Top Christmas purchases made on credit cards - including presents and food
Presents (89%), food (58%), and travel expenses (40%), are the top Christmas-related expenditures that Brits pay for – using a credit card, research has found.
Over a third of Brits (36%) have used credit or finance options to stagger festive expenditures, typically put almost £300 of holiday purchases onto a credit card. For two-thirds (68%), this is because they feel it is important to spread their costs at this time of year.
The poll of 2,000 adults, who celebrate Christmas, also found that 73% are on the hunt for bargains in the run-up to the big day – with 47% saving up coupons and vouchers to help them pay for all the yuletide necessities.
Meanwhile, six in 10 make the most of the post-Christmas sales, starting their Christmas shopping for the next year while items are discounted ahead of the new year. And 24% like to maximise Black Friday opportunities in late November and early December.
As a result, 30% feel like Christmas is really a year-long event, with all the planning and preparation that goes into it. And come December, 33% said this is when the pressure of planning for Christmas really ramps up.
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And six in ten take advantage of the sales immediately after Christmas (BlackJack 3D/Getty Images)It also emerged that over half of those polled save money all year, specifically to cover the Christmas costs, with many putting cash aside from as early as January. Of those who do so, 71% believe they would find it tough to afford the festivities if they didn't save early.
However, exactly a third of those who have used credit or finance for Christmas spending, have cleared the debt at the earliest possible opportunity, come January – with a further 25% settling theirs before the summer starts.
The research was commissioned by John Lewis Partnership Credit Card, which is currently offering customers £40 in vouchers to spend in-store and at Waitrose when they open an account.
Jason Morrey, from the retailer's finance arm, said: “Christmas has transformed into a year-long financial event, encompassing months of anticipation, planning, and preparation. The careful attention to detail has extended the joy of the season throughout the year, allowing us to curate an exceptional Christmas celebration.
“But at the heart of all of this is the money we can afford to spend on the celebrations – and it’s clear that many are focussed on setting themselves up as early as possible to put Christmas on.”
But 37% simply gift vouchers they have accumulated throughout the year (Carol Yepes/Getty Images)It also emerged that 62% find themselves time-poor as they get closer to the big day, and try to avoid the December rush – as more than a fifth (22%) say their festive social calendar is filled by October, locking in four gatherings, on average.
Meanwhile, 37% buy presents between late summer and autumn – with 57% saying that finding the perfect gifts for friends and family, within budget, is the most stressful part of the season. However, 37% simply gift vouchers that they have accumulated throughout the year, according to the OnePoll.com data.
Jason Morrey, from the John Lewis Partnership Card, which is also offering 0% interest for the first six months, so customers can spread the cost of Christmas, added: “Now, more than ever, it is crucial for people to plan their Christmas expenses in advance.
“By mapping out their budgets early, individuals and families can make the most of spreading the costs over time, avoiding last-minute financial strain.
“This approach not only brings financial peace of mind, but also ensures that the holiday season is filled with the warmth of celebration and togetherness, without the worry of financial burdens.”
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