Using credit cards 'could save householders money'
Paying by credit card could save UK householders money according to American Express.
Using credit cards 'could save householders money'”
Paying by credit card could save UK householders money according to American Express.
American Express vice president UK lending Tom Allder announced a mission today to get UK householders to get rid of their debit card payments.
Mr Allder said that thousands of pounds every year are being paid on debit cards for everyday items such as grocery shopping and petrol.
He continued: "Simply by paying for these items using a cashback card or reward card, instead of using a debit card, people could be earning themselves hundreds of pounds of free cash."
His comments come as the UK payments industry association APACs released figures showing that debit card payments are on the increase.
Payments on credit cards have increased by just 0.6% in the past year, according to the new statistics.
They also show that debit cards now account for two-thirds of spending on plastic cards.
According to American Express research, a quarter of credit cardholders save the cashback they have earned. A fifth put it towards household bills and one in ten put it towards the cost of Christmas.
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