Credit cards 'instil the impulse to buy' - 24/01/2008

Excellent! Very Good Good Fair Poor

Why not be the first to rate this article?

The ease with which items can be bought using a credit card moves 21 per cent of Britons to make impulse purchases, according to a new study.

Credit cards were a key motivation for unplanned shopping for about a fifth of respondents to swiftcover.com's poll, while the ease of online shopping persuaded 26 per cent to buy.

Some 14 per cent of those surveyed claimed not to look at the price of items they purchase and 15 per cent have realised they could not afford something after having paid for it.

The company is using the study to highlight the importance of being aware of returns and refund policies when shopping.

Citing the seven in ten respondents who admitted to not reading returns policies before handing over their money as evidence of a worrying trend, the online service states that UK consumers need to hone their shopping skills.

"Whether it's a pair of killer heels, or the latest 'must-have' gadget, it seems that we're addicted to spending now, paying later," notes the site's Tina Shortle.

"But that means that we've also dropped our guard when it comes to 'sensible' habits like shopping around and as a result we are getting stung by shops' returns policies."

The British Insurance Brokers' Association has called for the Financial Services Authority to review the system of regulating price comparison websites.

© Adfero

Back to Index