O Interest Credit Card
O Interest Credit Card
Spending begins at home as temperatures soar
24 July 2006
As Brits across the country become accustomed to temperatures more befitting the Continent - with Wednesday 19th the hottest ever July day in England – Halifax Credit Cards' statistics reveal that our spending patterns have also taken on a more 'Mediterranean' feel.
While the temperature has steadily climbed in the past week, Halifax credit card statisticians have also noted a spending surge relating to entertaining at home or enjoying our gardens.
Heatwave Credit Card Spending Trends:
The proportion of credit card expenditure on food and drink for home consumption increased by 7% last week, with expenditure on eating out also up (3%).
The proportion of credit card spending on home and garden improvement also rose by 5%.
The level of credit card spending on holidays and travel reduced by 5%.
Eating out takes on new meaning
The proportion of credit card spending on food and drink for home consumption rose by over 7% in the space of a week – suggesting that dining al fresco and bringing out the BBQ were the order of the day. The percentage of transactions made with credit cards for eating-in was similarly up 8% - meaning we have been spending more often as well as spending more on this type of purchase.
The number of credit card transactions used for eating-out (e.g. bars and restaurants) also increased by 4%, as did the amount of money we spend on eating out (up by 3%) when comparing the week commencing 15th July with the week commencing 8th July.
There's no place like home…when it's hot
Similarly, the amount we spent on our credit cards on home and garden improvement saw a significant 5% rise in the space of a week – as we rushed to garden centres and DIY stores to get our gardens ship shape for enjoying the sunshine. The volume of home and garden transactions increased by 6% over the same period.
Spending on holidays and travel fell-off by 5% in the third week of July as the temperatures soared and thoughts of far-flung exotic destinations were banished.
Back to Nature
The flip side of our new-found love of everything outdoors was a noticeable dip in credit card spending on other areas.
Spending on household items (e.g. carpets and furniture) using a credit card reduced as a proportion of overall credit card spending – by 15% - and the number of transactions for this type of purchase saw a similar trend.
Shopping for new clothes also seems to have been further from our minds while enjoying the sunshine. The amount we spent on clothing was 7% less in the third week of July than in the previous week.
Ian Larkin, head of Halifax Credit Cards, comments: "We Brits like to make the most of every minute of sunshine we get and a week of unprecedented temperatures seems to have sent us all dashing out to make the most of it."
"However, it is worth checking that your credit card offers a competitive rate before you splash out. The new Halifax One Card offers 0% for nine months on purchases as well as balance transfers which means your summer treats will be interest free until winter has been and gone."
Copyright © 2004-2005 Easier Media Ltd. All rights reserved.
posted by News at 3:59 AM
Spending begins at home as temperatures soar
24 July 2006
As Brits across the country become accustomed to temperatures more befitting the Continent - with Wednesday 19th the hottest ever July day in England – Halifax Credit Cards' statistics reveal that our spending patterns have also taken on a more 'Mediterranean' feel.
While the temperature has steadily climbed in the past week, Halifax credit card statisticians have also noted a spending surge relating to entertaining at home or enjoying our gardens.
Heatwave Credit Card Spending Trends:
The proportion of credit card expenditure on food and drink for home consumption increased by 7% last week, with expenditure on eating out also up (3%).
The proportion of credit card spending on home and garden improvement also rose by 5%.
The level of credit card spending on holidays and travel reduced by 5%.
Eating out takes on new meaning
The proportion of credit card spending on food and drink for home consumption rose by over 7% in the space of a week – suggesting that dining al fresco and bringing out the BBQ were the order of the day. The percentage of transactions made with credit cards for eating-in was similarly up 8% - meaning we have been spending more often as well as spending more on this type of purchase.
The number of credit card transactions used for eating-out (e.g. bars and restaurants) also increased by 4%, as did the amount of money we spend on eating out (up by 3%) when comparing the week commencing 15th July with the week commencing 8th July.
There's no place like home…when it's hot
Similarly, the amount we spent on our credit cards on home and garden improvement saw a significant 5% rise in the space of a week – as we rushed to garden centres and DIY stores to get our gardens ship shape for enjoying the sunshine. The volume of home and garden transactions increased by 6% over the same period.
Spending on holidays and travel fell-off by 5% in the third week of July as the temperatures soared and thoughts of far-flung exotic destinations were banished.
Back to Nature
The flip side of our new-found love of everything outdoors was a noticeable dip in credit card spending on other areas.
Spending on household items (e.g. carpets and furniture) using a credit card reduced as a proportion of overall credit card spending – by 15% - and the number of transactions for this type of purchase saw a similar trend.
Shopping for new clothes also seems to have been further from our minds while enjoying the sunshine. The amount we spent on clothing was 7% less in the third week of July than in the previous week.
Ian Larkin, head of Halifax Credit Cards, comments: "We Brits like to make the most of every minute of sunshine we get and a week of unprecedented temperatures seems to have sent us all dashing out to make the most of it."
"However, it is worth checking that your credit card offers a competitive rate before you splash out. The new Halifax One Card offers 0% for nine months on purchases as well as balance transfers which means your summer treats will be interest free until winter has been and gone."
Copyright © 2004-2005 Easier Media Ltd. All rights reserved.
posted by News at 3:59 AM
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