25 July 2005
People in the UK are increasingly seeking alternative ways to finance their annual holidays rather than putting it on their credit cards, according to new research.
A survey carried out by Norwich & Peterborough Building Society revealed that although people are spending more on average on their vacations, they are choosing to save rather than swipe when it comes to paying for it.
Of those questioned, 44 per cent of holidaymakers said that they will spend between £1,000 and £5,000 on their annual holiday.
But 63 per cent said they would use savings and cash to finance it, as opposed to 27 per cent who use their credit cards.
The decline of zero per cent balance transfer offers on credit cards has encouraged people in the UK to shop around for different cards, and for alternative products which can prove cheaper and more suitable to individual needs such as personal loans.
Compare all UK personal loans at uSwitch.com and find the one to suit your needs.
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