Cash back cards can cut holiday costs


Cash back credit cards lighten spending loadParents looking for a way to cut their holiday spending costs could consider using cash back credit cards, card issuer Egg suggests.

New figures from the credit card provider suggest that each family with children aged under 16 years old will spend an average of £15.12 per child for Halloween and a further £270 to keep their offspring entertained during the autumn half term holiday. Egg also found that 77 per cent of parents spend more than they can afford on their children over the half term.

The Christmas period, traditionally the biggest time of the year for shopping, is also set to increase this financial burden still further.

Vanessa Wood, an spokeswoman for the internet bank, said that consumers should "get creative with their spending" in order to lighten the load.

"A good way to get back some of the cost is to make the most of rewards and cashback schemes on credit cards," she added. Reward credit cards work by providing a financial incentive on credit card purchases, such as air miles, shop discounts and cashback. Generally, the levels of reward grow as the amount purchased on the card increases.ADNFCR-2308-ID-19426643-ADNFCR

Published: 28 October 2009