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Tesco: 33% of credit card holders will not change habits

One in three credit card users do not plan to alter their credit card spending habits, according to new research.

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25 June 2009

Tesco: 33% of credit card holders will not change habits”

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Tescocompare.com, which carried out the study, states that although 44 per cent of consumers are looking to tighten their belts and adopt "more thrifty spending habits", a third of credit card holders do not intend to alter their spending pattern at all.

Debra Williams, a spokesperson for the Tesco website, has also advised credit card customers to review their current financial set-up.

She states that half of all card holders have only ever used one card – and therefore could be missing out on potential credit card savings.

"Just switching to a card that pays a lower rate of interest or one which has an interest free repayment period could cut the cost of borrowing," she explains.

Tesco's Clubcard credit card currently offers a 0% interest on purchases for 12 months and balance transfers for six months.

Its typical APR is 16.9%.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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