Friday 16th November 2007
Credit cards are to account for a third of plastic-based spending in the run-up to Christmas, it has been claimed.
Figures from UK payments association Apacs reveal that £11.7 billion is likely to be made on credit cards, compared with £22.4 billion on debit cards.
This represents a 14.3 per cent increase in debit usage, while credit cards are 2.3 per cent more popular.
Director of communications Sandra Quinn asserts that the internet is a likely source for this growth.
"Whether buying the turkey or stocking fillers, were most likely to be using our debit card to pay for them this Christmas," she comments.
"The one exception is online where we are much more likely to use our credit cards - which makes sense because of the extra consumer protection."
Industry body IFA Promotion found that more than a fifth (21 per cent) of Britons resolved to tackle their finances at the start of 2007.
But more than a quarter gave up on their new years resolution before the end of January.
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