A new research from Sainsbury's Cards revealed that by mid-November, 2007, the adult population of the UK has on average spent an estimated GBP6.29 billion in preparation for the Christmas season, with 26% of this figure or an estimated GBP1.66 billion being placed on their credit cards.

The average amount already spent on Christmas is GBP132.42 per UK adult however 8% of adults have already spent over GBP500. The research indicates that 68% of the total expenditure has gone on presents, followed by 9% on food and 4% on holidays.

Donald MacLeod, head of Sainsbury’s Cards, said: Christmas is one of the most expensive times of the year so it’s encouraging to see that a large number of shoppers are spreading the cost. With so many outgoings it makes sense to look for a credit card that gives you something back in return, people using cards this festive season should check that their spend is being rewarded.