Majority of people still don't save on holiday spending, Say the
Co-op
Released
on: September 16, 2008, 7:55 am
Press
Release Author: Co-operative
Bank
Industry:
Financial
Press
Release Summary: With the recession looming many are looking for
ways to save money. This however doesn't appear to have slowed
down holiday spending.
Press
Release Body: At the start of summer holidays, as many people
begin their travels abroad to sunnier climes, new research* by
The Co-operative Bank Credit Cards has shown
that despite fears over rising inflation most people (53%) will
not be curbing on their holiday spending this year.
Many
spend before reaching there destination, where on average people
spend £18 each before even boarding their flight, which
equates to £72 for a average family. Most people spend this
on food and drink (84%), next came books and magazines (60%),
3rd was duty free (35%), 4th last minute essential’s (17%)
and last was currency exchange (4%).
In
addition the research also highlights that this year over than
three quarters of people (77%) are planning to pay for at least
part of their holiday on their credit card.
Maxine
Xodo, Product Manager for Credit Cards at The Co-operative Bank
says, "The findings clearly show that despite the current
economic climate, after working hard all year many people are
reluctant to cut back on their summer holiday spending. However
as more people are putting holiday spending on their credit cards,
it pays to make sure they are getting the best deal for their
needs."
The
Co-operative Bank offers a fixed rate platinum card,
with a low fixed rate of 9.9% APR typical variable for the first
five years.
In
addition to this the card provides people with access to a large
amount of benefits when travelling this includes up to £100,000
free travel accident insurance when the card is used to pay for
travel tickets, 24 hour medical and legal assistance overseas,
as well as money off on holidays, travel, airport parking, airport
hotels and car hire.
Maxine
Xodo, adds, “When travelling either home or
away this summer, this card offers customers a wide range of market
leading travel benefits, with no annual fee to pay as well as
peace of mind that the low rate they sign up to will remain fixed
for five years."
More
details of the card are as follows
- A low fixed rate of 9.9% APR
(typical variable) for the first 5 years
- Up to 46 days interest free credit
- Free 90 days purchase protection insurance
- Card replacement service and emergency cash
- 24 hour medical and legal assistance overseas
- No annual fee
- Up to £100,000 free travel accident insurance, when the
card is used to pay for travel tickets
- Travel benefits including discounts on holidays, travel, airport
parking, airport hotels and car hire.
ENDS
Notes to Editors:
For media purposes only
*Research
carried out in June 2008, amongst a panel of 1,000 Co-operative
Financial Services customers
Customers wanting further information
should call 0800 731 9474
The
platinum credit
cards are available to people over the age of 25, with an
income of over £25,000.
Full
product details are as follows:
- 9.9% APR (typical variable)
for the first five years
- 9.9% Purchases
- 9.9% Cash
- 9.9% Cheques
- 9.9% Balance transfers (excludes balance transfers from other
Co-operative Bank credit cards)
- Up to 46 days interest free period if balance is paid in full
by the due date (purchases & balance transfers)
- Minimum repayment 2% of outstanding balance or £5 (whichever
is greater)
- Minimum credit limit of £500, maximum credit limit subject
to status
- No annual fee
Web
Site: http://www.cfs.co.uk
Contact
Details: The Co-operative Bank - personal
Customer Services
PO Box 200
Delf House
Southway
Skelmersdale
WN8 6GH
2009
