July 25, 2006

By Peter Kenny

The latest information from Halifax credit cards show that during this blistering hot summer we have all had, credit card spending patterns have developed a somewhat ‘Mediterranean’ feel.

It seems many of us do not see the need to travel abroad for our holiday break this year as figures show the level of credit card spending on travel and vacations has dropped by 5 per cent.

Alternatively, it seems more people this summer are using their credit cards for garden improvements. Figures show that credit card spending on garden improvements has risen by 5 per cent in the space of a week.

The warm weather also seems to be affecting our appetites as credit card expenditure on food and drink for our home has shown a massive increase of 7 per cent in the last week. At the same time we have also been treating ourselves to eating out with an increase of 3 per cent showing.

This increase on all things outdoors also has a flip side with spending on household items like carpets and furnishings showing a dip of 15 per cent. Shopping for new clothes decreased by 7 per cent compared to the previous week in July.

Ian Larkin, head of Halifax Credit Cards, said, "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."