Abbey Predicts Big Card Spend on Holidays

By Peter Wakeford
Published on 24 Sep 2008
AddThis Social Bookmark Button
Abbey Predicts Big Card Spend on Holidays

British families will be getting over the cool, wet summer by jetting off on holiday - and using credit cards to pay for them.

Many Britons will be building up credit card debt this winter - by taking luxury holidays.

According to a new report from Abbey Credit Cards, released today, one in three people are planning to take a trip this autumn or winter. These holidays will cost the consumer an average of £550 per person - with £195 of this total going on credit cards.

Collectively, the off-season holiday spend will come to around £8 billion. Abbey suggested that the cool, rainy summer could be a factor behind the large amount of trips currently being planned.

Indeed, six percent of people polled by the firm said that the disappointing weather meant that they were now booking their first holiday in three years - with many of them financing this spend through their cards.

Callum Gibson, head of Abbey Credit Cards, commented: "Clearly many Britons are in need of escaping our gloomy weather and heading overseas [but] if you are heading abroad this winter then it's important to consider how you can make your money work harder."

Abbey also said that the age group most likely to be going on holiday this winter was 55 to 64-year-olds. Moreover, this group was also the most likely to splash out, with around one in four spending over £1,000 on their trips.

Compare Credit Cards via money.co.uk

Money Saving Newsletter

Already registered? Login Here

Email:

We will NOT pass your details on to any third party.

See some of the recent tips you could have benefited from.

Your privacy:

Read our privacy policy.
We are registered with the Data Protection Act (1998): No. Z6245956
details
We are regulated by the Financial Services Authority: No. 415689
details



Add Your Comment

Name: 
Comment: 
You have 1000 characters left.

Latest Credit Cards Articles & News

Credit Cards Articles

Contactless Cards Hit New Milestone
Contactless Cards Hit New Milestone

More and more people are using cashless payments - with coffee the most popular item being purchased.

Agreement Reached on Credit Card Help
Agreement Reached on Credit Card Help

The credit card industry has reached an agreement with the government on helping customers who are struggling with their finances.

Mandelson Warns Credit Card Companies
Mandelson Warns Credit Card Companies

The business secretary has warned credit card companies that they will face action if they do not treat people fairly.

Credit Card Industry Launches Data-Sharing Initiative
Credit Card Industry Launches Data-Sharing Initiative

A data-sharing initiative aimed at identifying customers who are in danger of getting into financial difficulties has been launched by the credit card industry.

Consumers 'Missing Out' on Christmas Cashback
Consumers 'Missing Out' on Christmas Cashback

Cashback credit cards could boost spending power this Christmas, it has been suggested.

September Sees Jump in Card Spending
September Sees Jump in Card Spending

Consumers are spending more on plastic, figures show.

Brown Urges End to Irresponsible Credit Card Lending
Brown Urges End to Irresponsible Credit Card Lending

Credit card companies may be summoned to Number 10.

Visa Looks to Tackle Card Not Present Fraud
Visa Looks to Tackle Card Not Present Fraud

A new credit card with extra security features has been launched by Visa.

Popular Related Articles

Savings Providers 'Planning Rate Cuts'
Savings Providers 'Planning Rate Cuts'The Bank of England's recent interest rate reductions are being reflected by savings account providers.

Latest Related Headlines

Volatile Market Conditions 'Will Continue'
Volatile Market Conditions 'Will Continue'Big daily rises and falls on exchanges are expected to continue until next June.

Other Money Headlines

Pension Act 'Impacts on Income Protection'
Pension Act 'Impacts on Income Protection'An insurance provider has warned that the new Pensions Act may impact income protection policies.
RSS FeedCredit Cards News
RSS FeedLatest Headlines
Free Services Money Saving Newsletter
The best money saving deals, freebies, rate alerts and advice emailed to you every week.
Enter your email:
Find Companies Credit Cards Guide RSS Feeds - Subscribe!
The "advice" given in our money saving tips is for information purposes only and should not be construed as "financial advice".
money.co.uk recommends you seek professional advice before proceeding with any investment or financial decision.
Site Map | Privacy Policy | About Us | Contact Us
money.co.uk is a trading name of Dot Zinc Limited, who are authorised and regulated by the Financial Services Authority. FSA Registration Number: 415689.
Copyright © www.money.co.uk / Dot Zinc Limited 2002-2008. All rights reserved.
Home | Login | Sign Up