Sainsbury's Bank: Credit Cards popular for everyday use

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Sainsbury's Bank: Credit Cards popular for everyday use

Mon 15th Dec 2008

Research by Sainsbury's Bank has revealed that many Brits would rather use their credit cards for everyday purchases than cash or debit cards and then pay off the full balance every month.

According to the bank there are 7.55 million of these everyday credit card users, who spend a total of £3.64 billion on their cards every month.

The average monthly spend for one of these individuals is £483 and Sainsbury's recommended that everyday credit card users search for a card that rewards them for their purchases.

Donald MacLeod, head of cards at Sainsbury's said: "Although we'd never advocate people using their credit cards for everyday inexpensive purchases if they are likely to incur interest, we've identified a number of people who clearly like to use their credit card in the same way as they would cash or debit cards."

Recently, a survey by Halifax found that one-third of Brits will be using their credit cards over Christmas this year to help them cover the cost of purchasing presents.

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