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Credit card users looking to curb Christmas spending

A quarter of Brits are planning to embrace the 'Secret Santa' approach to buying presents

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19 November 2011

Credit card users looking to curb Christmas spending”

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Credit card holders in the UK are looking to change their spending habits this Christmas in a bid to cut costs, according to new research.

American Express (Amex) has published the results of a new survey which shows that a quarter of Brits are planning to embrace the 'Secret Santa' approach to buying presents and only purchase gifts for one member of their family or group of friends.

Furthermore, more than two thirds (68 per cent) of respondents have revealed that they will agree a financial limit on what they will spend on their loved ones.

Julie Hay, head of credit cards at Amex, said: "People are looking to take a more savvy approach to buying presents this year, but the cost of Christmas is still higher than it has been in previous years.

"To help make spending go further this savvy approach should also be extended to the way in which people pay for goods."

Those planning to buy expensive 'big ticket' items could apply for a zero per cent credit card, which would allow them to spread the cost of the acquisition over a long period.

Posted by Jack Ramsey

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