Sainsbury's Bank: January sales could mean credit card deals - 02/01/2008

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The January sales could provide a good opportunity to find a better deal on a credit card, the head of cards at Sainsbury's Bank has suggested.

According to Donald MacLeod, the new year is an ideal time for people to take stock of their current financial situation and work out ways to spend their money more wisely.

He said that among the financial resolutions he recommends people to make for 2008, paying at least the minimum balance on a monthly credit card bill is one of the most important.

"The other thing is to look around and see whether there are better deals than what you're currently getting from your provider, and that may well offer you an opportunity to reassess your costs," Mr MacLeod explained.

He added that with a number of cards now carrying loyalty-based rewards programmes, consumers may be offered a good post-Christmas deal in a credit card.

"If you want to take advantage of the January sales then look to getting a card that has a reward to it as well," he concluded.

According to UK payments association Apacs, some £61 billion was spent on credit and charge cards in 2006, with an average of 2.4 credit cards per person in issue.

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