Thursday 28th December 2006
New statistics have been published by Halifax which compare credit cards with cash purchases for protection in the January sales.
Extra peace of mind offered by credit cards is highlighted as one reason why they may be a good option for shoppers looking for a New Year bargain.
Halifax notes that, if a firm goes bankrupt, purchases over £100 and up to £30,000 may be refunded by the credit card provider.
Peter Jackson, head of products at Halifax, said: "It can make a welcome change to buy something for ourselves in the January sales."
"Your rights as a consumer shouldnt change just because an item is in the sale," he added.
Up to 57 per cent of shoppers are expected to pay for purchases by debit card in January, while 38 per cent said they intend to use a credit card.
Credit card statements were also noted as proof of purchase if original receipts are lost, adding a further layer of protection.
Halifax says it is currently offering a 12-month interest-free period for credit card balance transfers to its Halifax One card.
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