"Everyday credit card users" identified
A breed of consumers - known as "everyday credit card users" - has been identified by a piece of research done by Sainsbury's Bank.
A breed of consumers - known as "everyday credit card users" - has been identified by a piece of research done by Sainsbury's Bank.
The financial services provider explains such people use their credit cards, as they would cash or a debit card, to make inexpensive purchases of £20 or less and then clear their balances every month.
It is suggested that there are 7.55 million such users, who spend a total of £3.64 billion on their cards on a monthly basis.
Donald MacLeod, head of cards at Sainsbury's, says the company's credit card - which rewards customers for every purchase they make on it - is "perfect" for such people.
"There are fewer credit cards offering any form of financial reward linked to the amount of money spent on the card today, compared with four years ago, meaning there's no better time to switch to a card that gives you something back," he adds.
A poll carried out by Research Plus on behalf of Sainsbury's last month suggested early Christmas spending is current at £7,21 billion, a rise from £6.29 billion at the same stage in 2007.
Posted by Alex Adams
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