One in five Brits plan to bag a Black Friday bargain**** with s**hoppers anticipating spending an average of £227 buying discounted items this year**
Nearly a third of those who will be shopping will put their Black Friday spending on a credit card****
With just under two weeks to go until the shopping bonanza hits our high street, Uswitch.com highlights the best credit card deals currently on offer for consumers.
Research conducted by Uswitch.com, the price comparison and switching service, has found that one in five British consumers are planning a splurge on Black Friday – the American phenomenon which marks the beginning of the festive shopping season – on 25th November 2016.
With the average Black Friday shopper looking to spend in excess of £225 on bargains, this American innovation is now an important day for retailers in the UK, with a predicted £5 billion to be spent over the course of the week leading up to it this year.
Uswitch.com research shows that a third of those spending big on Black Friday are likely to do so on a credit card. For savvy consumers, picking the right card, such as one with a long 0% interest on purchases, can help spread the cost and ensure that you aren’t negating the discounts by paying out interest on your spending.
Tashema Jackson, money expert at Uswitch.com, says: “Black Friday is now big business on both sides of the Atlantic and a great opportunity for people to grab a bargain – whether that is a new TV for the family to enjoy the heavily anticipated Christmas TV schedule or bagging the latest console as a present for a loved one.
“For shoppers who are going to use a credit card to pay for their spending, a little bit of research can make a huge difference to how much you have to repay. There are a number of good deals available at the moment, allowing people to spread the cost, or earn cashback on their spending.
“As ever, remember that whenever you take out any credit, to be sure you’ll be able to pay back everything you borrow and that it will have an impact on your credit rating.”
Uswitch.com’s top three recommended credit cards
Best credit card with 0% interest on purchases
Virgin 30 Month Purchase Credit Card
30 month 0% interest on purchases
18 months 0% for balance transfers and money transfers
4% money transfer fee in first 60 days, 5% thereafter
99% balance transfer fee in first 60 days, 5% thereafter
Best cashback credit card
American Express Platinum Cashback Everyday Credit Card
Earn 3% cashback (up to £15) on Amazon purchases within the first 3 months of taking out the card*
5% cashback in your first three months (up to £100)
Up to 1% cashback thereafter
Best all rounder
Halifax 26 Month Balance Transfer Credit Card
26 month 0% interest on purchases
26 month 0% on balance transfers
95% effective balance transfer fee for first 90 days, 3% fee thereafter
For more information visit Uswitch.com or call 0800 093 0607
FOR MORE INFORMATION
Rory Stoves
Phone: 020 3872 5613
Email: rory.stoves@uswitch.com
Twitter: @UswitchPR
Notes to editors
Notes to editors *Offer available until 31 Jan 2017 All research referred to was conducted by Opinium between 8th November and 10th November 2016, 1,853 adults were surveyed.
When asked ‘Do you intend to do any shopping this Black Friday?’ 20.8% said ‘Yes’
When asked ‘How much will you spend when Black Friday shopping this year?’ The average was £227.28.
When asked ‘How will you pay for your Black Friday shopping?’ 31.6% of people said ‘I’ll use an existing credit card’.
Global digital commerce consultancy Salmon, predicts that over the course of the week around Black Friday, £5 billion will be spent in the UK. https://www.salmon.com/en/black-friday/
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