Many people aren't saving on holiday costs this year
Released
on: September 4, 2008, 11:55 am
Press
Release Author: Co-operative
Financial Services
Industry:
Financial
Press
Release Summary: With a recession looming many are watching the
pennies. Research shows this doesn't seem to be the case with
holidays this year.
Press
Release Body: At the start of the school holidays, as most start
there travels abroad, new research* by The Co-operative
Bank Credit Cards has shown that even though most are
worried over rising inflation the majority of people (53%) will
not be watching the pennies on their holiday expenditure 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%), after this 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 embolds that this year more than three
quarters of people (77%) are planning to pay for a period of their
summer break 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 everyone with access to a large
amount of travel benefits 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."
Full
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 card is available at
www.co-operativebank.co.uk/servlet/Satellite/1193206374589,CFSweb/Page/Bank-CreditCards
they 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:
www.co-operativebank.co.uk/servlet/Satellite/1193206374589,CFSweb/Page/Bank-CreditCards
Contact
Details: Catherine Turner
The Co-operative Bank - personal
Customer Services
PO Box 200
Delf House
Southway
Skelmersdale
WN8 6GH
0161 903 3833
catherine.turner@cfs.coop
2009
