Credit card spending to soar this week

As Christmas Day fast approaches many people are rushing around trying to sort out their last minute Christmas shopping, and many will be doing this using their credit cards. Research has been carried out and the results indicate that many people will be spending on their credit cards this week in the run up to Christmas. The research was carried out by Sainsbury’s Finance.

Many people that have already done their Christmas shopping will have given their credit cards a good airing, but it appears that the consumer assault on credit cards is not over yet, as many are still hitting the shops brandishing their plastic as they rush around to try and get their last minute gifts or try and pick up a bargain in the last few shopping days before the big day.

Officials from Sainsbury’s Finance are now claiming that consumers will spend almost £2 billion on their credit cards in the week leading up to Christmas Day. In total around £6.7 billion is expected to be spent in the run up to Christmas, and just under one third of this will be on credit cards.

The big freeze that has been seen over the past couple of weeks has put people off from hitting the High Streets in the usual way, but has not put people off from shopping. Many will be getting their credit cards at the ready and getting online to order goods from the comfort and warmth of their own homes using their credit cards.

However, those that are planning to make purchases online in time for Christmas need to be conscious of the effect that the weather conditions are having on deliveries, which could result in some deliveries being delayed until after Christmas.

Tags: christmas, High Streets, Business Finance, finance, minute christmas, deliveries, Christmas Day