Britons reining in credit card spending this Christmas

By UK.CreditCards.com

Around one in six Britons are planning to fund some or all of their Christmas costs via credit cards.

Figures from Saga showed that, among those who will make the credit card payments, 28 per cent will try to clear their balances immediately in order to avoid extra interest charges.

Among those older than 50, this total increases to 32 per cent.

The report also showed that the typical festive spend would reach £435 per UK adult this year.

This is 35 per cent below the equivalent total for 1999, once inflation is factored in.

"Responding to the current economic environment, many people are spending only what they can afford," Saga says. "Today's consumers are reining in the cost of Christmas."

Customers who plan to put festive spending on plastic retain the option of using a 0% credit card to avoid paying interest on purchases.

Many deals currently on the market offer interest-free transactions for new customers for six months or more.

Published: 3 December 2009