Over 75% of people 'plan to pay for holidays on credit cards'
Published on : 25/07/2008
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Over three-quarters of people are planning to use their credit card to pay off at least part of their holiday, according to new research.
The study by Co-operative Financial Services found that 77 per cent are expecting to make the move, while 53 per cent also do not intend to cut back on overall spending when heading on a break.
In addition, it was revealed that people spend an average of £18 at airports before boarding planes.
Maxine Xodo, product manager for credit cards at The Co-operative Bank, said: "The findings clearly show that despite the current economic climate, after working hard all year many people are reluctant to cut back on their summer holiday spending.
"However as more people are putting holiday spending on their credit cards, it pays to make sure they are getting the best deal for their needs."
Recent research by Sainsbury's Bank found that a large number of people who are registered on credit card loyalty schemes do not redeem rewards through them.
