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Britons ‘borrow £9bn to pay for holidays’
Saturday, 07 Sep, 2006
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More than half of Britons use credit cards to pay for their holidays, collectively borrowing £9 billion, according to new research.
The average bill was £799, with 9% spending more than £1,001 and a further 5% spending over £2,001, the survey from moneysupermarket.com showed. Around 57% of Britons used credit cards for holidays.
Scots were found to be more cautious, spending £762 each, while people in the South spend £886, Yahoo! News reported.
Young people had an average bill of £549 compared to an average of £900 for the over-50s.
But 41% of cardholders fail to clear their balance each month and could collectively face a bill of £550 million by the end of the year, it was reported.
Report by Phil Davies
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