Credit card firm states that billions will be spent this summer

August 6, 2008

According to a recent report from Sainsbury’s Credit Cards British shoppers are set to spend billions of pounds this summer, and despite the global credit crunch and the financial strains that many households are facing sales are expected to be only slightly lower than last year. Officials from Sainsbury’s Credit cards have said that consumers will spend around £7.89 billion this summer, with some tightening their belts only slightly as a result of financial strains.

A survey was recently carried out by Sainsbury’s Credit Cards, and showed that over twenty five million consumers will spend an average £305.90 each as the summer sales this year, and around 3% of adults in the UK are set to spend over £800. It is thought that close to half of the money that is spent in the summer sales will be put on credit cards, with around 11% of consumers planning to put the cost of some or all of their purchases on their plastic cards.

An official from Sainsbury’s said that those planning to spend on their credit cards in the summer need to make sure that they get a card that suits their spending and repayment habits. He said: "If you are going to use a credit card in the summer sales, it pays to use one that gives you attractive rewards that are not only easy to collect but also redeem so that you really are earning whilst you spend and getting a little back."

Sainsbury’s has recently launched a new credit card that enables cardholders to earn Nectar points with their spending, as well as a number of other benefits such as interest free credit on purchases for an introductory period.

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