Virgin Credit Card: Spenders return

Wednesday, 17 June 2009 12:00

Virgin is promoting its zero per cent credit card as it releases figures showing people are starting to spend again.

More people have been splashing out on trips to bars, cinemas, restaurants and theatres in the first three months of 2009 with £20 million being spent on these pursuits, the firm has found.

This compared to £16 million in the same period last year and means spending on going out has climbed by 25 per cent, according to Virgin.

Its figures show a rising trend for paying for entertainment costs on credit cards, with 6.7 per cent spent in bars, restaurants, cinemas and theatres put on to plastic.

Grant Bather, spokesman for Virgin Money, said the news showed a sign of return in confidence.

He added: "The effect of late Easter this year may have boosted spending as people have gone out of the long weekend but this is an indication of some green roots if not quite green shoots."

The Virgin Credit Card is currently offering zero per cent per annum on purchases for three months and zero per cent interest on balance transfers to new customers.

After this the typical rate of interest on the card is 16.6 per cent APR variable.

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