Monday 27th March 2006
Consumers searching online for credit cards should take their spending habits into consideration first, according to Egg.
The credit card company has warned that people should work out how much they can afford before choosing a card, as spending habits vary as widely as credit cards do.
Mark Maguire, spokesperson for Egg, advised that people using their card on a daily basis should consider a cash back deal or at least a low purchase APR offer.
Highlighting the need to budget before shopping around online, Mr Maguire said: "Some things are predictable, such as your mortgage, and some things are more sporadic, such as restaurants.
"If you know how much you will have after bills, then you will know what you can spend and also where you can make savings."
According to a survey conducted by Egg, some 22 per cent of credit card bills are made up of day to day spending, with Eggs retail therapy index finding that, at £65 billion a year, Brits spend more on daily lifestyle purchases than on expensive items such as holidays.
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