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UK shoppers 'turning to credit cards'

UK shoppers 'turning to credit cards'

Category: Credit cards

Updated: 05/01/2009
First Published: 29/12/2008

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 It is now over 6 months old so the content may be out of date.

Consumers are increasingly taking advantage of credit card deals in the current economic climate, it has been suggested.

Head of Sainsbury's Credit Cards Donald MacLeod noted that there has been a reversal in trends regarding plastic cards lately.

"We are seeing customers migrating their spending from debit to credit card," he explained, noting that this focus represents a "shift back" as consumers traditionally moved to debit cards.

According to Mr MacLeod, this is partly because of the increased protection that credit cards offer, but also due to the offers available.

And with a number of reward credit cards now on the market, shoppers may be tempted to opt for this sort of borrowing option rather than spending savings.

UK payments association Apacs recently found that there were 1.9 billion plastic card purchases made in the third quarter of this year, with a total value of nearly £94 billion.

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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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