to ease the strain on household budgets.

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