Online spending through Christmas period reaches sky high

20/12/2007

Credit card spending online during December has reached £2.1 billion.

Sainsbury's Bank association reported that many individuals are scheduling to squander £11.85 billion during the Christmas period, this £2.7 billion more than last year.

The Fair Investment Group are pressuring credit card companies to make sure consumers are getting the finest credit card deals.

Online sales have caused cardholders to use their credit and debit cards more, leaving city retailers losing out on profit, however these retailers plan to cut their price on products to get back their customers.

Director of Fair Investment, James Caldwell commented: "Falling house prices and rising living costs, the boom in online activity goes to show that British shoppers are still determined to celebrate this Christmas.

"However, with 18 per cent of the anticipated £11.85 billion of the last minute spending going onto consumers' credit cards, it is not too late to try and make the most of some of the deals on offer by card companies."

Mr Caldwell added: "Avoiding unnecessary interest charges will hopefully go some way to ensure that consumers don't end up with a financial hangover in the New Year."