Friday 27th June 2008
Credit cards offer consumers a "flexible and user-friendly" way of managing their finances, it has been suggested.
Donald MacLeod, head of cards at Sainsburys Credit Cards, said that despite press reports to the contrary, plastic gives customers the option of "sensibly" buying and paying things off while avoiding lots of user charges.
"In terms of spending responsibly, if youre looking to buy something for £1000 - a piece of furniture…the card gives you the flexibility of making that purchase…and paying it off when you get paid," he asserted.
Mr MacLeods comments follow the release of recent research by Sainsburys Credit Cards which found that people intend spending an average of £305.90 on summer sale purchases this year.
Some 42 per cent of this purchasing would be placed on credit cards, including Mastercard and Visa, the study found.
In 2006, spending on plastic cards in the UK amounted to £354.2 billion, figures by Apacs revealed.
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