CREDIT CARDS
Credit Card Users Seek Better Returns
Just 21 percent of the nation’s spending goes on credit cards, new figures show. Compare credit cards online to reap rewards for sensible spending.
Almost half of respondents in a Sainsbury’s Finance study said they receive no loyalty points for their spending.
Men were shown to put slightly more on their credit cards as their typical expenditure equated to 22.6 percent of their monthly outgoings, compared to 19.7 percent for women.
“There is a lot of competition in the credit card market, so there are some very attractive propositions out there,” said Stuart McKeggie, head of Sainsbury’s credit cards.
“Shoppers need to make sure they are making their card work hard for them and are getting a reward every time they shop.”
The 18-24 year olds were shown to spend the least of their outgoings on credit cards with the average spending amounting to 15 percent of their outgoings being put on cards, while 24 percent of card holders said they spend nothing at all on them.
Pensioners were the best in finding good loyalty schemes on credit cards with only 37 percent reporting they get nothing from their providers. This is compared to 56 percent of 18-24 year olds who get no loyalty points.
Compare Credit Cards Online
It is easy to compare credit cards online to find a deal which will suit your pattern of spending, as getting rewarded for being in the plus is a good incentive for many to remain so and prevent overspending.
Another way to help you budget your outgoings is to use a prepaid credit card instead, where the money you have ring-fenced for use on certain everyday purchases is loaded onto the card to be used for transactions.
When you have spent the amount on the card it will not allow you to spend more so preventing you from dipping into a high interest overdraft, and possibly getting into debt.
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