Almost one in three 'plan to use credit cards for holiday payment'
Almost of third of Brits intend to use their credit cards to pay for their holiday, according to new research from Halifax.
Almost one in three 'plan to use credit cards for holiday payment'”
Almost of third of Brits intend to use their credit cards to pay for their holiday, according to new research from Halifax.
According to the study by the credit card provider, 10% of those asked said they were lucky enough to have someone else to pay for their holiday for them.
Halifax revealed 72% of those polled said they were using their savings to pay for their holiday.
The research also showed 43% of Brits are reducing the amount they spend on holiday this year.
This could be due to the economic downturn, which has seen many out of pocket.
Flavia Palacios Umama, head of Halifax Savings Products, said: "It is great to see that so many people are saving towards their annual holiday which should give them a real sense of achievement on a well deserved vacation.
"This leaves them free to enjoy the sunshine and not worry about a financial holiday hangover when they get home."
Halifax is currently offering a Plus credit card, which gives users 0% for 13 months on balances transferred in the first 90 days, with a 3% fee.
There is a typical rate on the credit card of 16.9% APR variable.
In order to keep the promotional rate, credit card holders must ensure they pay at least the minimum payment by the due date and stay within their credit limit.
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