Sainsbury's Credit Cards says Christmas billions still to go

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Sainsbury's Credit Cards says Christmas billions still to go

Mon 19th Dec 2005

Christmas may be waiting round the corner but Brits are still set to spend billions before the holidays, according to Sainsbury's Credit Cards.

Research by the company shows that another £9.59 billion will be spent during this week, almost two billion more than last year.

Around £1.82 billion of this month's last-minute spending will be placed on credit cards, but only 45 per cent of Brits expect to clear their Christmas debt by the end of January.

Donald MacLeod, Sainsbury's credit cards manager, said: "Credit cards provide a convenient way in which to do your Christmas shopping but if you are unsure whether you will be able to clear your balance in January, you may be better off spreading the cost with a card that offers an introductory rate of zero per cent annual percentage rate [APR] on purchases."

The Sainsbury's Bank standard and platinum credit cards come with an introductory APR of zero per cent.

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