Holidays on the never-never
Holidaymakers are seeking instant cash to finance their holidays, according to travelsupermarket.com, the website where consumers compare the cost of flights from over 40 Internet sites.
Travelsupermarket.com said its sister company, moneysupermarket.com, received over 250,000 applications for personal loans in July, up 100,000 from the same time last year. The company said it believed a significant number were for holidays.
The website added holidaymakers were coming back to not only gloomy British weather but an even gloomier bank balance because they were not looking into the full cost of loans. Rates for loans vary enormously, from around 5.9 per cent to 25.9 per cent.
Travelsupermarket.com urged holidaymakers to shop around for the best deals or consider paying for holidays on their credit cards, which can be a cheaper solution.
Travelsupermarket.com director of travel Chris Nixon said: “We recognise that these days we work longer hours and even harder than ever and therefore we thoroughly deserve our holidays.
“There are some fantastic deals on credit cards at the moment, including the Amex blue card which gives a 2 per cent cash back against the total spend.”
The website is offering a new guidance service to help people avoid racking up huge debts.
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