19 November 2008
Consumers could boost their spending power this Christmas by using a credit card that offers cashback and other rewards, it has been claimed.
According to American Express, less than half of the UK's credit card holders own a reward card and the rest are missing out on cashback, money off vouchers, air miles and reward points.
With 52% of consumers planning to cut back their spending this Christmas, the extra money could come in handy, the credit card provider claims.
Tom Allder, Vice President of UK Lending at the firm, said: "In the current environment it makes sense for people to look for ways to make their money go further."
American Express also found that one in ten of those who do earn cashback on their credit cards put it towards the cost of Christmas.
Figures from the UK payments association Apacs show that 172,706 credit card transactions were carried out by UK consumers in September - up 9.4% on the previous month.