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Credit cards 'can help people manage their finances'

By Sarah Engle, Fri 27 Jun 2008 - Published in Credit Cards

Buying with credit cards is a flexible way to manage finances, according to Donald McLeod from Sainsbury's.

He said it was a simple way of getting a line of credit, paying for items without incurring interest charges and earning loyalty points with certain shops.

Mr Mcleod added: "In terms of spending responsibly, if you're looking to buy something for £1,000 - a piece of furniture or a couple of white goods this weekend - the card gives you the flexibility."

He said that people were then free to repay the money borrowed on payday.

A survey from Apacs, the trade payments association, shows 62 per cent of Brits had at least one credit or charge card last year. Of those, each person had on average 2.4 credit cards and 1.6 debit cards.

Sainsbury's own research recently found that people in the UK intend to spend an average of £305.90 on summer sale items this year with three per cent planning on splashing out more than £800.