Credit card spending set to increase, survey shows - Credit cards - News - Moneyfacts

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Credit card spending set to increase, survey shows

Credit card spending set to increase, survey shows

Category: Credit cards

Updated: 06/02/2009
First Published: 04/02/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Britons are expecting to spend more on credit cards this year than they did in 2008, it has been found.

Research by the Post Office revealed that 2.6 million people are planning to increase their spending on these forms of finance, although just 45 per cent intend to pay off their bills in full each month.

In addition, a rise in usage for day-to-day purchases is expected by a third of adults, meaning ten million people will be using credit for the likes of food shopping.

The Post Office urged these consumers to find the best deal available, something a credit card comparison may help with.

"In the current climate, many people have little choice but to rely on their credit cards to fund more expensive purchases," said head of lending Az Alibhai, adding that the trend to use them for everyday purchases is "worrying".

Sainsbury's Bank recently advised those using such forms of finance for small costs to consider a reward credit card, but to remember to pay off balances each month.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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