Brits to turn to credit cards to fund Christmas spending
A total of 16 per cent of UK consumers will rely on credit cards for the majority of their spending over the festive period, says Which?
Brits to turn to credit cards to fund Christmas spending”
Britons are set to use their credit cards to help pay for their Christmas spending this year, according to new research.
Consumer champion Which? has published the results of a survey which shows that
16 per cent of UK consumers will rely on credit cards for the majority of their spending over the festive period.
Half of respondents admitted that they are worried about the cost of presents, with 40 per cent planning to spend less this year as the effects of the recession continue to bite.
In order to cut costs this year, a third of Brits are set to start shopping early to spread the overall expense of Christmas, while just over 13 per cent of respondents intend to pass on unwanted gifts to others.
Richard Lloyd, executive director of Which?, said: "Cash-strapped consumers are really feeling the impact of rising costs this Christmas. People are being forced to cut back.
"But Christmas doesn't have to be cancelled. Savvy shoppers can save money with online deals, discount days and pre-Christmas sales. You should compare prices between stores and don't be afraid to haggle to get the best price."
Posted by Sarah Nyman
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