(1888PressRelease)
November 21, 2007 - London (shakespearefinance) : The predicted consumer spending for December through cards, cash and cheques is likely to reach £53.0 billion. The UK’s payment association Apacs said that there was likely to be an increase of 4.2 per cent on December 2006 when it was £50.8 billion.
As for separate spending through debt cards and credit cards, the figures were likely to be £22.4 billion and £11.7 billion respectively. Thus, plastic cards alone were likely to account for two-thirds of the total spending in December.
During Christmas month, Brits prefer shopping through debit cards. It gives them a lot of convenience. However, when it comes to shopping online, the preference seems to be in favour of credit cards.
Sandra Quinn, director of communications at Apacs said: "Whether buying the turkey or stocking fillers, we’re most likely to be using our debit card to pay for them this Christmas, continuing the ongoing trend of pulling out the debit card in preference to our credit cards, cash or cheques. The one exception is online where we are much more likely to use our credit cards - which makes sense because of the extra consumer protection they provide."
However, some experts say that funding your Christmas with credit cards is not always a good option. You can compare it with other cheap options available in the market like personal loans, etc.
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