UK Money News
26th June 2008
Credit cards are 'flexible way of managing money'
Credit cards can be a "flexible and user-friendly way of managing your finances" if used wisely, a card provider has claimed.
Donald Macleod defended the use of credit cards which he said had come in for undue criticism from the press as the cause of mounting consumer debt problems in the UK.
To support his assertion Mr Macleod cited the example of a consumer paying for an item with the card and then paying it back within ten days so as to avoid accruing interest.
In this case, he said the card provides "a line of credit and allows me to buy things and pay them off".
Research conducted by Sainsbury’s Credit Cards found that people intend spending an average of £305.90 on summer sale purchases this year, with three per cent of those quizzed planning to splash out £800.
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