AA notes credit card debt consolidation issue

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AA notes credit card debt consolidation issue

Consumers have been advised by the AA that they could save money by buying expensive items before the VAT rise and utilising interest-free accounts to pay them off over a long period of time.

Mark Higgins, director of the group's financial services division, pointed out that people could use one of the company's credit cards to receive ten months with zero per cent interest on purchases.

He added: "The credit card market ... has some top offers that can help buyers through the Christmas period and help to cope with the January 2.5 per cent VAT rise pain."

The AA claimed retail sales are currently £110 million a day down on the same period of 2009, with some commentators suggesting the winter weather has not helped shops.

This week, the company's insurance branch revealed that claim volumes have doubled as a result of the ice and snow, with 70 per cent of such calls saying the conditions contributed to an accident.

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