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Loan Protection: Britons spend fifth of outgoings on credit cards

UK consumers are spending around a fifth of their monthly outgoings on their credit card, according to new research.

A survey conducted by Sainsbury's Finance has revealed that Britons spend around 21.2 per cent of their outgoings, excluding rent and mortgage payments, on their card every month.

The research found that men spent more, with typical card expenditure hitting around 22.6 per cent, compared with 19.7 per cent for women.

Furthermore, around half (46 per cent) of respondents did not earn any loyalty points for their spending.

Stuart McKeggie, head of Sainsbury's credit cards, advised consumers to join a scheme which will reward them for their loyalty.

He said: "There is a lot of competition in the credit card market, so there are some very attractive propositions out there.

"Shoppers need to make sure they are making their card work hard for them and are getting a reward every time they shop."

Posted by Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers. ADNFCR-2776-ID-800244784-ADNFCR

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