37 per cent buy online with credit cards ‘for insurance’

More than a third of people with credit cards use them to buy items online so that they are insured, according to a new survey.

Norwich & Peterborough Building Society found that 37 per cent of consumers claim to do this, with the figure rising to 40 per cent among men.

In addition, the study revealed that 42 per cent of people use their credit cards to purchase everyday items – paying off the balance in full on a monthly basis – compared to 22 per cent who only reach for the plastic when an emergency arises.

Just under a fifth (19 per cent) of those polled stated that they do not have a credit card, while five per cent admitted they use them to pay for all manner of items and occasionally incur charges after missing payments.

Earlier this month, Caxton FX advised people travelling abroad to use a prepaid card in order to avoid having to pay the fees that are sometimes charged on debit cards.

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