Credit card users urged to plan holiday spending

12 September 2006
Brits are being warned to take care with their credit card when on holiday, as this year we spent over £9 billion abroad on our credit cards, according to moneysupermarket.com.

The website found over half (57 per cent) of UK travellers using credit to finance their holiday spending, with the average credit card bill at the end of the holiday coming close to £800.

One in ten Brits abroad (nine per cent) spent over £1,000, with another five per cent coming home to a credit card bill of over £2,000.

Rob Kenley, head of credit cards at moneysupermarket.com, said: "If you are one of the 41 per cent of credit card holders who fail to clear their balance at the end of each month you would be wise to transfer your debt onto one of the 49 zero per cent balance transfer deals available in order to minimise the amount you will pay in interest."

He added that to make a credit card transfer work best, borrowers should make plans to save up the balance so they can clear it before the zero per cent deal ends.

Most credit card transfer deals charge a percentage fee, but this is usually much less than leaving outstanding debt on a standard credit card rate.

To read more about credit cards click here.

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