Brits turn to credit cards when booking holidays | Questor Insurance

Brits turn to credit cards when booking holidays

Credit CardA staggering 14 million UK adults have taken or booked holidays using their credit card already this year, recent data has shown.

Spending billions on credit as a country, 38% of British holidaymakers chose to pay for their trips in this way; presumably driven by lack of available funds or desires for greater financial security on large purchases.

Managing repayments

While credit cards offer instant access to additional funds that may be required to complete a holiday booking, the research shows that travellers could spend longer than expected paying it back.

Most borrowers expect to have settled their debt in as little as four months but in reality 34% take at least six months to do so and 11% take more than one year to fully repay their borrowed cash.

With regards to the amount borrowed, 5.85 million tourists borrowed over £1,000 to fund their holidays while a further 1.07 million used credit worth £3,000 or more.

Some individuals even spent as upwards of £5,000 – 357,522 people to be exact.

Pay4Later, the firm behind the research, also found that England’s North West contained some of the country’s most prolific credit card spenders.

Here, 40% of individuals had already taken or booked holidays with their credit card – 2% higher than the national average of 38%.

In actual terms, this equates to 14.21 million adults paying for part or all of their holiday with credit.

The average amount spent by holidaymakers from the North West was £1,130 and meant that as a region a collective £16.1 billion was put on plastic for holidays.

Planning your holiday

This data shows that credit is becoming an increasingly popular way of funding holidays and trips away with Brits clearly reluctant to give up their holidays no matter what their financial situation.

A massive 79% of Brits admitted that they had either already been on holiday this year or at least booked a trip and a considerable portion of those trips will have been paid for by credit cards – either in part or in full.

For those still yet to book it is important that finances and budgets are considered closely and credit cards are only used if repayments can be managed without causing long-term debt.

Travellers are also advised to invest in single-trip travel insurance to protect themselves – and their cash – whilst away

Date Created: 09/07/2015

News Archive

2018
2017
2016
2015
February
27 -Holidaying Brits put bad stereotypes to bed
26 -Weymouth to Cherbourg high-speed Ferry planned
25 -Italian beach named best in Europe
24 -A fortnight in sunny Spain - survey reveals how the average Brit will spend their break abroad in 2015
23 -Easyjet introduces 2nd cabin bag policy for its plus customers
20 -More sunshine and warmer weather would make us the happiest - say 60% of Brits
19 -Croatia revealed as the new hot spot for British holidaymakers
18 -Good news for holidaying families - 70% of headteachers say they will stagger term dates from September
17 -Bordeaux named Best European destination for 2015
16 -As tens of thousands of Brits head to the slopes ABTA urges them to 'stay safe'
13 -Orlando, New York, Dubai - holidaying families set to escape the February freeze this half term
12 -Come cruise with me: celebrity chefs to cook up a storm on P&O Cruises' new ship
11 -We enjoy an overnight stay in our meeting location - say 60% of business travellers
10 -Bulgaria named the cheapest family ski holiday destination this half term
09 -Benedict Cumberbatch named female travellers' ideal partner for a romantic break
06 -Summer holiday bookings surged in January, research reveals
05 -Qantas trials new virtual reality entertainment service
04 -easyJet launches new livery - and its trademark orange still takes centre stage
03 -#LoveRyanair - loved up couples get the chance to win pair of return tickets
02 -Additional capacity at Heathrow and Gatwick 'is essential', says ABTA
January
30 -New Zealand scoops top country accolade in Wanderlust reader awards
29 -Global international tourist numbers push past 1.1 billion in 2014
28 -Bring an end to British APD altogether - Ryanair makes government call
27 -Flights to US cancelled - up to 3ft of snow predicted in NYC, Boston and more
26 -Inspiring envy and impressing friends - some of the more unusual motivations behind holiday bookings
23 -Innsbruck, Madrid, Riga and more - cities shortlisted for European Best Destination 2015
22 -Record number of Brits flocking to the sun-kissed beaches of Aruba
21 -Tenerife for dining in and Turkey for dining out - research reveals biggest holiday mealtime savings
20 -Prague named the best value destination of 2015
19 -Wizz Air announces new routes from Gdansk base
16 -Third of summer holidays to be sold in first two months of 2015, say ABTA
15 -92% of travellers admit to arguing with their nearest and dearest on holiday
14 -Paris tourism industry reps start world tour in Feb to reassure concerned travellers
13 -Just one day left to take advantage of easyjet's 'Happy Bums' seat sale
12 -Holiday planning - we're not stressed about it, say more than half of Brits
09 -Travelling solo – more and more Brits opting to travel alone
08 -Bristol named Britain’s most punctual airport
07 -The Azores named most sustainable destination in world ranking
06 -Lithuania Adopts the Euro
06 -45% of travellers say new runway should be built at Gatwick
05 -Falling value of the euro set to leave holidaying Brits quids in
2014
October
31 -Young at heart: over 40s say yes to Magaluf, San Antonio and more
30 -Air con, LED lighting and intelligent glasses: the new face of the Sistine Chapel
29 -Almost half of travellers take to the skies alone
28 -Term time holiday rules relaxed under new guidelines
27 -Singapore revealed as the hottest destination for 2015
24 -More than one in five Brits still travel abroad without insurance
23 -Switzerland calling - Eurostar to launch Geneva services from December
22 -Chit chatting with strangers – favourite in-flight activity for Brits
21 -Survey reveals improvement in reputation of Brits abroad
20 -Costa del Sol voted as best value destination for winter sun
17 -What's the world’s Best City for Culture? It’s London....of course
16 -iPads and tablets emerge as our favourite holiday gadgets
15 -Passengers can now scan passports using easyjet’s award-winning mobile app
14 -49% of Brits stash leftover holiday cash for next trip
13 -The Only Way Is Ibiza - TOWIE sparks surge in bookings to Spain
09 -Where’s the best country for an unbeatable quality of life? Australia, according the OECD
08 -Ryanair set to expand Edinburgh schedule as Virgin’s Little Red service comes to an end
07 -Lorraine Pascale develops new menu for Virgin Atlantic – but not everyone will get a chance to sample it
06 -Long-haul glamour 101: Emirates staff reveal their beauty secrets
03 -BA has the X Factor – airline flies out judges and contestants for finals
02 -The main emotion felt by travellers at the booking stage? It’s excitement, of course!
01 -8,578 miles in one sitting! Qantas launches world’s longest non-stop route
September
30 -‘Buddy system’ and identifying wristbands among safety measures being considered by Thailand’s Tourism Minister
29 -Mobile phones can be left on during flights, says EASA
29 -Postcards a thing of the past as holidaymakers get tech-savvy
26 -What will travel look like over the next century? Lonely Planet makes its predictions
25 -More than 100 nervous flyers graduate from easyjet’s Fearless Flyer Course
24 -Young travellers turn to recommendations to guide holiday choices
23 - Glasgow named as world’s friendliest city
22 -BA to resume direct flights from Heathrow to Kuala Lumpur
19 -London Gatwick to Barcelona-El Prat named as route with most delays
18 - Travellers increasingly booking holidays with mobile devices
17 -What does the next decade hold for travel? €10 flights to the US apparently
16 -Egypt tourism could return to pre-uprising levels in 2015
15 - Want a spot of winter sun for less? Head to these destinations
12 -Scores of people have enjoyed a ‘3G’ holiday...but what it is?
11 -Traveller clocks up 18,479 Miles in five days to bag BA Gold Card
10 -Tetley seeks out 2 tea lovers for the tea-tasting trip of a lifetime
09 -Strength of the pound sees holidaymakers make a beeline for Brazil, Vietnam and Hungary
08 -BA’s cabin refresh - what will it mean for passengers?
05 -September 5th set to be biggest flying day in easyjet’s history
04 -Travel insurance? Only for shorter breaks say Brits
03 - Brits can only wait 6 months until their next holiday fix
02 -ABI offers advice to travellers in event of volcanic eruption
01 -Ryanair unveils new routes as part of its summer 2015 schedule
April
30 -Ryanair may be on a charm offensive, but Norwegian triumphs in best value budget
29 -Two-tankhamun: replica of famed tomb being installed near the original
28 -Feeling the fear and flying anyway: TOWIE star Bobby takes Easyjet’s Fearless Flyer Course
24 -Want to get a glimpse of NYC circa 2008? Now you can thanks to Google Street View
23 -E-agents, travel tips from Siri and more: report paints a picture of travel in 2024
22 -Planning a holiday with the kids in tow? Here’s why Cornwall should be your first stop
18 -A British Christopher Columbus? Well travelled Brits seem clueless when it comes to famed explorers
17 -Mamma Mia! Brits name Italian as their favourite foreign cuisine
16 -After the London Marathon comes....the volcano marathon
15 -Who wins out in the holiday booking battle of the sexes?
14 -Forget new-fangled holiday activities – building sandcastles still has pride of place in kids’ hearts
11 -5 stunning pictures of Spain
10 -Trouble-hit Crimea hoping for tourism boost with visa-free initiative
09 -Good news for families: Easter holiday prices have fallen by as much as 25%
08 -Brits ‘make do and mend’ to spend less than £100 on holiday essentials
07 -Easyjet joins bid for William Shakespeare day with themed plane and free Shakespeare performances
04 -Booking a holiday at work ‘costs more’
03 -Quarter of parents find it cheaper to pay fine than holiday in the summer
02 -Modern holiday experience ‘same as in Victorian era’
01 -Budapest offers best value for city breaks
2013
November
29 -The top five travel trends for 2014 revealed
28 -Want Christmas presents at half the price? Then head to NYC
27 -Budget carrier Ryanair announces 12 new routes from Stansted in 2014
26 -Skis at the ready! Winter resorts open early to eager audience
25 - Want to get the best glimpse of the Northern Lights. Visit’s Norway’s free app could
22 -On the beach or by the pool: our favourite spots for taking a holiday selfie
21 -Air New Zealand gives 3 pairs of Hobbit fans chance to see world premiere of the
20 - The Philippines’ Department of Tourism urges travellers to keep visiting the typhoon-hit
19 -Star gazing and Spanish culture...why Tenerife is the best place to do it
18 - BA reveals what makes us 'app'y on holiday as EU agency prepares to approve in-flight
15 -Yearn to live like a local on holiday? Four intrepid travellers complete life swap
14 -Heston does Heathrow: Award-winning chef set to open eatery in terminal 2
13 -Want a weekend break that isn’t too hard on the purse strings? Then head to Lisbon
12 -Petition urges end to new term-time holiday regulations
11 -Fly away with me: greater number of children than ever before travelling abroad
08 -World peace and a comfy place to lay your head...Hostelling International wins Ambassador
07 -2014 will bring a renewed and reinvigorated interest in Egypt
06 -Want your whole life to feel like one big holiday? A job as a "Spontaneity Champion"
05 -Haute cuisine and global travel....welcome to the £180,000 gastro holiday!
04 -Young or old...we still love our holidays!
03 -Culture Day 3rd November 2013
01 -1 min 28 seconds to the perfect holiday suitcase....by the YouTube Star hired by
2012