Christmas dinner's the winner as Brits make Christmas cutbacks

The economic uncertainties won't spoil Britain's appetite for a good Christmas lunch this year, according to latest research from Abbey Credit Cards.

Indeed even though the cost of the festive Turkey (with all the trimmings) will cost families 10 per cent more than last year, almost half of us (47 per cent) are planning to sacrifice a social life in the run up to Christmas, and nearly one-in-three (31 per cent) will reign in present spending to make sure their lunch goes with a gastronomic bang.

But despite the cutbacks it could still be an ‘own label' Christmas for many more, with half of us (53 per cent) pledging to avoid major brands and instead go for the supermarket equivalent. A further 37 per cent also intend to shop at a discount supermarkets. Furthermore, rather than buying everything all under one roof nearly two thirds, will hunt around to find supermarkets offering the best Christmas promotions (76 per cent) on items such as wine, beer, chocolate and snacks.

One-in-five Brits (21 per cent) plan to fund their Christmas food shop on their credit card. And with Abbey offering a delicious 3% cashback in supermarkets, its customers might well appreciate the Christmas bonus coming their way. 47 per cent will pay for their festive food straight from their current account while 20 per cent will dip into their savings.

Callum Gibson, Head of Credit Cards at Abbey, comments: "We all know it's going to be a tough Christmas, and while presents may not be as extravagant as previous years, it's great to see that Britons are determined not to let it spoil their Christmas lunch.

"With supermarkets all offering enticing deals on different items and Abbey offering 3 per cent cashback, shoppers should take advantage of these and get the best deals on offer."

For customers who are interested in applying for an Abbey credit card, visit abbey.com

Other features of the Abbey credit card include:

Zero per cent on balance transfers for 9 months from account opening
Zero per cent on purchases for 3 months from account opening
Cashback paid for 6 months from the date the account is opened up to a max of £75 (capped at £12.50 a month)
18.9 per cent APR on all balance transfers and purchases (after the respective introductory offer periods)
27.9 per cent APR on cash advances (calculated from the day of withdrawal)