Credit Cards - Consumers building up to billion pound credit card spend - 01/07/2008

 
 
 

Shoppers are intending to spend billions this summer with many of them using their credit cards to buy goods, according to recent research. A study by Sainsbury's has revealed that UK consumers are likely to spend over seven billion pounds during the next few months.

Further figures show that one of the most popular ways of purchasing goods will be credit cards with 42 per cent of shoppers using them. The majority of Britons do not appear to be affected by the impact of the credit crunch because 63 per cent reported that they are planning to spend a similar amount of money as they did in 2007.
Sainsbury's has encouraged consumers to ensure that they have a credit card that will offer incentives when it is used.

"If you are going to use a credit card in the summer sales," said Donald MacLeod, head of cards at Sainsbury's Finance, "It pays to use one that gives you attractive rewards that are not only easy to collect but also redeem so that you really are earning whilst you spend and getting a little back."



   
 
     
 
 
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