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Credit cards can be 'flexible and user-friendly'
27 June 2008
Credit cards can offer consumers a flexible and user-friendly way of managing their finances, according to an industry expert.
Donald McLeod, head of cards at Sainsbury's Credit Cards, has claimed that consumers can use credit cards to make purchases that they can then repay later without interest.
"A credit card is an incredibly flexible and user-friendly way of managing your finances," he said. "It gives a line of credit that allows me to buy things and pay them off without lots of user charges."
Mr McLeod added that credit cards give flexibility in terms of "spending responsibly" and allows people to make purchases before they get paid.
Recent research by Sainsbury's Credit Cards has shown that 42 per cent of people's summer spending will be on credit cards, with the highest rate of spending in the south east of the country.
The average purchase amount for each person in the summer sales will be £305.90, while three per cent of respondents said they would pay out over £800.
