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Credit cards used more by men


By Simon O'Hare

Male shoppers are more likely than women to use credit cards to fund their Christmas shopping this year, according to the latest research.

Most people will use their current accounts to pay for the festivities, the AA/Populus survey found.

However, around 4 in 10 people will also use credit - and this will be more common among men (43 per cent) than women (39 per cent).

Older shoppers spending with credit cards

Older shoppers also appear more likely to put Christmas spending on their credit cards, the poll suggested.

Almost half of those aged 65 and over doing so, compared to fewer than one in three under-35s.

A regional breakdown of the survey showed shoppers in London are also more likely to use a credit card to pay for Christmas, with almost half saying this is what they plan to do.

Meanwhile, 25 per cent of people expect to dip into their savings and 15 per cent will also redeem points or vouchers to pay towards the Christmas costs.

Shoppers buying Christmas gifts with credit cards

AA Financial Services director Mark Huggins said: "The run-up to Christmas is pretty frantic for many people who find that a credit card is the easiest way to pay for gifts.

"Especially if they've used a chunk of money from their current account.

"Paying for things with a credit card is an easy option, but you should make sure that you're able to pay it back."

More than a quarter of respondents owe money on their borrowing after Christmas and under-35s are most likely to find themselves in that position, according to the research.

Spend now, then worry later

Around one in five people even admitted they spend what they want at Christmas and worry about it later.

In contrast a similar proportion admit they fret about the costs and have no idea how they will pay for everything.

"Thankfully, only three per cent overall say that they expect to land themselves with more than £500 to pay off on credit cards after Christmas," Huggins added.

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