Well known UK financial services company CIS has been looking at the state of the credit card market and seeing how we as a nation use them.
One of the first things that came to light in the CIS survey was the amount of money spent on the busiest day of the week, namely Saturday. The average Brit will spend over GBP500,000 over the course of their lifetime on that one day alone. Looking at situations when credit cards are used it is the usual suspects of clothes and shoes that top the list, closely followed by social activities like dining out and visiting bars.
The person responsible for credit cards at CIS felt that the findings were very representative of how we live our lives. After a hard week at work Saturday is the day to let our hair down and live a little.
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Having looked at the half term travel market Abbey National has found that prices can be as much as 80 percent higher than when the children are in school, meaning credit cards will be used to take some of the strain.
It came as no surprise to find higher holiday costs when the schools are off but 80 percent was quite extreme thought the Abbey National, especially when the economic climate is such that parents are looking to save money where they can, whilst still doing the best for their children. Scottish parents will fare better than their English counterparts thanks to their school holidays being at different times.
Abbey National found that Spain will offer the best value for families and also suggested ways to save money, including booking in advance, finding the best offer on currency or perhaps using a credit card that saves foreign exchange costs.
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A new Saga Insurance credit card, called the Platinum Visa Card, has just been launched which is set to offer a fair deal to Saga customers.
One of the biggest factors with the new Saga Insurance card is that transactions are ordered so that the most expensive to repay amounts are cleared first, something few other card providers offer. Furthermore there will be no currency charges for any transactions made in what is called Visa Europe. This includes the EU plus some others.
There is also the usual credit card offer included by Saga Insurance, namely 0 percent on balance transfers and purchases for 6 months. All in all this new credit card can save customers a great deal of money and is sure to be a resounding success.
