‘Credit Cards’ News
20% still paying for Christmas in June
Posted 2007-12-12
A survey by Your Money Show has found that 20% of Britons will still be paying for their 2007 Christmas shopping in June 2008. Moreover, 10% will be paying off their credit cards into September and nearly 4% into December. Research from MoneyExpert showed that 4.4 billion Brits are still paying off credit card bills from Christmas 2006. Your Money Show found that Londoners were the biggest spenders at Christmas with 20% of people shelling out more than £1000 compared to East Anglians, the most frugal, who spend on average £500 each. Despite these high costs, only half of people save for Christmas. The biggest savers are in the North East, but at the same token they are also the most likely to get in debt over Christmas. £53billion will be spent in the UK this Christmas, with £11.7billion spent on credit cards. ...
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Hidden credit card charges after Christmas abroad.
Posted 2007-12-11
The Post Office has warned the 2.4 million Britons heading overseas for Christmas this year that they could face “hidden” credit card charges in the New Year. Many card companies charge an extra 2.75% in commission for each overseas transaction, a fact many consumers are unaware of until the charge appears on their bill. Post Office Director of Lending Gary Fitton said: “Many people could be returning from their Christmas break with a lot more than ‘memories and mementoes’ due to unnecessary card charges.” According to the Post Office, 49% of festive holiday makers plan to use their credit cards whilst abroad. ...
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Brits to rein in credit card spending
Posted 2007-11-8
The ongoing credit crunch may lead to UK consumer s avoiding credit card expenditure over Christmas. The credit crunch has been caused by the slump in global financial markets following the collapse of the US sub-prime loans market, which led...
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Fall in credit card use this festive season
Posted 2007-11-2
A report has indicated that there will be a fall in credit card use this Christmas. Debt consultancy Thomas Charles polled 2000 adults and discovered that one in four planned to avoid using their credit cards this festive season. On...