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Credit cards to help fund Christmas spending

Credit cards to help fund Christmas spending

Category: Credit cards

Updated: 31/10/2008
First Published: 27/10/2008

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 It is now over 6 months old so the content may be out of date.

Many consumers are planning to use credit cards to fund their Christmas spending, a survey has found.

According to Norwich and Peterborough Building Society (N&P), nearly a quarter of those who have not saved for the holidays will be using a credit card to make purchases.

But the study also showed that 57 per cent are planning to cut down on their spending, while 68 per cent intend to buy cheaper or fewer presents.

The majority of those who said they will continue to spend as much as usual attributed this to money put away.

Savings products manager at N&P Gary Lacey remarked: "The results of the survey show us that putting money into a savings account on a regular basis seems the best way of making sure this Christmas will still be a merry one."

Last week consumer advice group Which? noted that a credit card comparison could help ensure the best value offer is found.

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 Any products featured may be withdrawn by their provider or changed at any time.

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