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Christmas Card Spending Up 35%
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Britons are planning to spend 35 per cent more on their credit cards this Christmas than in 2005, according to a new report.
The Morgan Stanley survey indicates that the average Briton plans to put £1,270 on their cards in the 2006 festive period, compared to £940 during last year's Christmas season. In addition to this, men are planning to spend 20 per cent more than women with their cards- £1,417 compared to £1,131 for women. But repayment figures are also on the up, suggesting that Britons are learning the lessons of debt and insolvency that have been so highly publicised in recent months. Card spend will focus on a variety of categories, including home and cars, groceries, holidays and even Christmas parties. "Cardholders are becoming increasingly savvy when it comes to being rewarded for the purchases they make and with a raft of schemes available, from collecting points to cashback, spending on credit cards is becoming more appealing than paying by other methods," said Patrick Muir, Morgan Stanley Credit Card marketing director.
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