Cash-conscious Brits 'booked last minute breaks'
Friday, 03 September 2010 12:00
Around 1.28 million people waited until the last minute to book their summer holiday this year in order to save some cash, new research has found.
Sainsbury's Credit Cards said 528,000 only confirmed the details of their break a week before jetting off, while 290,000 snapped up deals that gave them just 48 hours to get packed.
The lender said the typical price of a last minute seven-day getaway in Spain was £670 this summer, while a similar holiday in Italy cost £956.
Overall, Sainsbury's said credit card spending on vacations will be worth £5.46 billion this year, the equivalent of each person putting £424.50 on their plastic.
However, only 58 per cent using their card to cover holiday expenditure will pay it off within a month.
Sainsbury's Credit Cards head Stuart McKeggie said plastic can be a "great way" to spread the cost of a summer break.
"However, it you don't think you will be able to clear [it] within a month, you should consider taking out a new credit card that offers an attractive interest-free period of purchases," he added.
A recent poll from Bright Grey found that 32 per cent of Britons will get into debt this year to pay for their holiday.
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