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Just when many analysts had come to terms with the 3.5% rise in retail sales in May and the fact this did not seem correct, June has seen a fall of 3.9% in sales – the worst fall in 22 years. The...
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Thursday 29th November 2007
Christmas shoppers from across the UK have been warned to take care over how their use their credit cards this year.
Research by Moneyfacts recently found that the fees associated with a number of credit card deals in the UK are increasing and the company's head of personal finance Samantha Owens suggests that the impact of this will be felt by UK consumers.
Ms Owens insists that credit card users ought to be careful about how much money they borrow to fund their festive spending and makes clear that drawing money out with these cards can be expensive.
"If you go to a shop that doesn't accept a credit card, don't go to the cash machine and withdraw cash off your credit card just because, not only are the interest rates a lot higher than what you get on purchases - but you also get charged from the day that you take cash out," she commented.
The UK's payments association Apacs recently predicted that British consumers would spend a collective total of around £11.7 billion on their credit cards over the course of next month.
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