The Summer months are expected to be a busy time for those with credit cards according to Sainsburys Bank, with consumers expected to hit the cards hard to cover their spending.
Estimates put total consumer spending at around GBP7.9 billion for the Summer months, a little lower than last year but still a lot of money bearing in mind the difficult economic conditions. Of this total spend Sainsburys Bank predict approximately 42 percent will be put onto a credit card.
There are benefits to be enjoyed through paying by credit card of course, including cash back offers, points that can be redeemed to collect rewards and 0 percent interest too. The key is to clear the balance before it becomes costly and this is what Sainsburys Bank hope consumers will do.