Christmas credit card spending expected to top £22bn

Retailers have said that the holiday season has been a good one for sales this year, with Australian credit card spending expected to top $22 billion over the period, the Sydney Morning Herald (SMH) reports.

The Australian Retailers Association (ARA) predicted that sales in the fortnight after Christmas will rise by four per cent nationwide, with New South Wales leading the shopping surge, the report added.

Russell Zimmerman of the ARA told the news provider that like last year, people waited until just before Christmas or Boxing Day to make big purchases this year.

’’People like a bargain and good bargains are out there, so we will see a fair bit of catch-up,’’ he said.

According to the SMH, extended store opening hours and possible bad weather could also give credit card purchasing a further boost in the coming days.

The news will encourage bank customers to compare credit cards in order to get the most for their money. Last week a survey by the rival Australian National Retailers Association with American Express predicted that most sale shoppers would spend around $250 each.

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